Inspirit Energy Regulatory News (INSP)

11 September 2013

Inspirit Energy Holdings plc

("Inspirit" or the "Company")

Appointment of David Lenigas as Non-Executive Chairman

Inspirit Energy (AIM: INSP), the efficient energy technology company, is pleased to announce that David Lenigas has today been appointed as non-Executive Chairman of the Company with John Gunn, currently Executive Chairman, assuming the role of Executive Director and Chief Executive Officer.

David Lenigas, the new Chairman of Inspirit commented:

"Inspirit's new super efficient combined boiler and micro power station products represent an exciting technology that is now ready to move to real life trials and sales in commercial and residential premises. There is nothing on the market like it today that can match its unique ability to simultaneously generate 15 kilowatts of heat and 3 kilowatts of electricity at an overall efficiency of 92%. It is this feature, compared to the average 37% of grid generated supply that makes the Inspirit boiler so good for the consumer and the environment."

The global expansion opportunities for the Inspirit micro combined heat and power (mCHP) boiler, as it is known, are very substantial. Every Inspirit mCHP boiler will be a micro power station in its own right and with the electricity generation coming from waste boiler heat, will do its part in reducing greenhouse gasses and lessen Britain's reliance on importing expensive electricity from foreign power suppliers."

I am pleased to be working with the teams in London and Sheffield that are tasked with commercialising the Inspirit mCHP boiler and look forward to installing the first commercial units over the coming year. The Company expects that the Inspirit mCHP boiler will initially be marketed in the UK and Europe and eventually worldwide."

John Gunn added: "I am delighted that David has decided to join Inspirit, to help us drive the business forward and grow it into a successful manufacturer of micro combined heat and power boilers. He has a wealth of experience in public markets and his skills will benefit the company immensely as we achieve our first commercial orders."

David Lenigas has extensive experience operating in global public markets having served in a senior executive capacity on many public company boards. He is currently the Executive Chairman of Rare Earth Minerals Plc, Leni Gas and Oil Plc, AfriAg Plc, Solo Oil Plc and various other AIM listed companies. He has also served as Executive Chairman of London listed Lonrho plc for six years up to September 2012 and was responsible for Lonrho plc's expansion into over 20 countries in Africa in sectors covering agriculture, infrastructure, hotels, IT and aviation.

Notes to the Editors:

Inspirit Energy, is a company based in Sheffield and is currently developing a micro combined heat and power (mCHP) boiler for the commercial and residential markets. 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 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. 

Appendix - Information required under AIM rules

Save as disclosed below, there are no further disclosures to be made under Schedule Two, paragraph (g) (i) - (viii) of the AIM Rules for Companies. David Anthony Lenigas, aged 52, holds 3 million Inspirit ordinary shares representing 0.6% of the Company's issued share capital. Mr Lenigas also holds 1.5 million warrants that are exercisable into ordinary shares in the Company at a price of 1 pence per ordinary share at any time within 12 months from the Company's date of Admission. He has also provided the Company a draw down equity facility for up to £70,000 under which the Company has the option to issue to him new Inspirit ordinary shares up to an aggregate value of £70,000. The facility expires on 17 May 2015.

Current directorships

Polemos plc

AfriAg plc

Central African Investments plc

Solo Oil (Argentina) Limited

Stellar Resources Plc

Solo Oil International Limited

REM Mexico Limited

Rare Earth Minerals plc (formerly Zest Group plc)

Lonrho Air Three (BVI) Limited

Active Resource Realisation Fund

Solo Oil plc (formerly Immersion Technologies International plc)

Lonrho Aviation (BVI) Limited

Lonrho Air (2) (BVI) Limited

Five Forty Africa (BVI) Limited

Lonrho Air Africa (BVI) Limited

Lonrho Air (BVI) Limited

Five Forty Aviation Limited

Leni Gas & Oil plc

Past directorships held within the last 5 years

Certain of the directorships below, are positions held as a result of Mr Lenigas' role as a board director of Lonrho plc (from which he resigned in September 2012), and in respect of which Mr Lenigas has resigned and in some instances is awaiting formal confirmation from the local Companies House equivalent.

