ACTA.L Regulatory News (ACTA)

3 Jan 2008 07:00

Acta S.p.A.03 January 2008 3 January 2008 Acta S.p.A. Acta Sells First Disposable Fuel Cells Acta, the AIM-listed catalyst developer, has launched a prototype of the world'sfirst platinum-free disposable fuel cell utilising two-cell and four-cell unitsfor use in low power applications. The first order was supplied to a customer atthe end of December 2007. This launch is an important step towards Acta's commercial exploitation of thedisposable fuel cell - a product cheap enough to compete with existing batterytechnologies, yet with compelling performance and environmental advantages. The disposable fuel cell offers Acta a significant commercial opportunitybecause, unlike a one-off sale of a fuel cell system to replace a lithium ionbattery, disposable fuel cells offer the potential for repeat revenues. Actaexpects further commercial progress with its disposable fuel cell technology inthe first half of 2008. This launch confirms Acta's growing commercial success with its catalystproducts in a wide range of applications. Acta's disposable unit is expected tooffer greater energy density and duration than lead acid or alkaline batteries,and to contain no hazardous materials when fully expended. The disposal ofcurrent battery technologies presents an environmental problem and a significantcost to industrial users. Acta has been a pioneer in the development of platinum-free fuel cells using itsunique HYPERMEC branded catalysts and alkaline membrane fuel cells (AMFC). Theremoval of expensive platinum from fuel cell catalysts is essential in order tomake fuel cells price competitive with current battery technologies. Trials ofActa's single fuel cells have been underway with global portable electronics andautomotive companies. In response to customer demand, Acta has now developed twoand four cell units in a single block which will supply more power at a highervoltage than the single units currently available. Acta now has revenue earning customer relationships for its catalyst products inthe automotive, waste treatment, portable electronics and battery industries.Acta recently announced its first major development contract with a global OEMand with Sumitomo Corporation, its Asian partner. Toby Woolrych, Chief Operating Officer, commented: "Today's launch is a significant step towards the commercialisation of fuel celltechnologies containing Acta catalysts as a direct replacement for low powerbatteries. Acta continues to make good commercial progress in a range of highgrowth industries. We are commercially engaged with a number of high qualitycustomers and we are confident of continuing success across all applications forour technology in 2008." For further information, please contact: Acta S.p.A:Toby Woolrych, Chief Operating Officer Tel: +44 (0) 20 7360 4900 Smithfield Consultants:George Hudson / Katie Hunt / Will Henderson Tel: +44 (0) 20 7360 4900 Numis:David Poutney / Alex Ham Tel: +44 (0) 20 7260 1000 - Ends - Notes to Editors: Acta S.p.A. Acta develops and manufactures unique patented catalysts which have beenlaunched initially to the renewable energy, automotive and portableelectronics/battery markets. Acta's catalysts for ammonia decomposition into hydrogen offer the automotiveindustry access to a practical hydrogen carrier for the first time. Thecatalysts extract hydrogen from ammonia at room temperature, allowing ammonia,one of the most widely used chemicals in the world, to become a fuel forautomotive use, solving the problem of hydrogen storage and transportation. Acta's catalyst range for alkaline membrane fuel cells allows fuel celldevelopers to stop using expensive platinum so that fuel cells can be madecommercially viable for mass adoption, particularly in automotive and portableelectronics applications. Adoption of HYPERMEC catalysts greatly reduces thecost of fuel cells and additionally allows for the first time the use of a widerange of safe liquid bio-fuels such as ethanol and glycerol. Simple passive alkaline membrane fuel cells can act as a high performance andenvironmentally friendly alternative to lead acid and alkaline batteries at acommercially acceptable price. Acta is also developing other commercial opportunities using its catalysts forwaste treatment in the bio-fuel, polymer and other industries. Further information Sumitomo Partnership and Investment Acta has a long term marketing agreement with Sumitomo Corporation, Japan'spremier trading corporation, which confers enormous competitive advantage toActa when doing business with major Asian customers. Acta announced in July a£4.6m investment by Sumitomo Corporation together with a further £1.15m placingwith UK institutions. At the same time Acta and Sumitomo entered into a newMarketing Agreement with the initial fixed term extended to ten years andprovisions contemplating collaboration in future ventures in the Asian region. Major development contract Acta announced in November that it has been awarded a major revenue earning 16month development contract by Sumitomo Corporation and a global OEM based inAsia. This contract will be worth €0.6m in the first four months and is expectedto offer a material cash inflow to Acta over the sixteen month period. Thecontract is for the development of its catalysts for fuel cells and for hydrogengeneration from both ammonia and ethanol. Clear commercial objectives have beenidentified and routes to market agreed. Ammonia electrolyser In January 2007 Acta announced that it had developed a novel catalyst whichcould produce hydrogen from ammonia at room temperature by electrolysis. Thiselectrolyser was demonstrated in February at the world's largest fuel cellexhibition in Tokyo and has subsequently been attracting attention atexhibitions world-wide. The ammonia electrolyser is a breakthrough becauseammonia is a very widely available and practical fuel for carbon-free motoring.Use of ammonia avoids the critical problems of hydrogen storage andtransportation currently faced by fuel cell developers. The new electrolyserreleases the hydrogen for use in a fuel cell using a fraction of the electricalinput and at a much lower temperature than any other process. The Actadevelopment therefore makes possible for the first time the on-board supply ofhydrogen for automotive fuel cells from a practical fuel source. A demonstrationunit, called the "Power Profit", has been launched in November 2007 and severalorders have been received. Alkaline Membrane Fuel Cells Acta has developed a range of platinum free catalysts to be used in a type offuel cell called Alkaline Membrane Fuel Cell (AMFC). The extensive use of scarceand expensive platinum severely restricts the commercial potential for fuelcells to be used in mass market applications. Acta has been a market leader indeveloping not just the catalysts but also systems expertise with AMFC. Acta isseeing increasing evidence that many leading companies and technical institutesin the field are now also seeing the commercial potential for AMFC, as evidencedby recent demonstrations by Daihatsu of AMFC technology. Disposable AMFC Acta's unique low cost catalysts allow fuel cell technology to be used asdisposable units to replace lead acid and alkaline batteries. However, they havemuch higher energy densities which means that they need be replaced less often.There are many industrial applications where the replacement and disposal ofbatteries is a major cost, offering Acta a significant commercial opportunity.The contents of an Acta AMFC with glycerol fuel will be much lessenvironmentally hazardous to dispose of once expended. Waste treatment Acta has developed catalysts that are highly active for bio-glycerol andammonia. Whilst these chemicals are potentially fuels of the future, they arealso unwanted waste products from existing industrial processes such asbio-diesel manufacture and polymer production. Acta is seeking early commercialsuccess for its catalysts by offering them for waste treatment solutions,thereby cleaning the environment today as well as offering green energy optionsfor the future. This information is provided by RNS The company news service from the London Stock Exchange