Inspirit Energy Holdings PLC - developer of combined heat and power boilers - Posts a widened pretax loss of GBP277,000 for the year ended June 30 compared to GBP240,000 the year before. Inspirit is not yet generating revenue. The loss was driven by rising administrative costs. Looking ahead, Inspirit says it is currently in the process of "refocusing its expertise in the application of the Stirling engine technology in different sectors", including in marine and waste heat recovery. The development of a gas or hydrogen powered micro-combined heat and power boiler was also singled out as a focus for 2022.
"Despite the global slowdown and access to materials, the operating board believe that the company has maintained a positive progress over the last year in the alternative applications of the Stirling engine and there is strong evidence of the need to refocus our strategic objectives towards these areas that include marine and waste heat recovery," comments Chair & Chief Executive John Gunn.
Current stock price: 0.048 pence
Year-to-date change: down 21%
By Will Paige; willpaige@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Inspirit Energy (INSP)