Inspirit Energy shares soar 36.07% to 0.0415p on waste heat recovery system update
Inspirit Energy said phase two testing of its waste heat recovery system in Poland resulted in a near doubling of power output.
Inspirit said the use of its proprietary Helix Accelerator technology resulted in a 64kW power output, nearly double phase one's 34kW, using the same automotive engine. The company said more testing and development in Poland was planned before the end of the year, with the goal of improving the waste heat recovery system even further as part of a proposed phase three trial.
Inspirit's waste heat recovery system will be used in the Volvo Marine engine and other similar systems that recycle excess heat from internal combustion engines into electricity, increasing efficiency.
"The board of Inspirit are very pleased with the team's achievements and the progress that has been made to date, particularly with the introduction of the Company's Helix Accelerator. The board remains confident that further significant improvements can be achieved, but further analysis of the data from the phase two trails is required before the upper power limits for the unit can be confidently predicted." the company said.
Trackwise Designs shares sink 47.37% to 10p on renegotiation of EV OEM agreement
Trackwise Designs said it was in advanced discussions with its UK EV OEM customer to replace the original product manufacture and supply agreement with a new contractual arrangement.
The EV OEM said on 11 August 2022 that it expected lower production volumes in 2022 compared to previous estimates. This announcement had a knock-on impact on the availability of Trackwise's planned asset-backed debt funding for the remaining pieces of capital expenditure at its new Stonehouse facility, in addition to increasing its short-term cash requirements, the company explained.
As a result, Trackwise has entered into discussions with the EV OEM on a new contractual agreement whereby the latter will provide an advance payment against future product deliveries, backed by security.
In addition, Trackwise said it was reviewing a number of options for additional funding.
ImmuPharma shares drop 28.47% to 4.74p on FDA's Lupuzor Treatment response
ImmuPharma PLC said its US partner for Lupuzor (P140), Avion Pharmaceuticals, has received a written response from the US Food and Drug Administration (FDA) to its Type C meeting with the regulator.
"The FDA response was detailed and included significant guidance on next steps for the clinical programme. This included advice on the dosing regime. In addition, the FDA also provided further significant guidance on the study protocol that can be amended to improve the regulatory outcome." ImmuPharma elaborated.
The company said it was currently reviewing the written response with Avion and would make a further notification "in due course".
Sutton Harbour shares rise 20% to 24p on strong summer trading
Sutton Harbour said summer trading had been strong, with annual berthing at its marinas fully sold, and its car parks back to pre-Covid patronage.
Sutton Harbour also said it was prepared for a "sharp increase in energy costs" as its current power contract expires on 30 September.
The company said it would attempt to settle a new contract as soon as possible, as uncertainty and volatility in energy markets have prevented its suppliers from providing a firm renewal price. A significant proportion of Sutton Harbour's energy cost is recharged to its tenants and harbour users, the company said.