Photovoltaics Programme

Acta S.p.A.

("Acta" or "the Company")

Photovoltaics Programme€8.8 million contract with SPF Energy; joint venture with Fedi Impianti

Acta, the provider of clean energy products and environmental catalysts, is delighted to announce that the Company has signed a Preliminary Contract with SPF Energy S.p.A. ("SPF") for the installation of large-scale photovoltaic parks in Italy. SPF is a specialist renewable energy investment fund created and managed by Sopaf S.p.A., an independent Italian investment bank listed on the Milan Stock Exchange. The installations will be carried out through a joint venture partnership with Fedi Impianti S.r.l. ("Fedi Impianti"), one of Italy's largest and most highly reputed specialist PV installation companies.

The Preliminary Contract agrees to the development, installation and sale to SPF of large scale photovoltaic parks within Italy during 2010. The total contract value is estimated to be in the region of €50 million, subject to the joint venture being able to secure and deliver the installed capacity requested by SPF. The first phase of this contract, incorporating three installation projects, has been approved subject to final contracts with an aggregate value of €8.8 million, and installation is expected to commence within the next two months.

Additional projects will be added under the terms of the Preliminary Contract as they complete their authorisation procedures and due diligence requirements over the coming months. The project duration of each installation is approximately four months from the commencement of building work.

In order to deliver these projects, Acta has formed a 50%-50% joint venture company with Fedi Impianti, which will operate under the name of "SolGen". Acta will contribute commercial management, technical consultancy and short term working capital, together with financial and administrative control of the new operations, while Fedi Impianti will be responsible for managing the installation projects and the operational aspects of the joint venture's activities. 50% of the revenues, costs and profits generated by the joint venture will be recognised simultaneously by Acta.

Paolo Bert, Chief Executive, commented: "During 2009 we have pursued partnerships and opportunities within the Italian photovoltaic installation sector, and we are delighted that these efforts have now culminated in our joint venture with Fedi Impianti and a major photovoltaic installation contract with SPF.

"This area of our business is strategic to us for two key reasons. Firstly, it is highly complementary with our hydrogen generator technology which, for a low-cost electrolyser with no noble metals, is unique in being able to produce compressed hydrogen from intermittent renewable power sources such as photovoltaics. By incorporating the ability to offer photovoltaic panel installations, we can therefore complete the renewable energy value chain from power generation, through energy conversion and storage (in the form of hydrogen), to stationary, mobile or portable fuel cell products and applications.

"The second strategic benefit of the joint venture is that by entering the fast-growing Italian PV installation market we will start generating significant revenues within the short term. We have sought to minimise operational risks on these projects through our choice of partners with specialist technical, legal and project support experience. The cash exposure on the programme will remain well within our financing capabilities.

"2010 will be a year of great activity in the Italian PV market, where high feed-in tariff rates have combined with low component costs and a high availability of prime sites to create an ideal investment environment. We will continue to grow this activity in 2011 and beyond, and we believe that our rapidly growing product revenues, together with the funds generated from the PV installation programme, will be sufficient to carry the Company through to profitability in the short to medium term without the need for further external funding."

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Notes to Editors

Acta S.p.A. is a developer and manufacturer of a broad range of renewable energy and related products. Its product line includes a range of compact hydrogen generators as well as various portable, mobile and backup fuel cell devices that can make use of locally generated hydrogen in UPS, marine, automotive, electric cycling, scooter, camping and domestic applications. The Company's broader interests include a range of environmental catalysts and solar power projects.

Acta's cost-competitive products 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 industrial and consumer 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, UPS, 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 is marketing its product range to early adopters through its energy products division, Acta Energy. This division's objective is to ensure, through facilitating the widespread adoption of commercial and domestic fuel cell products, that Acta's hydrogen generator becomes a familiar industrial and domestic appliance.

Acta S.p.A. was admitted to trading on AIM in October 2005. It is based near Pisa, Italy, from where it manages a growing overseas distributor network targeting a global fuel cell market estimated to be worth US$26 billion by 2020.

About SPF Energy S.p.A.

SPF Energy S.p.A. is a specialist renewable energy investment fund formed by Sopaf S.p.A., an independent Italian investment company, to create an investment portfolio in the Italian photovoltaic sector. Sopaf has developed its business model based on Anglo-Saxon investment companies, and invests capital of its own and of third parties with the aim of generating returns above market average. Sopaf currently has funds of over €300 million under management, and is listed on the Borsa Italiana (Italian Stock Exchange).

About Fedi Impiant S.r.l.

Fedi Impianti S.r.l. is one of Italy's leading design and installation companies for electrical and technological systems, which over the last five years has specialized in the construction of renewable energy production systems. With 70 staff and activities in Germany and Spain, Fedi is one of Italy's most active and respected PV installation specialists, is one of the largest distributors of PV panels for ENEL.si, and has been responsible for over 50 MW in PV installations to date. The business was founded in 1950 and is has obtained certification under ISO 9001/2000.