Member Info for observer842

Worth having another read of the introduction, especially this bit - I tend to believe what PB has to say more so than JG ;-)

"Half-year Report" (30 March 2020)
https://www.lse.co.uk/rns/INSP/half-year-report-pqwjduey1e2vcwn.html
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Design and Development Director Statement and outlook:

At the start of 2020 Inspirit Energy set up the manufacturing and testing site in Poland in readiness to implement the manufacturing and testing of the charger unit. The facility is set up for the manufacturing and testing of our developing technology.

We have progressed with very favourable discussions with the large marine engine manufacturer and these discussions are continuing. We have had other interest from waste recycling companies to adapt our technology to capture redundant waste heat and generate electricity, we are working on a large standalone unit which will produce over 300 Kw. Again, we will provide further updates in due course.
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Am I right in thinking that some believe this is all fantasy? LoL. You couldn't make it up. ;-)

Thanks for the kind messages everyone. @jimb - indeed, you may remember I compared the economics of the 3.2kW version against that of flow's offering, and ours blew theirs out of the water: I don't think I ever told them as such directly on their board - I just silently went for some fact gathering and returned here once gathered. Perhaps I should have? The 6.4kW is game changing: perhaps even suitable for homes (the 3.2kW was really only suitable for commercial if you ask me).

If this board were only full of those singing praise I'd now be adding balance to the above paragraph along the lines of: if only we had hard physical proof that it actually existed and did what it said it did! LoL ;-) I can understand the frustration from some on here... Let's see what accreditation brings!

@Phimx. I'm pretty certain you are more than capable of answering each and everyone of those questions yourself if you wanted to... I'll play devils advocate and give it a go. If you look back at my posts on here over the years I've laid into JG on occasion for lack of updates. If you haven't realised this is pretty much a "Trust me" share. You either trust him to eventually deliver or you don't. I admire CH for attempting to break this mould.

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Observer: they have never explained why all their statements have come to nought. Trials, testing, verification boilers, qualificatio nor production. To quote John G " we are now producing our first units" 2016. Never to be heard of again. The only statements ever released are self- congratulatory.
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Perhaps the 3.2kW version simply wasn't viable and it was back to the drawing board? We don't know the full story, but if you want to spin a positive (which this reply is about - it's not hard!) then perhaps they had a eureka moment and halted progress to focus on that 6.4kW which is proving successful?

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The sudden 100 % increase in output recently, this from a supposedly world leading product that had undergone thousands of hours rigorous testing.
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Eureka moment...

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The departure of key staff, silently slipping away into pastures new and on the eve of the great launch.
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We appear to be going down the partnership route rather than going it alone as we were for the 3.2kW version - the people who have left were not key to development: as far as I am aware the person who was/is key for development remains: Paul Booker.

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On NDA, they are quick to say they have developed schematics for the new applications, exactly what that means is anyone's guess. Schematics for me would be detailed drawings but why would you invest time and effort without announcing a significant contract and who pays for the work and in the middle of launching a world beating product. Why announce anything until you have something to crow about ? If it comes to nothing you failed but if you have a contract then you are a true business guru. They have sown the seed that it could be Volvo, why even sow that seed if NDA is active.
Nice Deceptive Activity !
]===

IMHO the announcement in November was about drawing enough interest from the market so that the CLN's could be exercised on the back of it (as I suggested would be the case when I was buying in well below the exercise price), and so that a placing above this price was possible. If we were debt free with cash in hand, I'd say it would have been very likely that we would have heard zilch until we were further down the line, as you say. It's how a lot of AIM works. Not saying I like it! Release sufficient news to raise funds. You realise on the next update, especially if a name is dropped, this could go ballistic right? Surely you realise this?

Nice gag re NDA ;-)

Ob.

Thanks @Phimx. A fairly balanced reply. One obvious answer around your line of questioning, and is quite usual at this stage, is that we have entered the partnership under NDA terms, presumably for commercial sensitivity reasons, meaning we are currently unable to announce the details of progress or indeed who exactly our partners are.

If this is not the case, then the BoD really do need to explain themselves!

Thanks @jimb, pretty much agree with your sentiments there. Though make no mistake regarding: "the company obviously doesn't have the resources-both financial and manpower", on the right news the mcap could easily move into the double digits from which raising the necessary funds for the next stages of commercialisation should be a breeze.

@Phimx as I said, there is much research taking place regarding energy recovery and cooling related to wind farms. CH is in the wind farm industry. We are in the energy recovery industry. 1 + 1 = 2. Here is an example which specifically mentions Stirling engine and wind farms. Keep the discussion cordial eh?

"Machine e.g. electrical machine, has energy recovery device i.e. cylindrical-piston stirling motor, converting heat energy into electrical or mechanical energy and coupled with cooling device" (2009)
https://patents.google.com/patent/DE102009034608A1/en
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In Another embodiment of the machine has the energy recovery device a thermovoltaic generator on. The thermovoltaic generator can be present in place of the stirling engine or in combination with be operated this. By a combination of the Stirling engine with The thermovoltaic generator can recover more energy loss so that the efficiency of the machine can be increased.
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The Machine having the electric machine and the energy recovery device is for example in a wind turbine, a pump, a Fan, a drive device z. B. for a rolling mill or a printing press, but can also be used in a power plant. When used in one or in several wind turbines, the efficiency can be increased. This is particularly advantageous in a wind farm in which as well an energy recovery device for many Wind power generators can be used. Is the wind turbine in Set up sea so there is a medium with the sea water which has an approximately constant low temperature. The Seawater can be very much heat energy record is therefore good for it suitable both the Stirling engine as well as the thermovoltaic generator the Role of the heat sink to take over.
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If warrants were issued (which isn't nailed on) they should have been announced here IMHO:

"Loan Note conversion" (25th Nov 2019)
https://www.lse.co.uk/rns/INSP/loan-note-conversion-9tlxnijcxq0isfy.html

and they were expected to expire 12 months to that date - well the vast majority were, there were a handful converted the following month, presumably by those who weren't paying attention. LoL.

"Issue of Convertible Loan Notes" (4th May 2018)
https://www.lse.co.uk/rns/INSP/issue-of-convertible-loan-notes-357jdmv839c8x3k.html
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The conversion is at the full discretion of the Company and on conversion, each new Ordinary Share will attract a half warrant (one warrant issued for every two CLNs converted) at the relevant conversion price valid for 12 months from the date of issue.
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Now that *would* be interesting if CH has managed to get hold of a large portion of the warrants! Fireworks if so. Might explain why he stopped at 6% knowing he can exercise to much larger than this should he need to. Might be worth figuring out exactly how many he may have - under the assumption he didn't manage to acquire the BoD's? LoL!

Just thinking about this a bit more. I suspect the plan would be to integrate Inspirit's tech into a 250kW module directly so that the heat from the module can be connected directly to our tech. i.e. it forms the hot plate, perhaps 200-300C? But obviously less than the demagnetisation point I linked to earlier... Just thinking out loud ;-)

LoL @Phimx. I hope you are joking! My links demonstrate that heat engines are being considered for energy recovery from waste heat, wind turbines in particular. Here is a comparison paper between the two technologies if anyone is interested:

