Stmnt re Share Price Movement

RNS Number : 0820E

Inspirit Energy Holdings PLC

03 May 2017

 

3 May 2017

Inspirit Energy Holdings Plc

("Inspirit" or "the Company")

Statement re share price movement

Further to the share price movement today, Inspirit confirms that it is in discussions with Argentarius ETI Management Ltd about structuring a fixed interest bond instrument for the Company of up to £2 million. No money has so far been raised in relation to this instrument and the Company expects to make further announcements in due course.

The Company is in the final stages in the development cycle of approvals for its micro combined heat and power (mCHP) boiler and expects trials to begin thereafter.

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

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

 

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