28 May 2024
Inspirit Energy Holdings plc
("Inspirit Energy",
"Inspirit" or the "Company")
CONTRACT FOR THE SUPPLY OF
GOODS
Inspirit Energy Holdings plc, the
AIM listed developer of micro combined heat and power boilers and
waste heat recovery, is pleased announce that is has secured an
order to develop and sell an Inspirit Waste Heat Recovery ("WHR")
engine ("WHR002") to EQTEC plc, a technology innovator and licensor
of waste-to-value solutions.
The contract is to supply one
initial unit for £150,000 and an option for a further 10 units at
£150,000 each from three years of the date of the agreement. EQTEC
is evaluating offering these units as part of its industrial
decarbonising solutions for combined heat and power (CHP) to
industrial clients and utility companies.
EQTEC plc (AIM: EQT), is a
global technology innovator powering distributed, decarbonised, new
energy infrastructure through its waste-to-value solutions for
hydrogen, biofuels, and energy generation. The WHR002 unit is
expected to generate up to 130 kWH and would lead to energy
efficiency, reduction in carbon output as well as reduction in
payback time for the initial appliance investment.
The initial payment will be a
non-refundable amount of £95,000 and the balance after 6 months,
and these proceeds will go towards the final testing, continuing
development and delivery of the unit.
The team at Inspirit are pleased to
have received this first commercial interest, and a lot will depend
on the performance of the first delivered unit when operating in a
commercial, but non-automotive environment. The unit is expected to
be delivered to the purchaser by between 1st and 2nd
quarter in 2025. The Company will continue to explore further
opportunities, particularly within the automotive
sector.
David Palumbo CEO of EQTEC
commented:
"Industrial decarbonisation
technologies, which already have real commercial applications, are
critical to achieve the reduction on emissions the world so
urgently needs. We see a lot of potential synergies integrating
Inspirit's heat recovery technologies in projects that are brought
to us inside our client base."
John Gunn- Chairman of Inspirit
Energy Holdings Plc commented:
"We are delighted with this
endorsement of our technology, and it goes to demonstrate that the
Inspirit WHR appliance is suitable for marine, automotive, and
light industrial engines, where it can be retrofitted. We look
forward to updating you with further developments in due
course."
There are no further
updates.
THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION (EU No.
596/2014) AS IT FORMS PART OF UK DOMESTIC
LAW BY VIRTUE OF THE EUROPEAN UNION (WITHDRAWAL) ACT
2018.
More
information on Inspirit Energy can be seen at:
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
|
About EQTEC
As one of the world's most
experienced thermochemical conversion technology and engineering
companies, EQTEC delivers waste management and new energy solutions
through best-in-class innovation and infrastructure engineering and
value-added services to owner-operators. EQTEC is one of only a few
technology providers directly addressing the challenge of replacing
fossil fuels for reliable, baseload energy. EQTEC's proven,
proprietary and patented technology is at the centre of clean
energy projects, sourcing local waste, championing local
businesses, creating local jobs and supporting the transition to
localised, decentralised and resilient energy systems.
EQTEC designs, specifies and
delivers clean, syngas production solutions in the USA, EU
and UK, with highly efficient equipment that is modular and
scalable from 1MW to 30MW. EQTEC's versatile solutions process 60
varieties of feedstock, including forestry waste, agricultural
waste, industrial waste and municipal waste, all with no
hazardous or toxic emissions. EQTEC's solutions produce a pure,
high-quality synthesis gas ("syngas") that can be used for the
widest range of applications, including the generation of
electricity and heat, production of renewable natural gas (through
methanation) or biofuels (through Fischer-Tropsch, gas-to-liquid
processing) and reforming of hydrogen.
EQTEC's technology integration
capabilities enable the Group to lead collaborative ecosystems of
qualified partners and to build sustainable waste reduction and
green energy infrastructure around the world.
The Company is quoted on
the London Stock Exchange's Alternative Investment Market
(AIM) (ticker: EQT) and the London Stock Exchange has
awarded EQTEC the Green Economy Mark, which recognises listed
companies with 50% or more of revenues from environmental/green
solutions.
Further information on the Company
can be found at www.eqtec.com
Nominated Adviser
Beaumont Cornish Limited ("Beaumont
Cornish") is the Company's Nominated Adviser and is authorised and
regulated by the FCA. Beaumont Cornish's responsibilities as the
Company's Nominated Adviser, including a responsibility to advise
and guide the Company on its responsibilities under the AIM Rules
for Companies and AIM Rules for Nominated Advisers, are owed solely
to the London Stock Exchange. Beaumont Cornish is not acting for
and will not be responsible to any other persons for providing
protections afforded to customers of Beaumont Cornish nor for
advising them in relation to the proposed arrangements described in
this announcement or any matter referred to in it.