13th Jan 2011 07:00
KLEENAIR SYSTEMS INTERNATIONAL PLC
(AIM: KSI)
Inspirit acquires mCHP technology IP
KleenAir Systems International Plc ("KleenAir" or "the Company") announces that it has been informed by Inspirit Energy Limited ("Inspirit") that Inspirit has acquired Somemore Limited through the issue of new Inspirit shares. As a result of the acquisition, Inspirit now wholly owns the intellectual property rights for the micro combined heat and power (mCHP) technology used in its combined heat and power appliance.
As announced last week, Inspirit has begun to experience commercial success and has reached the early stages of taking orders for units. Inspirit continues to expect manufacturing to start in Q3 2011 and is currently finalising agreements with manufacturing and service partners.
Following the issue of new Inspirit shares, KleenAir's revised holding in Inspirit is approximately 17.05 per cent.
Contacts: | |
KleenAir Systems International plc | www.KleenAir-systems.com |
Sarah Pozner, Executive Director | +44 (0) 207 048 9400 |
Square1 Consulting | |
David Bick / Mark Longson | +44 (0) 207 929 5599 |
WH Ireland Limited | www.wh-ireland.co.uk |
JN Wakefield / Marc Davies | +44 (0) 117 945 3470 |
Global Investment Strategy UK Limited | |
John Gunn | +44 (0) 20 7048 9400 |
About KleenAir:
KleenAir is an investing company which aims to invest in disruptive products or technologies that are either proven or at the latter stages of development, which own or have exclusive license to the relevant intellectual property (IP) and may benefit from feed in tariffs or other renewable energy incentives.
KleenAir's investment focus is on the UK, with potential for investment further afield.
About Inspirit:
Inspirit is a UK based company, and as well as benefiting from an experienced in house engineering team, the Company has partnerships with specialist engineering, design and production companies, both in the UK and Norway.
Based upon a kinematic Stirling engine design, Inspirit's current appliance is capable of simultaneous generation of 15kW thermal and 3kW electrical output. The appliance will make a significant impact in the area of microgeneration through the reduction of carbon emissions and improvement in overall efficiencies in local and national generation and distribution of power. The appliance is powered by gas and is designed to produce hot water, central heating and electrical output simultaneously. Commercial use of the appliance will assist businesses with reducing their carbon footprint and increasing their energy efficiency, as well as having a positive financial impact via government incentives and reliefs.
Related Shares:
Inspirit Energy