Acta S.p.A. MVS Distribution Agreement (9551A)
March 27 2013 - 3:01AM
UK Regulatory
TIDMACTA
RNS Number : 9551A
Acta S.p.A.
27 March 2013
Press Release 27 March 2013
Acta S.p.A.
("Acta" or "the Company")
Acta and MVS Energy Solutions sign Distribution Agreement
for India's telecom back-up power market
Acta S.p.A. (AIM: ACTA), the clean energy products company, has
signed a Distribution Agreement with MVS Energy Solutions, the
recently established new business division of MVS Engineering Ltd
("MVS"), India's largest supplier of industrial gas equipment and
solutions, for the distribution of Acta's electrolysers, in
India.
This follows on from the announcement Acta made on 19 December
2012, that it had signed a Letter of Intent with MVS Engineering to
distribute Acta's electrolysers in India.
MVS specialises in on-site gas solutions for Nitrogen, Oxygen
and Hydrogen. They have supplied gas generation equipment to over
56 countries worldwide and have supplied air and gas equipment to
more than 60% of the top 1,000 companies in India.
MVS Energy Solutions was formed to address the growing need in
the Indian market for back-up power solutions, especially in the
telecom market where there are 65,000 base stations being installed
annually (19% of which are with renewables or hybrid). The
objective of the partnership is to allow the introduction of
on-grid and off-grid integrated fuel cell back-up power solution
based on on-site hydrogen generation.
MVS predicts 2013 will see sales of Acta's electrolysers in
excess of 100 units and the forecast for 2014 is that the interest
and adoption of this technology will increase substantially from
this level.
MVS will integrate Acta's largest electrolyser, the EL1000, with
a fuel cell to produce a back-up power solution for the
telecommunication market. This system will be demonstrated on the
premises of MVS's headquarters in New Delhi and potential clients,
government officials and member of the telecommunication industry
will be invited to come and see the system in full operation.
Paolo Bert, Chief Executive of Acta commented: "Acta is
committed in its mission to introduce cost-effective on-site
hydrogen solutions for back-up power, renewable energy and other
fuel cell applications. We are pleased to be working with MVS
Energy Solutions and to be able to benefit from their technical
credibility, production experience and market reach."
Rajeev Bhalla, Director of Hydrogen and Energy Solutions of MVS
Energy Solutions commented:"Over the next 10 years hydrogen will
become a considerable alternate fuel. In the telecoms market alone,
hydrogen as an alternative fuel should have a 30% market share,
creating a demand of 350,000 1.0 Nm(3) /Hr H(2) electrolyzer
devices. MVS Energy Solutions is delighted to bring Acta's product
line to the Indian telecom sector's backup power market as there is
tremendous market potential in this space for affordable hydrogen
generators and fuel cells. With a demo site coming up at our
premises, we will be the first and only hydrogen generator supplier
in India to have credibly demonstrated what we are intending to
sell in the market."
- ENDS-
For further information please contact:
Acta S.p.A
Paul Barritt, Chief Financial Officer Tel: +39 050 644281
www.actagroup.it
Altium Capital (Nominated Advisor)
Adrian Reed / Dom Orsini Tel: +44 (0)845 505 4343
Cantor Fitzgerald Europe (Broker)
Mark Percy / David Banks Tel: +44 (0)20 7894 7000
Media enquiries:
Abchurch Communications Limited
Janine Brewis / Shabnam Bashir / Jamie Tel: +44 20 7398 7707
Hooper 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, and the Company is committed to integrating its award-winning
electrolysers with renewable energy sources.
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. They are also applicable in non-fuel cell
hydrogen and oxygen applications, including oxy-hydrogen gas
welding systems, where the Company is generating significant
commercial interest.
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,
back-up power, 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 S.p.A. is based near Pisa, Italy, and was admitted to
trading on AIM in October 2005.
www.actagroup.it
This information is provided by RNS
The company news service from the London Stock Exchange
END
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