Last checked at 21 Mar 2016 07:00
21 March 2016
Inspirit Energy Holdings Plc
("Inspirit" or "the Company")
Cogen Europe 2016 Snapshot Survey
Inspirit Energy Holdings (AIM: INSP), the London AIM quoted developer of 15kW thermal/3kW electrical and 10kW thermal/2kW electrical micro Combined Heat and Power (microCHP) boilers for commercial applications, welcomes the COGEN Europe Snapshot published this week which outlines the potential for future growth in CHP in Europe.
The 2016 Snapshot Survey highlights that there are segments of the CHP market that are expected to grow significantly in the coming years, including the commercial and renewable CHP sectors which are showing strong growth potential in the short to medium term. Inspirit's microCHP boilers are targeted initially at the commercial CHP sector where they can make a meaningful contribution, particularly given their very low maintenance costs, a result of Inspirit's 'Sealed for Life' approach.
John Gunn, Executive Chairman and CEO of Inspirit, commented, "We are very encouraged by the findings of the snapshot survey taken by COGEN which shows that not only is there a great opportunity for the Inspirit Charger in the UK but also in mainland Europe where the market is developing at a fast pace."
More information on Inspirit Energy can be seen at: www.inspirit-energy.com
Contacts:
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Inspirit Energy Holdings plc |
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John Gunn, Chairman and CEO | +44 (0) 207 048 9400 |
Nilesh Jagatia CFO
| +44 (0) 207 048 9405
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Stockdale Securities Limited (Nominated Advisor and Joint Broker) |
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Antonio Bossi / David Coaten
| +44 (0) 207 601 6100 |
Peterhouse Corporate Finance (Joint Broker) |
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Lucy Williams / Duncan Vasey
| +44 (0) 207 469 0930 |
Cadogan Leander |
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(Financial Public Relations) |
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Christian Taylor-Wilkinson / Alex Walters | +44 (0) 207 520 9267 |
About Inspirit Energy Holdings Plc
Inspirit Energy Holdings plc, is developing and commercialising a highly efficient micro combined heat and power (mCHP) boiler for commercial applications. The boiler is specifically designed to meet the challenge of reduced carbon energy supply and is capable of running on natural gas, LPG and Bio Fuels. The appliance produces hot water (for tap water or central heating) and electrical output simultaneously. The installation can be of single or multiple configuration and its high operating efficiency together with the off-set of electricity costs provides a very attractive investment payback proposition.
Inspirit intends to explore opportunities to license out the underlying technology and the Directors believe that, in some instances, the patents owned by Inspirit may be also used in the development of products other than a mCHP appliance. A prototype of the appliance has been independently tested and shown to be capable of simultaneous generation of up to 15kW thermal and up to 3kW electrical output. Once development of the appliance has been completed and commercialised, the Directors expect that the appliance will initially be marketed in the UK and Europe and eventually worldwide. Additional revenue streams may be possible through product licensing, sales of warranties and further development of the product.
About COGEN
COGEN Europe (www.cogeneurope.eu) is the European association for the promotion of cogeneration and is based in Brussels, Belgium. Each year, COGEN Europe takes a "snapshot" of business confidence in the CHP sector by gathering the expertise of national CHP representatives from across Europe. The 2016 Snapshot Survey covers 19 countries from the European Union and Turkey, capturing trends in 90% of CHP installed capacity across Europe. Building on national CHP experts' input, the Snapshot Survey offers an overview of the latest CHP market trends and policy developments, also providing a five-year outlook into the CHP sector prospects.