Operations Update

RNS Number : 7086B

Inspirit Energy Holdings PLC

14 June 2021

 

14 June 2021

Inspirit Energy Holdings Plc

("Inspirit" or "the Company")

Operations Update

Inspirit Energy Holdings PLC (AIM: INSP), the developer of Waste Heat Recovery Systems (WHR) and the micro-Combined Heat and Power (microCHP) boilers is pleased to provide an update on its operations.

During the last few months whilst COVID19 restrictions have eased, Inspirit Energy has been working with its engineering partners on the [fine] details of the new WHR for the application on the Volvo marine engine.  Details on the electrical and the main mechanical systems are near completion. It is hoped that by the end of 2021 all major items of the WHR system will be complete, with a view to having the designs for a full working prototype that can be put into manufacture. 

Inspirit has additionally developed and applied a new innovative technology that will become an integral part of the of WHR System.  Whilst still in the early stages of development, the Inspirit Helix Accelerator system (IHA), works alongside the WHR system taking the heat from the original source and increasing it via a exothermic reaction demonstrated to be at least 26%.  Essentially, the heat source that passes though the IHA is amplified to provide a greater heat source for the Stirling engine, resulting in greater power output and efficiency.  The Company believes that this technology, along with the Stirling technology that Inspirit Energy has also developed, makes this system more innovative than anything currently on the market.  IHA has other applications where the current heat source is in a lower threshold and the traditional use of Stirling technology would not seem a benefit to recover lost energy.

Currently, longevity trials are underway on the Inspirit Helix Accelerator and the results are encouraging.  Subject to the current impact of the Covid pandemic on our manufacturing partners, it is hoped that we will have a working unit at the beginning to middle of 2022.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No. 596/2014) AS IT FORMS PART OF UK DOMESTIC LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018.  UPON THE PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION.

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

For further information please contact:

Inspirit Energy Holdings plc
John Gunn, Chairman and CEO	[phone]
Beaumont Cornish Limited  www.beaumontcornish.com (Nominated Advisor)
Roland Cornish / James Biddle	[phone]
Global Investment Strategy UK Ltd (Broker) Samantha Esqulant	[phone]

 

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