Inspirit (LSE AIM: INSP) is pleased to announce that Calor Gas Ltd the UK's leading supplier of liquid petroleum gas has agreed to the installation of one of Inspirit's highly efficient mCHP micro co-generation boilers ("mCHP Boiler") at one of it's customer sites when commercial units become available later this year.
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 configurations 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.
Inspirit Energy (LSE AIM: INSP) is pleased to announce the addition of Dr John Bannister to the senior management team as a full time consultant to the Company and special advisor to the board.
Dr Bannister joins Inspirit from Flow Group Plc ("Flow") where he was head of New Technology Development over the last 6 years, managing the certification process for Energetix Group plc (prior to formation of Flow), which resulted in the first product certified for field trials in 2011. Recently at Flow, Dr Bannister was responsible for the development and management of the Flow Boiler field trials and for product verification and reliability testing.
Dr Bannister has worked in the renewable and low carbon technology area since 2007 and led the product development team at Energetix from 2008 playing a major role in the development of their organic rankine cycle - based mCHP appliance. He was also head of Research and Development at Pursuit Dynamics plc and was engaged in product and business development roles at QinetiQ Group plc from 2001 - 2004.
John Gunn, the Company's CEO, commented:
"Dr John Bannister now brings this wealth of technical and commercial experience to Inspirit Energy, having already worked with and built relationships with many of our partners including, Enertek International, Malvern Boilers Limited and British Standards Institution. His addition to our senior management team will greatly assist Inspirit Energy in the final stages of commercial product development and will manage the market introduction and roll-out of Inspirit Energy's highly efficient and unique mCHP product for Field trials with our partners. "
Inspirit and Malvern sign closer manufacturing partnership agreement
Following the recent announcement that Inspirit (AIM: INSP) has successfully raised £1,000,000 (gross) through direct subscriptions, to fund the next important commercialisation phase of the Inspirit mCHP (micro combined heat and power) boiler, the Company has concluded a more detailed manufacturing partnership agreement with Malvern Boilers Ltd. This agreement will see the companies working closer together to achieve the joint goals of producing the initial trial boilers for evaluation sites by the end of October 2014 and placing Malvern in the controlling role of managing the product introduction and supply chain.
Through this new agreement the Worcester based independent manufacturing company has committed its resources and expertise to spearhead Inspirit's program to deliver the first of its
pre-sales units to key potential customers and to develop a global supply chain that will allow the product to enter the market at a competitive price.
Malvern's experience in the manufacture of other mCHP appliances as well as more conventional gas heating products will provide the timely evaluation of the design for manufacturing so that the lead into full production can be completed in the most cost effective manner. The date for full production will be finalised and communicated upon the completion of the initial build and conclusion of these evaluations.
John Gunn, the Company's Chief Executive Officer commented:
"This latest agreement with Malvern Boilers has cemented a key building block in the foundations of Inspirit realising its stated intention to launch a market changing product into the energy supply sector. Each customer can look forward to generating a significant amount of power locally and to break the strangle hold of the Big 6 supply companies in the UK."
Inspirit (AIM: INSP) is pleased to announce that it has concluded a further agreement with Cambridge based technology and product developer, Sentec Ltd ("Sentec"), to supply the first of its electronic boiler control and energy management systems for use on Inspirit mCHP appliances.
John Gunn, the Company's Chief Executive Officer, commented:
"The signing of this latest agreement with Sentec provides for the manufacture and supply of the final stage electronics that will enable Inspirit to progress to the pre-production build of trial units that will be installed with a range of companies with whom Inspirit have signed agreements. I am particularly pleased that the formalisation of this contract with the world class electrical systems developer will provide a key component in achieving the planned timescale of installing trial units in Q3 of FY 2014 and from this milestone the determination of the date for commencement of full production volume."
Major European Utility to test Inspirit's mCHP boiler-generator
Inspirit Energy (LSE AIM: INSP) announces it has signed a landmark Agreement with a major European Utility company, that will see Inspirit Energy supply and install one of the the Company's first highly efficient mCHP micro co-generation boilers into the Utility's test and verification facilities when the first commercial specification appliances become available later in the year.
The Agreement with the Utility also stipulates that any tests undertaken at its test facilities shall establish the suitability of the mCHP appliance for field trials within their network and subsequent potential commercial entry into the market. Upon successful testing of the Inspirit Energy mCHP appliance, the parties have agreed to discuss the potential to co-operate in field trials of the appliance within their network.
The Utility is one the major leading Energy Utilities in Europe with an extensive customer base of gas consumers in both the industrial and domestic sectors in its region. It is also one of the largest installers of boilers and energy efficiency products in their market place.
The Inspirit mCHP micro co-generation boiler:
Inspirit Energy's new washing machine-sized mCHP micro co-generation boiler is one of the industry's most powerful and energy efficient mCHP appliances for its size with simultaneous generation of up to 15 kilowatts of thermal output and up to 3 kilowatts of electrical output. The appliance's patented engine will take the waste heat from the boiler and convert it efficiently in to electricity; first supplying the installed property and then feeding surplus electricity into the national grid. The appliance to be commercialised will have the flowing specifications:
Caring Homes the first to install trial units of the Inspirit mCHP boiler-generator
Inspirit (AIM: INSP) announces it has signed a strategic agreement with one of the largest residential care providers in the UK, the Caring Homes Group, to install the first Inspirit mCHP boiler-generators when the trial units become available for key customer testing and verification around the third quarter of the year.