"Comparison of ORC Turbine and Stirling Engine to Produce Electricity from Gasified Poultry Waste" (August 2014)
https://www.researchgate.net/publication/265203127_Comparison_of_ORC_Turbine_and_Stirling_Engine_to_Produce_Electricity_from_Gasified_Poultry_Waste
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The Biomass Research Centre, section of CIRIAF, has recently developed a biomass boiler (300 kW thermal powered), fed by the poultry manure collected in a nearby livestock. All the thermal requirements of the livestock will be covered by the heat produced by gas combustion in the gasifier boiler. Within the activities carried out by the research project ENERPOLL (Energy Valorization of Poultry Manure in a Thermal Power Plant), funded by the Italian Ministry of Agriculture and Forestry, this paper aims at studying an upgrade version of the existing thermal plant, investigating and analyzing the possible applications for electricity production recovering the exceeding thermal energy. A comparison of Organic Rankine Cycle turbines and Stirling engines, to produce electricity from gasified poultry waste, is proposed, evaluating technical and economic parameters, considering actual incentives on renewable produced electricity.
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No @Phimx. It was an example of how heat engines are being explored for heat recovery purposes in wind farms... You didn't seriously think I was suggesting otherwise did you?

Regarding efficiencies of Stirling engines at low temperatures it might be worth taking a look at:

"25 kW Low-Temperature Stirling Engine for Heat Recovery, Solar, and Biomass Applications" (2016)
https://www.ohio.edu/mechanical/stirling/ISEC_papers/ISEC2016-CoolEnergy.pdf
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This paper covers the design, performance optimization, build, and test of a 25 kW Stirling engine that has demonstrated > 60% of the Carnot limit for thermal to electrical conversion efficiency at test conditions of 329 °C hot side temperature and 19 °C rejection temperature. These results were enabled by an engine design and construction that has minimal pressure drop in the gas flow path, thermal conduction losses that are limited by design, and which employs a novel rotary drive mechanism. Features of this engine design include high-surfacearea heat exchangers, nitrogen as the working fluid, a single-acting alpha configuration, and a design target for operation between 150 °C and 400 °C.
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whilst noting that:

https://www.greenspur.co.uk/technology
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Low temperature sensitivity (Curie Point 460°C) – making cooling easier and maximises use of generator footprint
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@Phimx. We don't know the efficiencies at lower temperatures for this tech, and besides they may not be quite as low as you suggest. If you are doubting whether Stirling engines (or other heat engines) are worth considering for energy recovery in wind farms I suggest you following the search terms I gave yesterday. e.g. take a look at this paper:

"An evaluation of wind turbine waste heat recovery using organic Rankine cycle" (20 March 2019)
https://www.sciencedirect.com/science/article/abs/pii/S0959652619300095
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Highlights

A novel method for wind turbine cooling using organic Rankine cycles is proposed.

The proposed method can produce power while is cooling the wind turbine.

ORC is modeled in both energy and exergy approach with different working fluids.

A multi-objective optimization is applied for economical evaluation.

A 7.1?kW power is utilized through the wind turbine cooling using R134.
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and there are lots of patents that are considering waste heat recovery (and cooling) for wind turbines. For example:

"Machine e.g. electrical machine, has energy recovery device i.e. cylindrical-piston stirling motor, converting heat energy into electrical or mechanical energy and coupled with cooling device" (2009)
https://patents.google.com/patent/DE102009034608A1/en

If you believe CH intentions are pure, then he almost certainly wants in so as to be able to adapt Inspirit's tech to their wind turbines. And even if they aren't pure... LoL.

Ob.

@Phimx, Look back through my posts on here for all the patents relating to Inspirit Energy. As to perpetual energy: I'm not suggesting a single recycle: it would be impossible for the system to distinguish that! LoL. Any way, so long as electricity generated + total heat departing system < energy input, it's not perpetual energy. None of my examples suggested that would be the case. Also, I'll repeat again - I don't know how they increased from 3.2kW to 6.4kW whilst keeping the input energy the same (20kW). Perhaps the heat simply passes through 2, where previously it passed through 1? In serial, in parallel? Regardless, so long as the efficiency is less than the maximum theoretical efficiency for a Stirling engine (Carnot cycle) on balance I'm prepared to give them the benefit of the doubt. 32% seems doable with this tech IMHO.

Cheers @Jimb. I just noticed your Strong Buy, which made me look at my Opinion, and damn!, I knew I was going to accidentally mark this share as a Strong Buy at some point no matter how much I tried not to - been posting on a Strong Buy share for far too long, and at the same time! LoL.

