Construction of Inspirit's verification boiler

RNS Number : 0873Q

Inspirit Energy Holdings PLC

15 June 2015

 

15 June 2015

Inspirit Energy Holdings plc

("Inspirit Energy", "Inspirit" or the "Company")

Commencement of Construction of Micro Combined Heat and Power Verification Boiler

Inspirit Energy Holdings plc, the AIM listed developer of micro combined heat and power boilers, is pleased to announce that it has commenced construction of its first verification unit boiler.

The verification unit is currently being assembled at the Company's Sheffield development facility and, following final in-house testing, will be shipped to the independent international consultants, Enertek International Ltd ("Enertek") (www.enertekinternational.com) for testing conformance with the European Gas Appliance Directive. Enertek specialise in product research, design, development and certification. The purpose of this testing is to accredit the unit for field trial deployment in a commercial, potential customer setting, outside of a laboratory environment.

Paddy Thompson, Sales Director of Inspirit Energy, commented:

"Field trials are an essential first step on the route to market for our micro combined heat and power boiler. Inspirit is committed to ensuring that only fully tested products which meet both our internal quality standards and external certification requirements are brought to market. Only in this way can our future customers have full confidence in our products and in our brand. The commencement of construction of our verification unit is a major milestone for the Company and paves the way, subject to successful certification, for our verification unit to be installed in a commercial setting where it can undergo live field trial testing. We look forward to updating shareholders on progress when this unit is shipped to Enertek for testing."

John Gunn, the Company's CEO, commented:

"The construction of this verification unit paves the way for Inspirit to have its first working certified commercial boiler in operation at the premises of a potential customer and serves as a real value catalyst for Inspirit shareholders. I look forward to reporting back to shareholders as soon as possible as we progress through a very busy development period."

For further information please contact:

Inspirit Energy Holdings plc	www.inspirit-energy.com
David Lenigas, Chairman John Gunn, Executive Director Nilesh Jagatia, CFO	[phone] [phone] [phone]
Westhouse Securities Limited
Antonio Bossi / David Coaten	[phone]
Beaufort Securities (Joint Broker)
Jon Levinson / Saif Janua / Elliot Hance	[phone]
Public Relations:
Square1 Consulting
David Bick / Mark Longson	[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 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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