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Strategic Divestment of Shareholding

15th Feb 2011 07:00

RNS Number : 2274B
Acta S.p.A.
15 February 2011
 



Press Release

15 February 2011

 

Acta S.p.A.

("Acta" or "the Company")

 

Strategic Divestment of Shareholding by Sumitomo Corporation ("Sumitomo")

 

 

Acta S.p.A. (AIM:ACTA), the clean energy products company, has been informed that Sumitomo has divested its entire holding in the Company via an institutional placing. Sumitomo entered into a strategic relationship with Acta on 12 July 2007. However, on 2 March 2010 the exclusive distribution agreement was terminated by mutual consent and following internal discussions, Sumitomo entered into talks with the Company to sell their stake in an orderly manner. The shareholding was placed with UK institutional investors by Altium Capital, acting in their capacity as NOMAD and broker to the Company.

 

- ENDS-

 

 

For further information please contact:

 

Acta S.p.A

Paul Barritt, Chief Financial Officer

 

 

Tel: +39 050 644281

www.actagroup.it

www.actaenergy.it

 

Altium

Adrian Reed / Phil Frame

 

Tel: +44 845 505 4343

 

 

Media enquiries:

 

Abchurch Communications Limited

Mark Dixon / Ashleigh Lezard / Julian Bosdet / Claire Dickinson

[email protected]

 

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. The Company is also extensively involved in the Italian solar photovoltaic market through its photovoltaic business, ActaSol, and is committed to integrating its award-winning electrolysers with renewable energy sources. The Company is currently in the process of delivering a significant photovoltaic installation contract to SPF Energy through its joint venture company, SolGen, and is developing a substantial pipeline of project consents.

 

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 has exploited these technologies to develop onboard automotive hydrogen generation systems for diesel enrichment, reducing diesel consumption and pollution emissions.

 

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, 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 electrolyser 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. is based near Pisa, Italy, and was admitted to trading on AIM in October 2005.

 

www.actagroup.it www.actaenergy.it

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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