Presentation on theme: "Summary of Investment Proposition Inspirit Energy is seeking to raise £3 million of investment as working capital to complete the final phase of commercialisation."— Presentation transcript:
Summary of Investment Proposition Inspirit Energy is seeking to raise £3 million of investment as working capital to complete the final phase of commercialisation of the appliance and commence production. The key uses of funds will be: Heater head and combustion chamber performance optimisation Endurance testing of engine components Background Inspirit Energy Limited (Inspirit), a UK based limited company, has developed a micro combined heat and power (mCHP) appliance, driving a generator that produces up to 3kW of mains voltage electricity and it is capable of exporting this electricity back to the utility grid via the UKs G83 connection protocol. Key features Inspirits appliance is capable of simultaneous generation of 15kW thermal and 3kW electrical output. Users are eligible for the Feed in Tariff (FiT) scheme – energy users receive payment for the renewable energy they generate. The technology has undergone an extensive and rigorous development process and successfully completed field trials, including trials with the Carbon Trust. This is at the forefront of technology with the capability of generating significant revenues through sales of the appliance in the UK, Europe and worldwide Key Benefits If the level of CHP was increased to the Government's target of 10,000 MW, the UK could be one third of the way to meeting its international commitments to reduce carbon dioxide emissions. mCHP could provide 20% of the UK's electricity generating capacity, more than is currently obtained from nuclear power. mCHP produces much less carbon dioxide than other ways of providing power. Short payback period, reduction in energy bills, generates high power. The appliance is dimensionally similar to existing gas boilers and so can be a replacement as well as new fit option and can be installed through existing competent heating engineers. The maintenance requirements are the same annual frequency as a conventional gas boiler.
In recent years, the small commercial boiler sector has seen a move towards the introduction of smaller, modular units and has moved away from large output boilers due to their inherent start up and shut down losses., with multiple, cascaded installations now common place. The Inspirit appliance is focused on small commercial users with high heat and power requirements, for example fast food outlets, nursing homes, gyms and hairdressing salons, and is uniquely positioned in the market as the only Stirling engine powered appliance for small commercial usage. Key features and benefits (cont.) Technology Highlights TypeStirling Engine Electrical output (kW)3kW Thermal output (kW)15kW Overall efficiency (%)92% Dimensions650x1250x650mm Heat: Power ratio5:1 Weight (kg)200kg FixingFloor standing Installation optionsStand alone unit or cascade of multiple units Replacement installation or new fit Installation requirements1 trained heating engineer Market Legislation, both in the UK and globally, has increased the need to develop both more efficient and greener methods of energy generation. Inspirit Energy is perfectly placed to take advantage of these changes and has a substantial opportunity, particularly in the UK, where there are few competing technologies and regulatory requirements to cut carbon output and financial incentives are available. Centrica plc, a major UK utility company, estimates the microgeneration market to be worth £4bn per annum in 2015 and £10bn per annum by 2020, across a range of technologies including mCHP. A recent UK government report highlighted mCHP as the only technological advance with the potential to allow users to break even in respect of its costs of purchase and installation within the foreseeable future.
Development Over the past four years, the mCHP appliance has undergone an extensive development. The appliance consists of 3 key systems, each of which has been designed with the help of one of our engineering partners. Adigo has been instrumental in taking the original Stirling Engine design (Inspirits proven prototype) and redeveloping it for the new appliance. This work has now moved in house, with all aspects of work relating to the power generation being carried out at Inspirits premises in Sheffield, with additional support provided when required from Adigo. Prodrive have been key partners in developing the Crankcase and Rhombic Drive Assembly (shown) that converts the heat energy into the motion required to generate the electrical output. ) and is the driving force of Inspirits mCHP appliance Sentec have designed the control system including the user interface, diagnostics and management of the supply to the Grid Tied Inverter. Enertek has designed the gas combustion system, heat recovery system and the appliance design. In addition, Enertek, through their close relationships with certification bodies, have been helpful in acquiring relevant certification for the trial appliance. Inspirit is also working with these engineering partners to cement the supply chain and in addition has engaged a specialist partner to develop the bill of materials. Field Trials Five Inspirit mCHP appliances received GAD approval and took part in a series of field trials. The purpose of the initial trials was to prove the concept of the prototype appliance and identify any weaknesses in the design. Three of the appliances were trialled for up to 18 months. The Carbon Trust recently conducted a large scale trial into mCHP. Ten different mCHP technologies for domestic and SME usage entered the trials, with a total of 87 units on test. This trial was independent, with data monitored, audited and evaluated externally. More than 20 parameters were measured at 5 minute intervals, 24 hours a day, over a period of more than a year. Two of Inspirits appliances were entered into the Carbon Trust trial, and were tested for 13 and 16 month durations respectively. The final report into the trial has now been published and is available from the Carbon Trust. As expected, both of these trials have shown that the engine performed to specification, producing up to 3kW electrical power and 15kW thermal power. The Rhombic Drive (design and machined component) Commercialisation Inspirits model is to partner with an established manufacturer or distributor that can create volume by adding Inspirits mCHP appliance to their product portfolio. Inspirit has held commercial discussions with several parties interested in partnering, licensing or purchasing on a large scale, including Centrica, EON, npower, Norweb, RWE, EDF, Ruhrgas and Gaz de France as well as major boiler manufacturers. Centrica have indicated they are very interested in Inspirits technology and are currently discussing how their business division could partner with us. http://www.carbontrust.com/m edia/77260/ctc788_micro- chp_accelerator.pdf