Collaboration Agreement with the CIBSE

RNS Number : 2723H

Inspirit Energy Holdings PLC

16 August 2016

 

16 August 2016

Inspirit Energy Holdings Plc

("Inspirit" or "the Company")

Collaboration Agreement with the CIBSE

Inspirit Energy Holdings plc, the AIM listed developer of micro combined heat and power boilers, is pleased to announce it has entered into a collaboration agreement with the Chartered Institution of Building Services Engineers (CIBSE).

The agreement is to enable the CIBSE to produce a formal peer review, by evaluating Inspirit's micro-CHP boiler, the "Inspirit Charger", against other micro-CHP products currently available in the market. The peer review will be available to CIBSE members, the Government and its stakeholders, providing impartial information as to the application and benefits within regulatory assessment measures of this new and very exciting development in heat and power delivery for homes and commercial properties.

The CIBSE is the standard setter and leading authority on building services engineering in the UK. It publishes guidance and codes, which are internationally recognised, as well as setting the criteria for best practice in the profession.

The Company and the CIBSE seek to further the understanding and recognition of micro-CHP as both a way of reducing heating costs and also lowering building emissions under the Climate Change Act.

The CIBSE will commence the project immediately, providing project management, execution and implementation in order to gather the data necessary to produce a report. Inspirit will provide access to its field trial data as well as offering technical and commercial guidance. It is expected that the final report will be published by the end of 2017.

John Gunn, Chairman and CEO of Inspirit, commented, "It is an honour to be working alongside the CIBSE, an internationally recognised body of industry professionals. The CIBSE has taken a clear interest in micro-CHP technology, which they see as a serious and obvious challenger to the traditional boiler systems currently installed across the world."

More information on Inspirit Energy can be seen at: www.inspirit-energy.com

Contacts:
Inspirit Energy Holdings plc
John Gunn, Chairman and CEO	[phone]
Nilesh Jagatia CFO	[phone]
Stockdale Securities Limited (Nominated Advisor and Joint Broker)
Antonio Bossi / David Coaten	[phone]
Peterhouse Corporate Finance (Joint Broker)
Lucy Williams / Duncan Vasey	[phone]
Cadogan Leander
(Financial Public Relations)
Christian Taylor-Wilkinson / Alex Walters	[phone]

About Inspirit Energy Holdings Plc

Inspirit Energy Holdings plc, is developing and commercialising a highly efficient micro combined heat and power (mCHP) boiler for commercial applications. 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 license 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.

About CIBSE

CIBSE publishes Guidance and Codes which provide best practice advice and are internationally recognised as authoritative design guidance for building services. The CIBSE Knowledge Portal, which makes Guidance available online to all CIBSE members, is the leading systematic engineering resource for the building services sector.

For more information about the Institution please visit www.cibse.org

 

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