(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.
The London-based waste heat recovery technology and decarbonisation engineering solutions company said the unit could produce up to a 30% performance enhance on some commercial engines, which could reduce CO2 emissions.
After the stage two build and testing was complete, the unit provided a consistent performance with peak output reaching 97 kilowatts, the company said.
The firm added that it has carried out longevity testing on stage one and two of the waste heat recovery system which it expects to complete by the first quarter of 2024.
Chair John Gunn said: "The technology the company has developed could have a significant impact on applications within the automotive industry where manufacturers seek to enhance performance from the recovery and electrification of waste heat. The commercial potential would seem boundless and Inspirit is extremely optimistic about the commercial prospects for the business.
"To the best of our understanding, we remain unique in this space at a time where manufactures of combustion engines are seeking to create more efficient engines for commercial vehicles. The market for industrial applications is another exciting market, with the growing pressure for industrial groups to decarbonise operations and drive energy efficiency whilst reducing the reliance on fossil fuels."
Inspirit Energy shares fell 16% to 0.020 pence each on Monday morning in London.
By Tom Budszus, Alliance News reporter
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Inspirit Energy (INSP)