Last checked at 26 Jul 2013 08:00
Inspirit Energy Holdings plc
("Inspirit" or the "Company")
Completion of Acquisition of Inspirit Energy Limited
Inspirit (AIM:INSP), formerly KleenAir Systems International plc, is pleased to announce that the acquisition of Inspirit Energy Limited has been completed and the Company's enlarged share capital was admitted to trading on AIM earlier this morning.
Inspirit is developing a micro combined heat and power boiler appliance for the commercial and residential market. The appliance will be fired by gas and is being designed to drive a generator that produces up to 3kW of mains voltage electricity (with the capability to be exported to the utility grid) whilst at the same time generating up to 15kW of thermal output for local use.
The Company's ticker is INSP and its ISIN number is GB00B44W9L31.
The Company's website, where the disclosures required under rule 26 of the AIM Rules for Companies can be found, is www.inspirit-energy.com.
John Gunn, Executive Chairman, said: "The successful completion of the acquisition of Inspirit Energy Limited allows the Inspirit team to move forward with certainty. The challenge is to swiftly commercialise our technology that has great relevance to our potential client base in this climate of austerity."
Contacts: | |
Inspirit Energy Holdings plc | www.inspirit-energy.com |
Jubeenh Nazhat, Director/Company Secretary | +44 (0) 207 048 9405 |
John Gunn, Director | +44 (0) 207 048 9400 |
Westhouse Securities Limited | |
Antonio Bossi / Jonathan Haines | +44 (0) 20 7601 6100 |
Notes to the Editor
Inspirit, a company based in Sheffield, is currently developing a micro combined heat and power appliance for the commercial and residential markets. The Appliance is powered by natural gas and designed to produce hot water (for tap water or central heating) and electrical output simultaneously. Once proven, Inspirit intends to explore opportunities to licence 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.