Some of the cash is going .m28 May 2024 07:34
("Inspirit Energy", "Inspirit" or the "Company")
CONTRACT FOR THE SUPPLY OF GOODS
Inspirit Energy Holdings plc, the AIM listed developer of micro combined heat and power boilers and waste heat recovery, is pleased announce that is has secured an order to develop and sell an Inspirit Waste Heat Recovery ("WHR") engine ("WHR002") to EQTEC plc, a technology innovator and licensor of waste-to-value solutions.
The contract is to supply one initial unit for Β£150,000 and an option for a further 10 units at Β£150,000 each from three years of the date of the agreement. EQTEC is evaluating offering these units as part of its industrial decarbonising solutions for combined heat and power (CHP) to industrial clients and utility companies.
EQTEC plc (AIM: EQT), is a global technology innovator powering distributed, decarbonised, new energy infrastructure through its waste-to-value solutions for hydrogen, biofuels, and energy generation. The WHR002 unit is expected to generate up to 130 kWH and would lead to energy efficiency, reduction in carbon output as well as reduction in payback time for the initial appliance investment.
The initial payment will be a non-refundable amount of Β£95,000 and the balance after 6 months, and these proceeds will go towards the final testing, continuing development and delivery of the unit.