Directorate Change

RNS Number : 9826M

Inspirit Energy Holdings PLC

02 September 2013

 



2 September 2013

Inspirit Energy Holdings plc

("Inspirit" or the "Company")

Appointment of Neil Luke as an Executive Director and Chief Operating Officer

The Board of Inspirit Energy Holdings plc are pleased to announce that Neil Luke has today been appointed as an Executive Director and Chief Operating Officer of the Company.

Mr Luke has previously been assisting the Company in the capacity of Non Executive Director and advisor and today's appointment consolidates his direct involvement in the operational direction of the business and particularly the development of the Company's mCHP product.

Mr Luke stated 'I am pleased and excited to be joining the executive Board of Inspirit at this time when the Company is now able to successfully move forward in its development of a micro Combined Heat and Power appliance. This is the starting point of the business realising full commercialisation within a sector where there is a real need for a product of this type. As yet only the Inspirit appliance has demonstrated the attributes to fulfil that opportunity.'

Mr Luke is a past Technical Director and Operations Director of a number of renown  businesses in the heating sector and has extensive experience of bringing development projects to market.

Contacts:
Inspirit Energy Holdings plc	www.inspirit-energy.com
John Gunn, Executive Chairman	[phone]
Jubeenh Nazhat, Director/Company Secretary	[phone]
Westhouse Securities Limited
Antonio Bossi / Paul Gillam	[phone]

Notes to the Editor

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. 

 

END

 

 

BOAUGUPCBUPWUBP