Shares in heat recovery specialist Inspirit Energy Holdings PLC (LSE:INSP) warmed up 33% on Thursday as it said it was in talks to partner with a “major automotive group” during an operational update, with investors shrugging off “minor” delays due to supply chain issues.
Inspirit also announced its stage three building and testing of its waste heat recovery charger, which it intends to add to cars, would be completed by 2023, which it says can enhance the performance of motor vehicles by up to 30% as well as slashing emissions.
"The board of Inspirit has no doubt that the technology the company has developed could have a significant impact on applications within the automotive industry,” chairman John Gunn said.
Shares rose 33.3% in early trading, before slipping slightly to 0.037p, up 12% on Thursday’s opening.