REG - Inspirit Energy Hlds - CONTRACT FOR THE SUPPLY OF GOODS

Inspirit Energy HoldingsAnnouncement

28/05/2024 07:00

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RNS Number : 9392P  Inspirit Energy Holdings PLC  28 May 2024

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 2(nd) 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
(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

 

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
(http://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.

 

 

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