LONDON (Alliance News) - Inspirit Energy Holdings PLC on Monday said it has signed a letter of intent with an unnamed multinational contract manufacturing services company for its mCHP boilers.
Inspirit said the letter of intent signed may lead to a significant manufacturing agreement being finalised in the quarter to the end of March.
Inspirit did not provide any financial details on the contract.
"The terms of the letter of intent remain confidential at this stage. However should Inspirit and the global manufacturer enter into a binding manufacturing agreement, Inspirit envisages a significant boost to the business and its ability to manufacture and deliver a significant volume of the Company's mCHP's globally, whilst minimizing the requirement to fund equipment, tooling and working capital," said Inspirit Chief Executive Officer John Gunn.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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Inspirit Energy (INSP)