2nd Jul 2014 07:16
LONDON (Alliance News) - Hydrogen energy company Acta SpA saw its shares rise Wednesday after it sold three of its Acta Power systems to its Australian distributor and commercial partner for a back-up power application for one of the country's largest mobile phone operators, and said it is set to win more sales through this channel.
The contract is a repeat order, and is expected to be fulfilled in the second half of 2014.
"Whilst relatively modest, this order represents the initial phase of a much larger deployment opportunity, which is expected to grow in volume with successive stages of implementation over the next two years," the company said in a statement.
"This repeat order follows the successful evaluation by the end customer of the Acta Power system over the past nine months. The success of the evaluation has clearly demonstrated that the ACTA system is suitable for off-grid applications as the power for the back-up system was generated entirely from solar photovoltaic cells completely independent of the mains power grid," it added.
Acta shares were up 8.6% at 4.75 pence early Wednesday, one of the biggest rises on the AIM All-Share index.
By Steve McGrath; [email protected]; @SteveMcGrath1
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
ACTA.L