15th Dec 2011 07:00
Press Release | 15 December 2011 |
Acta S.p.A.
("Acta" or "the Company")
Confirmation of Grant Receipts
Acta S.p.A. (AIM: ACTA), the clean energy products company, is pleased to announce that it has received confirmation that the grant receipts due under the first stage payment of the LIFE+2010 project will now amount to €450,000, rather than €330,000 as previously indicated, and that these funds have been received by the project leader and are due to be released to the Company within the next few days.
The receipt of this grant payment will be in addition to the €373,000 received earlier in December 2011 in relation to the NanoCatGeo grant funded project, bringing the total grant funding expected to be received during December 2011 to €823,000.
Acta is still due to receive a further €860,000 in outstanding grant monies relating to various grant-funded projects completed by the Company and its subsidiaries and expects that these funds will be received during the first three to six months of 2012.
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For further information please contact:
Acta S.p.A Paul Barritt, Chief Financial Officer
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Tel: +39 050 644281 www.actagroup.it www.actaenergy.it
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Altium Capital (Nominated Advisor) Adrian Reed / Phil Frame |
Tel: +44 845 505 4343
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Seymour Pierce Limited (Broker) Freddy Crossley/David Banks | Tel: +44 (0)20 7107 8000
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Media enquiries:
Abchurch Communications Limited Mark Dixon / Ashleigh Lezard / Jamie Hooper
| Tel: +44 20 7398 7729 www.abchurch-group.com |
About Acta S.p.A.
Acta S.p.A. is a developer and manufacturer of a range of clean energy products. Its product line includes market-leading compact hydrogen generators (electrolysers) which produce pure, dry and compressed hydrogen in a way that is easy-to-use and completely safe, and the Company is committed to integrating its award-winning electrolysers with renewable energy sources.
Acta's cost-competitive electrolysers are based on its proprietary, inexpensive environmental catalyst and hydrogen conversion technologies. These products help overcome the barriers to the adoption of fuel cells, most notably the lack of a local hydrogen infrastructure.
Acta's low-cost hydrogen generators represent a unique breakthrough in electrolyser technology. They can operate using mains power or intermittent renewable energy, and produce clean, dry hydrogen already at pressure for use in fuel cell and other applications. This unique combination of features avoids the system complexity and energy cost of further cleaning, drying and compression of the hydrogen, resulting in a simple, compact, low-cost and highly efficient system that is ideally suited for energy conversion and storage applications. In such applications, which include battery replacement and renewable energy storage, low cost and high efficiency are critical to commercial viability, while hydrogen compression is essential for the energy density of the system. No other water electrolyser currently on the market offers this combination of benefits.
Acta is focusing on delivering its products to markets with high volume demand for high-value environmental solutions (transport, back-up power, energy and leisure). It is accelerating the commercialisation of its products via partnerships with original equipment manufacturers (OEMs), distributors, and agents in these sectors, and intends to drive down production costs at high volume via contract manufacturing.
Acta S.p.A. is based near Pisa, Italy, and was admitted to trading on AIM in October 2005.
www.actagroup.it www.actaenergy.it
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