14th Oct 2013 08:19
LONDON (Alliance News) - Inspirit Energy Holdings PLC Monday said it has concluded an agreement with Cambridge-based technology and product developer, Sentec Limited, for the final stage development of its combined heat and power controls package, mCHP.
Combined heat and power (CHP) is a method to simultaneously generate power and useful heat locally on a large scale and reduce energy-transmission losses, lowering dependence on centrally generated grid electricity.
"The signing of this agreement secures the resources of Sentec, the world-class developer of Smart Energy products, to provide the appliance control and energy management system within the planned timescale of achieving trial units by mid 2014 and commercialisation by the end of that year," Inspirit Chief Operating Officer Neil Luke said in a statement.
Inspirit shares was trading at 1.80 pence Monday morning, down 0.03 pence or 1.4%.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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