Anyway. I didn't intend to specify an opinion, which means I'm not currently declaring whether I currently have a holding or not: don't hound me out of here if I appear to troll, I'll try to counter-balance if I have anything negative to say, and similarly so if I get too positive. LoL! ;-)

I've got a few theories I might divulge another day on how current events might unfold - I slapped myself on the back when I correctly predicted to myself that the increase to 6% might be "hostile" in nature. :-) Quotes of course, since he's not really being "hostile", only trying to help long-suffering shareholders. LoL.

Do you believe the warrants associated with the CLN's were ever issued? I was surprised not to see any mention of them in the half year report, so perhaps not? But perhaps they weren't obliged to report since it was only half year, not full year, and why would they if they hoped the market had forgotten? I wonder if CH was/is aware?

Ob.

Interesting times indeed @jimb2. Personally I think they've doubled the peak output by introducing a system which enables a certain quantity of the hot gasses which have already passed through the Stirling engine to go through it again. Being able to tune the quantity of recycling is useful as it means that you can tailor your output depending on if it is heat led demand or electricity led demand. For example, off 20kW input, if the demand is electricity led you might get 6.4kW generated and say 10kW or so of heat which is used or stored in a hot water store. Where if it is heat led, you might get 3.2kW generated which charges a battery or feeds into the grid if it can't be used at that point, and say 15kW or so of heat generated - or anywhere between the two. Additionally, you don't need to burn at full 20kW if the demand is low, it can be reduced to around a third of this if I recall correctly.

Pure speculation of course because the technology is being kept under wraps. It's revolutionary! Or non -existent. LoL.

This is worth a read, and demonstrates how the margins for wind turbines are small. Every percentage matters! If the inspirit tech can increase the energy generated by 2% or so whilst efficiently cooling the motors, it could make all the difference.

"Offshore wind turbine 20MW generator ready 'within three years'" ( 24 November 2019)
https://www.rechargenews.com/wind/offshore-wind-turbine-20mw-generator-ready-within-three-years/2-1-711845
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Replacing high-price rare-earth materials with ferrites – a waste material produced in steel-making – would cut the cost of PMG magnets from £40/kg ($50/kg) to around £1/kg, according to GreenSpur calculations, meaning the design could carve around 33% out of the capital cost of direct-drive generator, and so almost 5% off the price of a turbine.
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2% on 20MW name plate is almost half a megawatt! Remember, this isn't one giant Stirling engine, we are talking modular design: 250kW each, presumably generating of the order 5% heat (could be more. I don't know) which is around 12.5kW. Pretty much in Inspirit's sweet spot. :-))))

Ob.

As noted here:

"Christopher Heminway Inspirit Energy Holdings plc (“Inspirit” or the “Company”) 6% Shareholder Considers General Meeting Requisition Invites Independent Shareholders to Contact Him" (14 August 2020)
https://www.rns-pdf.londonstockexchange.com/rns/2323W_1-2020-8-14.pdf
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the implementation a broader corporate strategy of investment in renewable technologies and in particular the potential for using Stirling engine technology in waste heat recovery and, specifically, waste heat-to-power applications in which the TTA Board has considerable expertise.
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@Phimx: INSP's tech is supposedly 30% efficient (not 10% as you state) at converting heat into electricity, but perhaps only at hotter temperatures, leading to around 1.5% additional energy off the stated 5% waste heat (which is about right for conventional motors using Rare Earth's - it might be higher for these new ones though?). But I think you are missing the point, something has to cool the wind turbine, and if it can generate electricity in doing so you have yourselves a nice little USP for a company bringing a new product to market ;-)

For those who want to research the topic I suggest this google search: "waste heat from wind turbines"

According to HL: Date: 21.03.2019 Open: 11.00 Trade high: 39.99 Trade low: 11.00 Close: 38.00