Acta S.p.A. Directorate Change (7497X)
November 24 2014 - 2:00AM
UK Regulatory
TIDMACTA
RNS Number : 7497X
Acta S.p.A.
24 November 2014
24 November 2014
Acta S.p.A. ("Acta" or "the Company")
Resignation of C.E.O.
ACTA S.P.A. (AIM; ACTA), the hydrogen energy company, announces
that Paolo Bert, Chief Executive Officer of the Company has
resigned with immediate effect. The Company has identified a
successor and a further announcement will be made in due course. In
the interim period until the appointment of a new chief executive
officer the Acta board will collectively assume responsibility for
all appropriate operational decision-making.
Mr Bert has managed the Company since its inception in 2004 and
has built it into a ground-breaking supplier of unique products in
the hydrogen production and renewable energy sectors. As
shareholder he remains supportive of the Company as it grows into a
major player in these exciting markets.
The Board would like to thank him for his considerable
achievements in developing the Company to where it is today and
wish him success in his retirement.
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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