(Alliance News) - Inspirit Energy Holdings PLC said on Wednesday it has been taking further steps in applying its Stirling engine technology in diversified sectors, such as solar, renewable and refrigeration.
Inspirit Energy shares were up 86% in London at 0.065 pence each on Wednesday.
The company, which develops micro combined heat and power boilers, said it has been invited to demonstrate its Stirling technology to a "large scale Swedish Marine engine manufacturer" with a view to design and produce a unit application for the marine and shipping industry.
"If successful, such application could generate a significant contact for the company", Inspirit said.
Inspirit Energy also said it has created a smaller prototype of the Stirling engine casting using 3D printing methods with its partners in Poland and it expects to produce its first unit in 2020.
"The success of the unit will allow us to have a unit ready for batch production," the company said.
Paul Booker, director of Design and Development, said: "The journey with Inspirit has not been as straight forward as we would have liked, but we have learned so much and developed a technology which has 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," Booker added.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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Inspirit Energy (INSP)