Agreement with Sentec

RNS Number : 2557K

Inspirit Energy Holdings PLC

23 June 2014

 



23 June 2014

Inspirit Energy Holdings plc

("Inspirit" or the "Company")

Agreement with Sentec

Inspirit (AIM: INSP) is pleased to announce that it has concluded a further agreement with Cambridge based technology and product developer, Sentec Ltd ("Sentec"), to supply the first of its electronic boiler control and energy management systems for use on Inspirit mCHP appliances.

John Gunn, the Company's Chief Executive Officer, commented:

"The signing of this latest agreement with Sentec provides for the manufacture and supply of the final stage electronics that will enable Inspirit to progress to the pre-production build of trial units that will be installed with a range of companies with whom Inspirit have signed agreements. I am particularly pleased that the formalisation of this contract with the world class electrical systems developer will provide a key component in achieving the planned timescale of installing trial units in Q3 of FY 2014 and from this milestone the determination of the date for commencement of full production volume."

For further information please contact:

Contacts:
Inspirit Energy Holdings plc	www.inspirit-energy.com
John Gunn, Executive Director	[phone]
Jubeenh Nazhat, Director/Company Secretary Sentec Limited Steve Dawson, VP of Consultancy	[phone] www.sentec.co.uk [phone]
Westhouse Securities Limited
Antonio Bossi / David Coaten	[phone]
Public Relations:
Square1 Consulting
David Bick	[phone]

Notes to the Editors:

Sentec is an innovation, technology, and product development company. We specialise in the energy and cleantech sectors inventing, innovating, and developing technology & products on behalf of our clients. We bring our sensing, actuation, data-analytics, and communications skills to products which deliver greater intelligence and control, to the management of energy.

Sentec applies its energy industry expertise and experience in three main fields; Smart Grid & Metering - where Sentec has its technology embedded in over 12million field-deployed units; Smart Buildings - where Sentec enables the homeowner and the buildings/site manager to have clear understanding and control over their energy management; and Consumer products - where Sentec is helping revolutionise how our every-day consumer products use and report the use of energy.

Inspirit Energy, is a company based in Sheffield and is currently developing a micro combined heat and power (mCHP) boiler for the commercial and residential markets. The boiler is specifically designed to meet the challenge of reduced carbon energy supply and is capable of running on natural gas, LPG and Bio Fuels. The appliance produces hot water (for tap water or central heating) and electrical output simultaneously. The installation can be of single or multiple configuration and its high operating efficiency together with the off-set of electricity costs provides a very attractive investment payback proposition.

Inspirit intends to explore opportunities to licence out the underlying technology and the Directors believe that in some instances, the patents owned by Inspirit may be also used in the development of products other than a mCHP appliance. A prototype of the appliance has been independently tested and shown to be capable of simultaneous generation of up to 15kW thermal and up to 3kW electrical output. Once development of the appliance has been completed and commercialised, the Directors expect that the appliance will initially be marketed in the UK and Europe and eventually worldwide. Additional revenue streams may be possible through product licensing, sales of warranties and further development of the product. 

 

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