Inspirit Energy Holdings chairman David Lenigas has bought 1.5m shares at an average price of 1.5p a share following the announcement of a controls deal for the company’s microCHP boiler.
In May, Lenigas bought 500,000 shares at 1.3p each. He owns five million shares, which is equivalent to 0.87% of the company.
Inspirit has secured an agreement with Sentec which means that the Cambridge company will supply electronic boiler control and energy management system for the Inspirit microCHP boilers. Last October, Sentec and Inspirit signed an agreement for Sentec to develop these controls. This latest deal means that pre-production trial units can be built and installed with customers in the third quarter of this year. The results of these trials will help Inspirit to set a time to go into full production.
Waste heat from the boiler is converted to electricity and the surplus can be fed into the National Grid. The microCHP boiler can generate up to 15kw of thermal output and up to 3kw of electricity.
In May, Inspirit raised £60,000 through the exercise of six million warrants at 1p each.
At 1.5p a share, Inspirit is valued at £8.67m.
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