Acta S.p.A. Trading Update (8983X)
25 11월 2014 - 4:02PM
UK Regulatory
TIDMACTA
RNS Number : 8983X
Acta S.p.A.
25 November 2014
25 November 2014
Acta S.p.A. ("Acta" or "the Company")
Trading Update
Following the departure of the former Chief Executive, Paolo
Bert on 22 November 2014, the Board of Acta S.p.A. (AIM; ACTA), the
hydrogen energy company, has commissioned an operational review of
the market opportunities and business performance for the 2014
financial year.
The Board has concluded after reviewing the initial findings of
that review that the cash and revenue performance in FY2014 will
fall significantly below the Board's previous expectations.
The Board remains confident that the market opportunity for
Acta's electrolysers and Acta Power systems remains encouraging but
the Company has seen a significant delay in orders due to evolving
customer technical requirements. Following a series of successful
trials completed during the H1 2014, discussions with prospective
customers are continuing.
The Board has commenced a number of measures to reduce costs and
conserve cash until the anticipated orders arrive. The Company
remains very confident in its core technology and sees a number of
encouraging opportunities in the telecoms and automotive
sectors.
The Board continues to work on the prompt appointment of a new
chief executive officer and settlement of the outstanding legal
dispute and hopes to provide a further update shortly.
For further information please contact:
Acta S.p.A. Tel: +39 050 644281
Robert Drummond, Chairman www.actaspa.com
Paul Barritt, Chief Financial Officer
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 acta@walbrookpr.com
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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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