LONDON (ShareCast) - (ShareCast News) - Inspirit Energy has raised £750,000 in a discounted placing to finalise the accreditation process for its Inspirit Charger micro combined heat and power boiler, and begin field trials with Enertek International.
Proceeds from the placing of 150m shares priced at 0.5p each would also go to working capital for Inspirit's continuing development. Its shares were trading down almost 16% this afternoon. Every two placing shares would be accompanied by a valid-for-12-months warrant over ordinary shares that was excercisable at 0.5p.

Looking ahead, the company said it planned to launch an online facility for advance reservations of the Inspirit Charger 2.0 and Inspirit Charger 3.0, disseminate field trial performance data and accredit the Inspirit Charger 2.0 under the Microgeneration Certification Scheme.

"Prior to commercial launch and the delivery of pre-ordered units the company will confirm customer finance options and launch its e-commerce website," the company said in a statement.

Since its last placing on 17 July, 2015, Inspirit has completed the development of the Inspirit Charger, on which a European trademark has been awarded.

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