REG - Inspirit Energy Hlds - Waste Heat Recovery System Update

Inspirit Energy HoldingsAnnouncement

14/09/2022 07:01

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220914:nRSN3317Za&default-theme=true

RNS Number : 3317Z  Inspirit Energy Holdings PLC  14 September 2022

 14 September 2022

 

Inspirit Energy Holdings Plc

("Inspirit" or "the Company")

Waste Heat Recovery System Update

 

Inspirit (LON: INSP), the technology and engineering solutions company, is
pleased to provide a further update, following the announcement on 27 June
2022, regarding the Company's Waste Heat Recovery ("WHR") system and the
marine application that the Company has been progressing with Volvo Marine.

The Company's phase one trial in Poland managed by Inspirit's engineering
team, using a non-branded automotive engine, regularly produced a power output
of over 34kW during several weeks of testing. This trial was conducted using
an automotive engine with the same horsepower as the Volvo Penta D13 Engine
running at 2400 revolutions per minute.

Further testing has recently been conducted in Poland, having concluded phase
one of the WHR system development, and a series of short phase two tests of
the WHR system have been conducted.  These introduced the use of the
Company's technology, the Helix Accelerator.  Use of the Helix Accelerator
resulted in a near doubling in the power output achieved to 64kW, using the
same automotive engine as the phase one trial.

Further testing and development in Poland is planned before the end of 2022,
with the goal of adding additional enhancements to the WHR system as part of
the Company's proposed phase three trial programme, where further improvements
in the power output are anticipated.  Duration and stress testing will also
be undertaken at this time, but to date the performance of the WHR system and
its robustness have exceeded the Company's internal expectations.

Thereafter, Inspirit will seek to enter into a trial phase with Volvo Marine.
The board are also actively pursuing commercial discussions with other parties
that are active in the commercial automotive sector.

The board of Inspirit are very pleased with the team's achievements and the
progress that has been made to date, particularly with the introduction of the
Company's Helix Accelerator.  The board remains confident that further
significant improvements can be achieved, but further analysis of the data
from the phase two trails is required before the upper power limits for the
unit can be confidently predicted.

Additionally, the board are investigating the potential for the unit to be
incorporated as a retrofit for the commercial engine market and in particular
certain applications in the haulage market.  This includes widening the
Company's tradition sphere of operation in Europe and also in Asia and North
America.

More information on Inspirit Energy can be seen at: www.inspirit-energy.com
(http://www.inspirit-energy.com/)

For further information please contact:

 Inspirit Energy Holdings plc
 John Gunn, Chairman and CEO        +44 (0) 207 048 9400

 Beaumont Cornish Limited

 www.beaumontcornish.com

 (Nominated Advisor)
 Roland Cornish / James Biddle      +44 (0) 207 628 3396

 Global Investment Strategy UK Ltd

 (Broker)

 Samantha Esqulant                  +44 (0) 207 048 9045

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDFLFSEARIVLIF