23 Jun 2008 07:00
23 June 2008
Acta S.p.A.
Board Change
Acta, the AIM-listed catalyst developer today announced the resignation of Toby Woolrych, Chief Operating Officer. He has resigned in order to be able to work closer to his family. He will leave the Company in July following an orderly reallocation of duties within the company.
Paolo Bert, Chief Executive of Acta, said: "We thank Toby for his significant contribution to the establishment of Acta as a leading developer of green energy catalysts. He leaves the business in a strong commercial and technical position and we wish him well in the future. Acta has an experienced management team which has been significantly strengthened over the past year and as a result, the Board considers that there is currently no need to appoint a replacement."
Acta will issue a trading statement for the first half of 2008 on 17 July 2008.
For further information, please contact:
| Acta S.p.A: | |
| Paul Barritt, Chief Financial Officer | Tel: +44 (0) 20 7360 4900 |
| Smithfield Consultants: | |
| George Hudson / Katie Hunt / Will Henderson | Tel: +44 (0) 20 7360 4900 |
| Numis: | |
| David Poutney / Jag Mundi / Alex Ham | Tel: +44 (0) 20 7260 1000 |
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Acta S.p.A.
Acta develops and manufactures unique patented catalysts which have been launched initially to the renewable energy, automotive and portable electronics/battery markets.
Acta's catalyst range for alkaline membrane fuel cells allows fuel cell developers to stop using expensive platinum so that fuel cells can be made commercially viable for mass adoption, particularly in automotive and portable electronics applications. Adoption of Acta's HYPERMEC catalysts greatly reduces the cost of fuel cells and additionally allows for the first time the use of a wide range of safe liquid bio-fuels such as ethanol and glycerol.
Acta's catalysts for ammonia decomposition into hydrogen offer the automotive industry access to a practical hydrogen carrier for the first time. The catalysts extract hydrogen from ammonia at room temperature, allowing ammonia, one of the most widely used chemicals in the world, to become a fuel for automotive use, solving the problem of hydrogen storage and transportation.
Simple passive alkaline membrane fuel cells can act as a high performance and environmentally friendly alternative to lead acid and alkaline batteries at a commercially acceptable price.
Acta is also developing other commercial opportunities using its catalysts for waste treatment in the bio-fuel, polymer and other industries.