Directorate Change

RNS Number : 6912J

Inspirit Energy Holdings PLC

21 December 2015

 

21 December 2015

Inspirit Energy Holdings plc 

("Inspirit" or the "Company")

Director Change

Inspirit Energy Holdings plc, the London listed developer of micro combined heat and power boilers ("mCHP"), announces that Mr John Gunn, the Company's CEO, has taken on the role of Chairman and CEO of the Company, replacing Mr David Lenigas as Chairman who has retired as a director of the Company to focus on his other business activities.

John Gunn commented; "I would like to thank David for his valuable contribution and support of the corporate and engineering team over his tenure as Chairman of Inspirit, having successfully overseen the Company's Inspirit Charger mCHP go through the very complicated process of final design, construction and testing of our Inspirit Charger 2.0 and 3.0 appliance and as taking it through to the final CE and BSI certification process prior to being commercially available to utilities. David received no compensation for this role and personally invested in the business."

David Lenigas added; "I am proud of what has been achieved by this Company and its dedicated engineering team in Sheffield. Inspirit have manufactured one of, if not the most efficient mCHP appliances available in the global marketplace today. The fact that the team has developed a unique "sealed-for-life" dry Stirling engine capable of generating substantial amounts of electricity from the gas boiler exhaust has been a very significant and unheralded achievement for British engineering. I have planned for some time to retire from the board and now that the unit is ready for final product certifications, I feel this was the opportune time for me to step down and focus on my North American and Cuban businesses."

End

Inspirit Energy Holdings plc	www.inspirit-energy.com
John Gunn, Chairman and CEO Nilesh Jagatia, CFO	[phone] [phone]
Westhouse Securities Limited
Antonio Bossi / David Coaten	[phone]
Public Relations:
Square1 Consulting
David Bick/Brian Alexander	[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. 

 

END

 

 

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