Last checked at 23 Dec 2014 12:17
INSPIRIT ENERGY HOLDINGS PLC
(AIM: INSP)
Result of Annual General Meeting
Inspirit Energy Holdings Plc ("Inspirit" or "the Company") announces that at its Annual General Meeting held on 23 December 2014 all resolutions were duly passed. Full details of the resolutions passed are available in the General Meeting circular which is available on the Company's website, www.inspirit-energy.com.
The Board of Inspirit is pleased with the progress it has made in the last year and hopes to have increased news flow to shareholders in the New Year. The business is currently developing in line with the Board's expectations.
For further information please contact:
Contacts:
| |
Inspirit Energy Holdings plc | www.inspirit-energy.com |
John Gunn, Executive Director | +44 (0) 207 048 9400 |
Jubeenh Nazhat, Executive Director/Company Secretary
| +44 (0) 207 048 9405
|
Westhouse Securities Limited | |
Antonio Bossi / David Coaten | +44 (0) 207 601 6100 |
Beaufort Securities (Joint Broker) | +44(0) 207 382 8300 |
Jon Levinson | |
Public Relations: | |
Square1 Consulting | |
David Bick | +44 (0) 207 929 5599 |
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.