The Company anticipates that successful trials of the appliance with the Caring Homes Group will demonstrate the economic viability of this appliance and potentially lead to significant orders into their extensive network of care homes throughout the UK.
John Gunn, the Company's Chief Executive Officer, commented:
"Inspirit Energy is pleased that Caring Homes have decided to be amongst the first commercial groups to trial our highly efficient mCHP boiler-generator. Care homes are ideal sites for this appliance due to the amount of continual hot water required for their facilities and the power consumed in day to day operations."
"The Company is at an advanced stage of negotiating with other major groups in the UK to trial the Inspirit boiler-generator and we expect to announce further news in this respect shortly."
Emma Charlton, Marketing Director at Caring Homes Group, commented:
"We are delighted to enter into this agreement with Inspirit. The credentials of this boiler ideally suit a business like ours where the financial benefits of localised power generation are allied with a substantial environmental contribution through a significant reduction in carbon emissions."
"Caring Homes is one of the most respected, care home operators in the United Kingdom. Through a national network, Caring Homes provides quality accredited, award winning residential, nursing and specialist dementia care to elderly people and through their brand Consensus, provide support services to adults with learning disabilities and associated complex needs."
"At Caring Homes our ethos is corporate strength underpinned by family values. This philosophy is at the heart of everything that we do and simply reflects our vision and principles of our founders Craig Griffin, Paul and Helena Jeffery."
The Inspirit mCHP boiler-generator:
Inspirit has developed a high efficiency boiler suitable for large domestic and small commercial and enterprise use capable of simultaneous generation of up to 15kW thermal and up to 3kW electrical output. This uniquely represents about 3 times the electrical output compared to similar appliances available in the global marketplace.
Current progress and prospects
Earlier this month, Inspirit signed a manufacturing agreement with global boiler manufacturer Malvern Boil
Inspirit (AIM: INSP), which is developing a heating boiler which also simultaneously generates enough electricity to power the average home, announces that it has signed a manufacturing agreement with global boiler manufacturer Malvern Boilers Ltd ("MALVERN") to produce the initial volumes of its unique and highly efficient mCHP boilers.
· Deal signed with globally recognised sector specialists, MALVERN, to manufacture Inspirit's unique high efficiency mCHP boiler initially for the UK and European markets.
· MALVERN have an excellent track record of producing mCHP boilers for the global market place and are experienced in the testing regimes required to verify the adherence to the certification of gas appliances.
· Working together with Inspirit and its component suppliers, MALVERN will assist Inspirit in developing the global supply chain required to mass manufacture and sell the Inspirit mCHP boiler in the UK and Europe at competitive prices.
· Inspirit expects to have pre-sales units operating with key potential customers by mid-year and plans to be in commercial production by the year end.
David Lenigas, the Company's Chairman, commented:
"MALVERN are the ideal manufacturing partner for Inspirit having a long established track record of manufacturing full boiler units and components for major industry players in North America, Europe and the UK.
"The Company has now contracted all the necessary design, manufacturing and certification specialists required to make this British company's washing-machine-sized, high efficiency boiler-electricity generator available for the global market place."
Nick Perry, Managing Director of Malvern Boilers, commented:
"We are delighted to partner Inspirit with the manufacture of their mCHP. We believe it's a truly innovative product that offers both domestic and SME's alike an affordable mCHP solution. Inspirit's decision to partner a British manufacturer is not only excellent news for us; it's excellent news for UK manufacturing, bringing with it the creation of new jobs. We pride ourselves on the quality of our workmanship and get real enjoyment out of working with likeminded partners such as Inspirit"
Inspirit signs specification and certification deal with Enertek International
Inspirit's high efficiency-generating boiler on track for commercial production by year end
Inspirit (AIM: INSP), which is developing a heating boiler which also simultaneously generates enough electricity to power the average home, is pleased to announce that internationally renowned Enertek International Ltd ("Enertek") has been contracted to assist with the final mass manufacturing specifications and designs for the boiler's key heating components. Enertek will also assist in obtaining the necessary certifications required to sell this unique appliance initially in the UK and European market places.
· Deal signed with internationally recognised sector specialists, Enertek, to assist with the completion of mass manufacturing designs for the heating components of the Inspirit mCHP boiler.
· Enertek, are also specialists in obtaining certification of gas appliances. Working together with Inspirit and its various component suppliers, Enertek will be assisting Inspirit in gaining the necessary certifications required to mass manufacture and sell the Inspirit mCHP boiler in the UK and Europe.
· Negotiations are well advanced with an independent manufacturer in the boiler industry to produce the key boiler components and undertake the final assembly of the entire mCHP units ready for sale and export.
· Inspirit expects to have trial units operating with key potential customers by mid-year and be in commercial production by the year end.
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