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Paving the way for CHP development

KleenAir Systems has announced improved financial results for the six months to the end of December.

The alternative energy firm reported pre-tax losses of £57,000 - down from £266,000 in 2009.

In August, Kleenair made its first acquisition as an investment company, taking a minority stake in Inspirit Energy, which is in the final stages of development of a micro combined heat and power appliance.

KleenAir increased its investment in the Sheffield-based firm to 17.05 per cent in January, allowing Inspirit to acquire Somemore Limited, which holds the intellectual property relating to Inspirit’s appliance.

Chairman Sarah Pozner, said: “It has been another eventful period for the company.

“We have finally resolved completely some historic corporate issues and have strengthened our equity position in a very exciting new heat and power technology which is targeting the lucrative SME marketplace.

“The company continues to identify and evaluate other potential investments in line with the investing policy and plans to invest into a second company in due course.”