Directorate Change

RNS Number : 9368G

Inspirit Energy Holdings PLC

02 June 2017

 

2 June 2017

Inspirit Energy Holdings Plc

("Inspirit" or "the Company")

Board Change

The Company announces that Neil Luke, Chief Operating Officer, has stepped down from the Board of Inspirit Energy Holdings plc due to his planned retirement. In the interim period, Paul Booker, Design and Development Director of Inspirit Limited, Inspirit Energy Holdings plc's 100% owned operating Company, supported by Nick Stevens, Marketing Director and Paddy Thompson, Sales Director, will oversee day to day activities until a suitable candidate is appointed.

John Gunn Commented:

"We thank Neil for his time as the COO of the company for the last four years and we are very grateful for his assistance with the public listing of the company and the development of our mCHP boiler. We congratulate Neil on his retirement and wish him well for the future".

This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.

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

Contacts:
Inspirit Energy Holdings plc
John Gunn, Chairman and CEO	[phone]
Stockdale Securities Limited (Nominated Advisor and Joint Broker)
Antonio Bossi / David Coaten	[phone]
Peterhouse Corporate Finance (Joint Broker)
Lucy Williams / Duncan Vasey	[phone]

 SVS  Securities Plc                           [phone]

(Joint Broker)

Tom Curran

 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.

 

END

 

 

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