LONDON (Alliance News) - Shares in Inspirit Energy Holdings PLC were trading higher Monday morning after it said it has signed a strategic agreement with UK residential care provider the Caring Homes Group, to install its energy efficient boiler-generators when it becomes available for key customer testing later on this year.
Inspirit is developing what it claims is a highly efficient micro combined heat and power boiler for the commercial and residential markets.
The company said it hopes the successful trials of the appliance with Caring Homes will potentially lead to significant orders into their extensive network of care homes throughout the UK.
Earlier this month, Inspirit signed a manufacturing agreement with boiler manufacturer Malvern Boilers Ltd to produce the initial volumes of its mCHP boilers.
"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," said Chief Executive Officer John Gunn in a statement.
Inspirit shares were trading 6.9% higher at 1.95 pence per share Monday morning.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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Inspirit Energy (INSP)