Member Info for Phimx

Sharebel: Could you expand on the backing and support Volvo are providing please ? Are they providing a D13, money, people. Or is it possibly just a pleasant letter saying "it seems like an interesting proposal .... BUT turn it into reality and then we'll talk business "

So, you've done your research and what conclusion does a sensible person come to ???????????

Inspirit (LSE AIM: INSP) is pleased to announce that Calor Gas Ltd the UK's leading supplier of liquid petroleum gas has agreed to the installation of one of Inspirit's highly efficient mCHP micro co-generation boilers ("mCHP Boiler") at one of it's customer sites when commercial units become available later this year.

WHAT HAPPENED -------------- NOTHING

The Company continued to engage with key launch customers for the Inspirit Charger and prepare for the commercial launch of the product during the period.

WHAT HAPPENED ---------------- NOTHING

Inspirit Energy is pleased to announce that an agreement has been reached with Barchester Healthcare to install a micro-CHP unit in one of its Care homes as part of the Inspirit Energy Field Trials.

WHAT HAPPENED ----------------------- NOTHING

Inspirit Energy (LSE AIM: INSP) is pleased to announce that it has now signed a Letter of Intent ("LOI") with a major multi national contract manufacturing services company that may lead to a significant manufacturing agreement being finalized during this quarter.

WHAT HAPPENED ----------------------- NOTHING

The results of the tests will allow the Inspirit Charger to obtain certification for field trials, which are due to commence in Q2 2016.

WHAT HAPPENED ----------------- NOTHING

Inspirit Energy Holdings plc, the AIM listed developer of micro combined heat and power boilers, is pleased to announce it has entered into a collaboration agreement with the Chartered Institution of Building Services Engineers (CIBSE).

WHAT HAPPENED ----------------- NOTHING

In 2020 we expect to produce our first unit with the assistance of our engineering partner in Poland. The success of the unit will allow us to have a unit ready for batch production.

WHAT HAPPENED ---------------- DATE FOR PRODUCTION IN 2021 REMOVED FROM WEBSITE BY BYE VHARGER

Whilst this DFM process remains ongoing, the Group is now looking to proceed to the certification process whereby the Inspirit Charger will be subjected to testing by a competent authority. Once this has been achieved, we can then look towards commencing field trails with commercial partners.

WHAT HAPPENED ------------------------- NOTHING

! st April 2015 John Gunn states:-

The new appliance control and power electronics set for the 2kWe and 3kWe variants have been delivered and commissioned at our Sheffield laboratories by Sentec (our controls development partner). This will allow the delivery of our first production appliance to a major utility shortly. Additionally we will have a demonstration appliance installed in our Sheffield facility for demonstration purposes and further deliveries will continue thereafter to our selected customers.

WHAT ACTUALLY HAPPENED ------- NOTHING !

2 kWe Version ------------ WHERE DID IT GO ?

Sharebel: I put my out my interpretation of the RNS and you can put out yours, it's up to investors to decided on which version they want to accept. Historically the actually EVIDENCE of previous RNS statements, not your desperate hope, will prove my interpretation correct. I'm sure people with common sense want to hear both sides of the argument so they can make an informed choice.
Filter away you, can't stop others reading a common sense post but it narrows your perspective.

And does all your research tell you that Inspirit has fullfilled it's previous RNS pledges, promises and hopes - NOT IN THE SLIGHTEST.

DEL1sh: It's not a matter of being genuine. It's how you interpret the SVP's comment and John Gunn's spin, i.e. making the most of it to stop CH getting a seat on the board. A lot of Inspirit's RNS statements have been about more more spin than substance, there is a historical record of those for you to make up your own mind and anyone else that has the sense to read them. All have come to nought.

"Inspirit has an interesting proposition with the development of its Waste Heat Recovery technology which aligns with our own aims of increasing the efficiency of the engines we manufacture in support of Volvo's Agenda 2030 sustainability objectives"

He admits Inspirt have an interesting proposition , not an interesting product nor an interesting device nor an interesting prototype simply AN INTERESTING PROPOSITION based upon a model they took to Sweden. Anyone could go to Volvo with a proposition, it's a very long way from a working device that can be sold or licensed.

He goes on to say " On success of the application, we believe this proposal will enhance the development of innovative solutions that will unlock new market opportunities for us particularly for generator sets and marine engines."

So if it works Volvo could use it but also bear in mind Volvo are working on their own Stirling research and my money says they will work far quicker, have more money and IQ to throw at the problem and produce something before Inspirit.

Volvo have committed absolutely nothing to Inspirit, after all it was simply a letter of support from Volvo. JG is desperate to stop CH getting inside

So, does anyone actually know what a letter of support is ?
What does it say in the letter ?
When was the letter received by INSP ?
Does the letter promise anything ?

