24th Nov 2014 07:00
24 November 2014
Acta S.p.A. ("Acta" or "the Company")
Resignation of C.E.O.
ACTA S.P.A. (AIM; ACTA), the hydrogen energy company, announces that Paolo Bert, Chief Executive Officer of the Company has resigned with immediate effect. The Company has identified a successor and a further announcement will be made in due course. In the interim period until the appointment of a new chief executive officer the Acta board will collectively assume responsibility for all appropriate operational decision-making.
Mr Bert has managed the Company since its inception in 2004 and has built it into a ground-breaking supplier of unique products in the hydrogen production and renewable energy sectors. As shareholder he remains supportive of the Company as it grows into a major player in these exciting markets.
The Board would like to thank him for his considerable achievements in developing the Company to where it is today and wish him success in his retirement.
For further information please contact:
Acta S.p.A. | Tel: +39 050 644281 |
Robert Drummond, Chairman Paul Barritt, Chief Financial Officer |
www.actaspa.com |
Altium Capital (Nominated Advisor) | Tel: +44 (0)845 505 4343 |
Adrian Reed / Dom Orsini |
|
Cantor Fitzgerald Europe (Broker) |
Tel: +44 (0)20 7894 7000 |
Mark Percy / David Banks / Paul Jewell |
|
Media enquiries:
Walbrook PR | Tel: +44 (0)20 7933 8780 |
Paul Cornelius / Nick Rome |
About Acta S.p.A.
Acta S.p.A. is a developer and manufacturer of a range of clean energy products. Based on its world-leading expertise in alkaline membrane technology, the Company has developed a unique range of low-cost, compact hydrogen generators (electrolysers) which produce pure, dry compressed hydrogen at high efficiency from renewable or grid power.
In April 2013 Acta launched the Acta Power, an integrated electrolyser and fuel cell system for use in back-up power and renewable energy storage applications. Best understood as a "Hydrogen Battery", the system converts energy from renewable or grid power when it is available and stores it in the form of hydrogen, and then converts the hydrogen back to electrical power when needed due to grid black-out or lack of solar / wind power.
This system has extensive application as a back-up power unit for telecommunications base stations, where it competes on cost against traditional battery and diesel solutions, while offering a cleaner solution and better service. In particular, the use of rainwater and the generation of hydrogen on-site removes the cost and logistical barriers of fuel delivery, while also avoiding the theft risk associated with diesel, methanol and battery systems.
The supply of fuel cell back-up power systems for telecommunications base stations represents a large and fast-growing market, especially in extensively bad-grid and off-grid locations such as in Asia and Africa. Battery sales to the Chinese telecoms industry are currently valued at $4.7 bn to $7.8 bn per annum (Fuel Cell Today, China).
Acta holds a portfolio of patents and patent applications on its key technologies, manufactures its products through a combination of production, component subcontracting, and final product assembly and quality control, and has established distribution channels through partnerships in China, India, SE Asia, Australia, Africa, Middle East, Germany, UK, USA and South America.
Acta S.p.A. is based near Pisa, Italy, and was admitted to trading on AIM in October 2005.
www.actaspa.com
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