Director/PDMR Shareholding

RNS Number : 4453S

Inspirit Energy Holdings PLC

08 July 2015

 

8 July 2015

Inspirit Energy Holdings plc

("Inspirit" or the "Company")

Director's Dealings

Inspirit (AIM: INSP) announces that it was informed that Nilesh Jagatia, the Company's Chief Financial Officer, had yesterday purchased 2,000,000 ordinary shares of 0.1p each in the Company ("Ordinary Shares") at an average price of 0.5p per share. This purchase takes Mr Jagatia's total holding to 2,000,000 Ordinary Shares, representing 0.29% of the Company's issued share capital.

For further information please contact:

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

About Inspirit Energy Holdings Plc

Inspirit Energy Holdings plc, is developing and commercialising a highly efficient micro combined heat and power (micro-CHP) 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 configurations and its high operating efficiency together with the offset 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 micro-CHP 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.

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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