As usual an INSP RNS is a smokescreen of difficult to decipher words and phrases.

' a letter of support for the development of a Waste Heat Recovery ("WHR") system ' so from this phrase we deduce a system has yet to be developed since it uses 'a' instead of 'the'

Then we have a different turn of phrase ' The WHR system utilises Inspirit's proprietary Sterling engine technology' notice it does not say WILL utilise, implying the system exists !

'its compact nature enables it to be positioned in the exhaust system ' so again this suggests it exists and has small dimensions

' increased engine efficiency by approximately 20%, driven by waste heat from e.g. a Volvo Penta D13 series engine. A very confusing statement , the use of 'e.g' implies the process was being modelled using a D13 as an example engine. Since the whole thing talks of models then nothing was actually hooked up to a D13 in January. So an actual system does NOT exist.

The technology will be tested over the next 12 months and if successful may lead to a test of the system in a Volvo engine to confirm the efficiency and output' Note the use of 'may' surely Volvo will test ! This also implies the system exists and simply needs testing. Tested on what ? surely Volvo will loan them a D13 since they are supporting the venture ? But no it doesn't say that.

What exactly are Volvo giving to INSP towards this project apart from a nice letter, which we are unable to read. Where is the funding coming from ?

Peter Granqvist, SVP Product Dev. Planning and Purchasing, Volvo commented:
"Inspirit has an interesting proposition with the development of its Waste Heat Recovery technology which aligns with our own aims of increasing the efficiency of the engines we manufacture in support of Volvo's Agenda 2030 sustainability objectives. On success of the application, we believe this proposal will enhance the development of innovative solutions that will unlock new market opportunities for us particularly for generator sets and marine engines."

This statement implies the system does not exist, it is a proposition only; further confirmed by his remark ' On success of the application ...'

So Volvo are quite happy to support INSP idea and if it ever sees the light of day come back and we'll talk some more !!!

Why don't don't the board want CH to join them ???????????????????????

So without shedding any light, indeed not a single photon, on the Charger JG has created a feeding frenzy and the mugs are buying in. Don't know where the warrant shares have gone but potentially they have almost negated CH's now 8.4% and, again potentially, given JG and allies the upper hand. If CH wants to find out what Inspirit have or don't have, he now needs to start spending proper money, otherwise he'll be locked out.

Just to reiterate Volvo have given nothing to Inspirit, so this share price won't be sustained for long.

if you are sat on a 100% gain take it and be happy, don't get greedy !

At the very least what is needed is a statement:

The final design has been completed and a verification boiler has been built to that design. All certifications have been obtained and now the pre-production Chargers will be demonstrated in real world scenarios to confirm its performance.

Volvo won't commit to anything until JG can show them the goods - working. A nice Letter of Support isn't money in the bank.

Frenzy replace common sense. I have to admire the carefully crafted INSP statements, they imply much but say little.

Putting another slant on the RNS.

JG has managed to get a letter of support from Volvo. In turn Volvo say yes from your model and demonstration there might be something in it, we should be able to get about 20% efficiency improvement by producing some additional electric from our engines, using the D13 as an example.

BUT you have to produce one and eventually we may try it in a real engine to see what we actually get.

So, the date for the launch of the Charger has vanished - implying - no launch this year and no launch next year. So no millions of replacement boilers for Europe, as touted for years.

NOTE WELL: It is not a product update, there is no information as to the state of the product or if the product has been built. The technology will be tested for the next 12 months, what happened to all the previous testing ?????

The statement is nothing but an update on the Sweden visit back in January. Notice there isn't even a commitment by Volvo to test the finished product.

Of course this will create an avalanche of wishful thinking pushing the device and possibly the share price to new heights but when reality takes hold and more money is required the price will come down again - be warned - what goes up comes down.

Carefully crafted carrot- on-a-stick, the emphasis can now switch to the "Volvo Project" for the next couple of years

I noted the 2021 date over the weekend, interesting that it has been removed. I wonder if it hints at a possible upcoming statement that production will commence shortly and the 2021 made a mockery of any such claim. A wild guess but an unusual change to make when Covid is already a fine excuse for delays.
The message coming from the company supports the doubters, even with any kind of positive announcement, would it have happened withouthou the CH intervention ?

Of course 'the big RNS' could equally say " after dithering for a decade and spending most of the money raised on keeping our pockets lined, the board thinks it's no longer in the best interests of share holders to continue with the Charger development. With electrical generation switching quickly to wind and solar sources and costs falling the Charger model is no longer viable. Failure to obtain contracts, after protracted talks, have further highlighted our poor management and outdated expectations of this product. The costs and risks involved in producing a world class product are excessive and beyond our interests or capabilities, we have other irons in the fire. We apologise to all that contributed to our great life style and hope you will continue to support our other ventures.

Bye bye and God luck