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Pin to quick picksInspirit Energy Share News (INSP)

Share Price Information for Inspirit Energy (INSP)

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Inspirit Energy shares surge as it makes inroads into various sectors

Wed, 13th Nov 2019 15:19

(Sharecast News) - Micro combined heat and power (microCHP) boiler developer Inspirit Energy Holdings updated shareholders on its recent progress on Wednesday, announcing that it had taken further steps in applying its Stirling engine application for its mCHP boilers in "diversified" sectors.
The AIM-traded firm said it had been invited to demonstrate its Stirling technology to an unnamed large-scale Swedish marine engine manufacturer with a view to initiating design, development and testing to produce a unit application for the marine and shipping industry.

If successful, the board said such application could generate a "significant" contact for the company.

To assist it in achieving this, Inspirit said it would be demonstrating a 3D model of the redesigned engine and application during January.

In addition to that, the firm said it had also been in discussions with other parties for the application of the Stirling engine technology, with those sectors including solar, renewable and refrigeration.

Looking at the next stage in the manufacturing process of the 6.4kW mCHP with a 15kW thermal output boiler, the company said it had continued with focusing on the improvements to the design of its Inspirit Charger, that incorporates the Stirling engine technology.

As a result, it had successfully created a smaller prototype of the Stirling engine casting using 3D printing methods with its partners in Poland.

That had passed PD 5500/2018 and as a result, had provided a favourable outcome at reduced cost and greater efficiencies.

The company said it expected to produce its first unit in 2020, with the assistance of its engineering partner in Poland, with the success of the unit set to allow it to have a unit ready for batch production.

"Inspirit Energy is at a pivotal point in its direction as a research and development company," said design and development director Paul Booker.

"The development of the charger with an output of over 6kW has been a long journey but has been well worth the effort.

"In the development of the charger, the Inspirit team identified a large range of applications and industries where our core technology could transpose into and this makes the next phase of Inspirit's development very exciting to be a part off."

Booker said the journey had "not been as straight forward" as the board would have liked, but it had developed a technology which had many diverse applications.

"Its core attributes are that it can run on many different fuel types and be incorporated into a variety of applications and industries."

At 1437 GMT, shares in Inspirit Energy had rocketed 71.71% to 0.06p.
More News
2 Jan 2024 17:22

IN BRIEF: Inspirit Energy shares jump as repays USD80,000 debt

Inspirit Energy Holdings PLC - London-based waste heat recovery technology and decarbonisation engineering solutions company - Repays short-term, unsecured debt of USD80,000, which was drawn down in December 2022. "The board are pleased to reduce this debt and will provide further updates in due course," Inspirit adds.

Read more
27 Dec 2023 11:53

EARNINGS: Inspirit Energy pretax loss narrow, while RC365's widens

(Alliance News) - The following is a round-up of earnings for London-listed companies, issued in the past week and not separately reported by Alliance News:

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14 Nov 2023 14:19

TRADING UPDATES: Billington on track to beat 2023 expectations

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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14 Aug 2023 10:17

AIM WINNERS & LOSERS: Harvest Minerals cuts annual sales forecasts

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

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14 Aug 2023 10:00

Inspirit confident in system despite finding defect in component

(Sharecast News) - Waste heat recovery technology specialist Inspirit Energy updated the market on its waste heat recovery unit on Monday, known as the 'Inspirit Charger', having identified a component defect after a number of successful tests.

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14 Aug 2023 09:31

Inspirit Energy notes possible performance enhancement on engines

(Alliance News) - Inspirit Energy Holdings PLC on Monday gave an update on the Inspirit Charger that has been designed for waste heat recovery for use in marine and automotive applications.

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31 Mar 2023 14:51

EARNINGS SUMMARY: Quarto pretax profit up by half; confident for 2023

(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Friday and not separately reported by Alliance News:

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16 Mar 2023 17:32

TRADING UPDATES: Inspirit Energy reports progress on Inspirit Charger

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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16 Mar 2023 17:31

TRADING UPDATES: Inspirit Energy reports progress on Inspirit Charger

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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16 Mar 2023 16:58

Inspirit makes progress with 'Charger' unit

(Sharecast News) - Waste heat recovery technology developer Inspirit updated the market on Thursday on the Inspirit Charger - a unit designed for waste heat recovery in marine and automotive applications.

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30 Dec 2022 16:19

Inspirit Energy shares plummet amid AIM suspension after results delay

(Alliance News) - Inspirit Energy Holdings PLC on Friday said it would be unable to publish its audited annual report for the year ended June 30, and as such, would see its shares suspended from AIM.

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30 Dec 2022 13:32

LONDON MARKET CLOSE: FTSE 100 ends lower but holds ground in 2022

(Alliance News) - Stock prices in London finished the year on a lacklustre note on Friday, but the FTSE 100 was standing strong in comparison to similar stock measures elsewhere.

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8 Dec 2022 15:51

Inspirit agrees short-term working capital facility

(Sharecast News) - Waste-heat recovery technology company Inspirit has entered into a short-term, unsecured debt facility of up to $0.25m, it announced on Thursday, under which it would initially draw down $0.08m.

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8 Dec 2022 11:55

Inspirit Energy shares fall on USD250,000 short-term financing deal

(Alliance News) - Inspirit Energy Holdings PLC on Thursday said it had entered a short-term unsecured debt facility of up to USD250,000 with Riverfort Global Opportunities PCC Ltd.

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14 Sep 2022 18:27

CORRECT: Stocks red; UK inflation back to single-digits

(Correcting that it is Fundsmith Emerging Equities Trust which is planning voluntary liquidation)

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