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Supposition after supposition after supposition. Never any proof, just two consistent posters trying to hype the un-hyable. Good for a laugh or two.
Come on observer842 and dougal66, ask JG to answer the following questions?
Can we have some supporting information / documentation? Or is this too much to ask???
How is the doubling of output power achieved? What is the overall size difference between the previous and current generations of the product? What is the input gas requirement for the 6.4 output, and for the 3.2output?
And none of the above information will give away any secrets, so no excuses not to provide. Otherwise, this is only hot air. I am very happy to be proven wrong, but I doubt I will be.
The "European engineering group" isn't necessarily Polish.
Why haven't we been told who this group is, we are after all collaborating with them? NDA's seem the most likely, especially if the group intends to commercialise the Charger through a joint venture or licensing, or some other arrangement.
Fingers crossed we are reading this right eh @dougal!? ;-)
Almost certain certification started Jan-March 2019. 6.4kW without increasing thermal output is commercially significant. INSP only had 175k @ Dec 2018 and must be incurring expenditure in connection with certification since then. If our overheads are being funded by this Polish firm, that is more than just a collaboration in my book.
By the way, I'm of the view we wouldn't have had an announcement in April had the hornet's nest not been stirred. JG tends to treat this company as being private as of late, which is not surprising really given how much he owns of it... A good prod from our nomad probably triggered the most recent RNS IMHO.
I'm suspecting that the BoD's policy the past few years here is silence until certification and/or funding news. And I can understand why given all that was said in the run up to 2016: head down until can face the camera on the back of great news.
The first we got an inkling about the 6.4kWe was in the year end report in December which stated:
===[ Inspirit Energy’s new “British Engineered” mCHP boiler is one of the industry’s most powerful and energy efficient mCHP appliances for its size with simultaneous generation of up to 15 kilowatts of thermal output and up to 6 kilowatts of electrical output. The mCHP boiler has been designed to be low maintenance and can be installed by a certified gas-safe tradesman. The appliance’s patented engine takes the waste heat from the boiler and converts it efficiently into electricity, first supplying the property where it is installed and then feeding surplus electricity into the National Grid. ]===
I dismissed this as a typo at the time, but it's already likely they had demonstrated a configuration which produced twice the electrical output of the standard 3kWe, which had been increased to 3.2kWe, but perhaps not tested continuously in the 6.4kWe configuration at the time.
The most important point of the most recent announcement:
===[ The above improvements and efficiencies have provided the Charger with peak electrical output in excess of 6.4kW of electricity during a running cycle of 2,000 hours against the unit’s previous output of 3.0kW, whist maintaining 15kW thermal output and a 20% reduction in the size of the appliance to below 800mm. ]===
is whether that 6.4kWe has been independently verified. It certainly fits the timeline. e.g. discussions start in December 2018; European engineering company perform tests during the 2,000 hours running cycle to April 2019; they are convinced that what we have is real and game changing; collaboration formed.
My guess the certification discussions concluded successfully with certification process starting between Jan-March 2019
What I really don’t get is in May 2018 parties stumped up 845k to clear existing debt and provide new cash of 530k. Only 175k left @ Dec 2018. Looks as if something potentially commercially significant happened between Jan-May 2018.
I am certainly curious about this 6.4kW over a running period 2000 hours (3 months)
As I've said previously - it's possible we've cut back to the absolute minimum outgoings, waiting on progress on various fronts to be made. For example funding arrangements.
As for the certification process. The year-end quote was:
===[ The Group is currently in discussion with a European company that may carry out the certification process with the new cheaper but robust material employed in the latest model. ]===
and the 29 March 2019 quote was:
===[ The Group has continued discussions with a European company that may carry out the certification process, with the new cheaper but robust material employed in the latest model, and advanced manufacturing processes as and when the product is approved for production. ]===
And from the 26 April 2019 product update RNS:
===[ As set out in the Company's half year report, the Company has been working to advance its microCHP boiler towards commercialisation. --- The Company is in the process of moving its facility from Sheffield to Glogów malopolskiin Poland, in collaboration with a European engineering group. ]===
Reading between the lines one might conclude that the discussions in December 2018 (and possibly earlier) to March 2019 concluded favourably with the announcement of the collaboration at the end of April 2019.
But we haven't been told this explicitly, which means it could be written as such to lead us into thinking that. Or as we've alluded to before, perhaps everything is all hunky-dory but it just isn't in the interest of our BoD at this time to spell it out in black and white which, heaven forbid, may result in a rising share price... Now I wonder why that might be? Now don't be too greedy JG! ;-)
How did we increase from 3kWe to 6.4kWe whilst maintaining the same thermal output of 15kWt? That's a remarkable improvement with zero evidence to back it up. No wonder shareholders continue to sell. I'd pick them up on a promise at these prices, but as I've said before: target reached. Damn. But possibly a good thing should the company go belly up! We'll see one decade soon...
Quite ob!! But £175k ain’t going to last long. I wonder how many months before 26 April 2019 the certification process started with this Polish firm? Sounds like they have their sights on Europe not just UK.