FastJet plc

Lonrho Mining Limited

Reef Resources Ltd

Tanzania Machines Limited

Tanzania Harvest Limited

Lonrho Ports Ghana Limited

Lonrho Ghana Ports Limited

LonAgro (SS) Limited

Benson Global Trading Limited

Buchanist Limited

RET Services Limited

Rare Earth Resources Limited

Lon Agro Tanzania Limited

Yuagong (Pty) Limited

Lonrho Hotels Nigeria Limited

Lonrho Hotels DRC Limited

Lonrho Hotels SA Limited

Lonrho Hotels Ghana Limited

Lonrho Hotels Kenya Limited

Lanitrim (Pty) Limited

Caropix (Pty) Limited

Lonrho Investments Limited

Lonrho Holdings Limited

Swissta Holdings Limited

Lonrho Plc

Lonrho Africa (Holdings) Limited

Strenner Holdings Limited

Lonrho Ports Limited

Oceanfresh Seafoods (UK) Limited

Lonrho Resources Ltd

Lonrho Finance Ltd

Lontel Ltd

Lonrho Water Limited

Fresh Direct Limited

Lonrho Oil (Malawi) Limited

Lonrho Infrastructure (BVI) Limited

Lonrho Hotels Congo (BVI) Limited

Indit Technology Distribution (Pty) Limited

Complete Enterprise Solutions (Pty) Limited

Lonrho Hotels Management Services (BVI) Limited

Lonrho Agriculture Angola Limited

Rollex (Pvt) Limited

Rollex (Pty) Limited

e-Kwikbuild SA (Pty) Limited

Lonrho Management Services Limited

Lonrho Zimbabwe Management Services (Pvt) Limited

Lonrho Africa Management Services (Zimbabwe) Ltd

Lonrho Africa Motor Sales Limited

Norse Air Limited

South African Independent Liners Services (Pty) Limited

Lonrho Africa Holdings BV

Lonrho Springs BV

Lonrho Air BV

Lonrho Ports BV

Lonrho Africa Hotels BV

Lonrho Hotels BV

Lonrho Hotels Mozambique BV

Lonrho Africa Agribusiness BV

Lonrho Africa Distributors BV

Lonrho Africa Food Processing BV

Lonrho Africa Motors BV

Lonrho Distributors BV

Lonrho Motors BV

Lonrho Agribusiness Limited

Laytons Offshore Limited

Lonrho Equipment Limited

Mozambique Machines Limited

Crop Harvest Limited

Oceanfresh Seafoods (Pty) Limited

Cultivate Harvest Limited

LAH Jersey Limited

Protea Seafoods

Hotel Accommodation Limited

Afex Holdings Limited

Lonrho Water Limited

Africa Expeditions Limited

Africa Expeditions TZ Limited

Africa Expeditions Uganda Limited

Best In Tents Limited

Global Horizons Limited

Lonrho Hotels Limited

LAH Mozambique Hotels Limited

DRC Hotels Limited

Lonrho Ports & Infrastructure Limited

Lonrho Infrastructure Limited

Lonrho Ports Limited

LAH Jersey 2 Limited

Fish On Line (Pty) Limited

Lonrho Support Services Limited

Lonrho Integrated Support Services Limited

Lonrho Hotels (Holdings) Limited

Lonrho Budget Hotels Limited

Lonrho IT Limited

LAH Jersey 3 Limited

Lonrho Transport Limited

Lonrho Logistics (Pty) Limited

Luba Freeport Limited

Lonrho South Africa (Pty) Limited

Lonrho Management South Africa (Pty) Limited

Lonrho Projects South Africa (Pty) Limited

Lonrho Projects Consulting (Pty) Limited

Lonrho Projects Agri (Pty) Limited

Lonrho Energy (Pty) Limited

Lonrho Securitec (Pty) Limited

Lonrho Amathonga Hotels (Pty) Limited

Swissta Mozambique Lda

Sociedade Comercial Bytes & Pieces Limitada

Afriag Limited

Cambria Africa plc (formerly LonZim plc)

Blueberry International Services Limited

Wardlaw (1989) Limited

Le Har (Pvt) Limited

Rex Mining (Pvt) Limited

Peak Mines (Pvt) Limited

Gardoserve (Pvt) Limited

Celsys Limited

ForgetMeNot Africa Limited

Lonzim Agribusiness (BVI) Limited

Quickvest 525 (Pty) Limited

Lonzim Air (BVI) Limited

Southern African Management Services

Paynet Limited

African Solutions Limited

Medalspot (Pvt) Limited

Blueberry Print (Zambia) Limited

Morningdale Properties (Pvt) Limited

Lanuarna Enterprises (Pvt) Limited

LonZim Hotels Limited

Celsys Zambia Limited

WS Foods (Pty) Ltd

Linus Business Options (Private) Limited

Firstfood Enterprises (Private) Limited

Chenyakwaremba Farm (Private) Limited

Leopard Rock Hotel Company (Pvt) Ltd

Lyons Africa Holdings Limited

Lonzim Properties Limited

Lonzim Holdings Limited

Micobe Property Development Limited

Lonrho Properties Zimbabwe (Pvt) Ltd

Sindu Properties (Private) Limited

One Hundred & Seventeen Baines Avenue (Private) Ltd

Sol Aviation Company Limited

670 Plc

Zest Music Limited

Zest Songs Limited

Zest Entertainments Limited

Reggae Tunes Limited

Complete Enterprise Solutions Limited

Aldeamento Turistico de Macuti, SARL

Lonrho Auto Distributors Limited

Textile Investment Company Limited

River Diamonds UK Limited

Vatukoula Gold Pty Ltd (formerly Westech Gold Pty Ltd)

Vatukoula Finance Pty Ltd (formerly Westech Finance Pty Ltd)

Vatukoula Australia Pty Ltd (formerly Westech Australia Pty Ltd)

Zimbabwean Investments Ltd

Lonrho Springs Limited

Lonzim Management Limited

Templar Minerals Limited

Vatukoula Gold Mines plc (formerly River Diamonds plc)

Byron Energy Pty Ltd

Lonrho Jersey Limited

Vatukoula Gold Mines Ltd

Jubilee Mining Ltd

Koula Mining Ltd

Our Forgotten Children Limited

Hot Tuna (International) Inc

BDI Mining Corp (formerly BM Diamondcorp Inc)

Deepgreen West Virgina Inc

GCM Resources plc

Asia Energy Corporation (Bangladesh) Pty Ltd

Asia Energy Corporation Pty Ltd

Concha plc (formerly Hot Tuna (International) plc)

David Lenigas was a director of SA Independent Liner Services Pty Ltd ("SAILS") when it was placed into liquidation on 15 October 2008 - it was a subsidiary within the Lonrho Plc group of companies ("Lonrho Group"). A unanimous board resolution placed SAILS into Liquidation, the Lonrho Group currently being the major creditor, with the liquidated business being shown as a discontinued activity in the historic financial statements of the Lonrho Group.

David Lenigas was a director of Norse Air Limited which was placed into liquidation on 20 December 2010 - at the point of liquidation it was a wholly owned subsidiary within Lonrho Group and was placed into liquidation by a unanimous board resolution of Norse Air Limited, with this business being shown as a discontinued activity in the historic financial statements of Lonrho Group.