Inspirit Energy Share News (INSP)

(Sharecast News) - Micro combined heat and power (mCHP) boiler developer Inspirit Energy Holdings updated shareholders on Friday, following a strategic review of operation and product development.The AIM-traded firm had set out in its half-year report, that it had been working to advance its microCHP boiler towards commercialisation.In December, the UK government introduced legislation which would close the feed-in tariff scheme to new applicants from 1 April.The feed-in tariff would have provided a subsidy to mCHP boilers, and although not applicable to the company's 'charger', it would have had an industry impact on new entrants to the mCHP market.To that end, the company said it had been focusing on improvements to the design of its 'Stirling' engine technology, and creating a strategic plan for future operations, cost efficiencies and product diversification.The firm said it was in the process of moving its facility from Sheffield to Glogów malopolski in Poland, in collaboration with a European engineering group."We have further been in collaboration with a UK-based university, working in conjunction with their technology department to expand the possible applications for the Stirling technology," the board said in its statement.It said improvements to the current charger included further simplification as part of the 'design for manufacture' process, with enhanced manufacturing processes used in the further development of the charger, in particular the new casting which was developed using the 3D printing method.Where possible, welding had been removed to reduce welding failure.The unit base and support frame was now made from a single biodegradable plastic composite, with other new composite materials awaiting classification to be used in the manufacturing process.Inspirit said those improvements had attributed to cost savings achieved across all elements of the charger unit.It said the electronics would use more cost-effective systems, and the drive system would consist of a single offset crank, leading to less components and more cost efficiencies.Materials would be steel, composite plastic and metal derivatives, with the boiler having a single interface that would provide greater ease of use.It also would not be reliant on the electricity grid to start, with the ability to use a 12-volt start option."The above improvements and efficiencies have provided the charger with peak electrical output in excess of 6.4kW of electricity during a running cycle of 2,000 hours against the unit's previous output of 3.0kW, whist maintaining 15kW thermal output and a 20% reduction in the size of the appliance to below 800mm," the board explained.Inspirit said it had also embarked multiple applications for the Stirling technology, and had developed schematics for a number of projects, including Inspirit Marine, where it was currently in discussion with a large car and marine engine manufacturer to develop a unit for the shipping industry with current output of 11.68kw.In solar, it said it developed an in-house design, incorporating the new development of its Stirling engine, while it had also designed the 'Inspirit Cooler' refrigeration system.Finally, the Inspirit Motor and Generator had been designed in line with the Inspirit Charger to start the unit and convert electrical output to the grid."The development work of our engineers has been impressive achieving an electrical output of over 6kw without increasing the thermal output," said Inspirit Energy chairman and chief executive officer John Gunn."Such a heat power ratio will significantly improve the potential for commercial success and possible diversification in multiple other applications."