Inspirit Energy Holdings plc, an AIM-listed developer of micro combined heat and power boilers and waste heat recovery systems, is pleased to announce that it 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 includes the supply of one initial unit for £150,000, with an option to purchase an additional 10 units at £150,000 each within three years from the date of the agreement. EQTEC is considering incorporating these units into its industrial decarbonisation solutions for combined heat and power (CHP) to serve industrial clients and utility companies.
EQTEC plc (AIM: EQT) is a global technology innovator focused on distributed, decarbonised energy infrastructure through waste-to-value solutions for hydrogen, biofuels, and energy generation. The WHR002 unit is expected to generate up to 130 kWh, enhancing energy efficiency, reducing carbon emissions, and decreasing the payback period for the initial investment.
The initial payment will be a non-refundable amount of £95,000, with the balance due after six months. These proceeds will fund the final testing, continued development, and delivery of the unit.
The Inspirit team is pleased with this first commercial interest, with the performance of the initial unit in a commercial, non-automotive environment being crucial. The unit is expected to be delivered between the 1st and 2nd quarter of 2025. The company will continue to explore further opportunities, particularly within the automotive sector.
David Palumbo, CEO of EQTEC, commented:
“Industrial decarbonisation technologies with real commercial applications are critical for reducing emissions globally. We see significant potential in integrating Inspirit’s heat recovery technologies into projects within our client base.”
John Gunn, Chairman of Inspirit Energy Holdings plc, added:
“We are delighted with this endorsement of our technology. It demonstrates 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 on further developments in due course.”
