Letter of Intent Signed with Horizon Fuel Cell Technologies for
Electrolyser Development and Production
Acta S.p.A. (AIM: ACTA), the clean energy products company, is pleased to announce that it has signed a letter of intent (the "Letter of Intent") with Horizon Fuel Cell Technologies Pte Ltd ("Horizon") for the evaluation, development and production of electrolyser systems incorporating Acta's award-winning hydrogen generating technology.
Under the terms of the commercial agreement ("Agreement") covered by the Letter of Intent, Acta has sold an EL100 electrolyser to Horizon for evaluation purposes and will support Horizon's evaluation procedures through the sale of additional AES100 electrolyser stacks and other components. These include the development of a smaller, low pressure, low cost hydrogen generator for portable fuel cell applications, which was recently completed by Acta.
Horizon is based in Singapore with commercial distribution in over 40 countries worldwide. Subject to the successful completion of the evaluation stage, expected in the first quarter of 2012, Horizon intends to incorporate Acta's hydrogen generator stacks into its own electrolyser equipment for sale to its commercial fuel cell markets. While the Agreement does not include minimum purchase volumes, Horizon has sold hundreds of thousands of consumer fuel cell products over the past five years, the majority of which are sold together with a small electrolyser device for refuelling the fuel cell.
Horizon has been producing and selling commercial fuel cell units since 2005, and is now the world's largest fuel cell producer by volume of products. The company's original product lines included science and educational fuel cell kits, small demonstrators, and fuel cell products for the toy and hobby markets. Horizon has since developed into a major commercial fuel cell system producer, selling fuel cell systems with power capacities ranging from 10W up to 30kW for the portable, stationary and automotive markets, including fuel cell back-up power systems for the telecommunications market.
Paolo Bert, Chief Executive Officer of Acta, said:
"We are very pleased to be partnering with Horizon and this exciting opportunity represents the perfect channel for Acta to address the high volume market for small hydrogen generators for consumer fuel cell products. No other system on the market offers pure, pressurised hydrogen at a cost that is comparable with ours. Horizon is a world leader in the fuel cell market and as a result, the partnership will also increase Acta's reach into the back-up power systems market, where we see significant growth opportunities in the coming years."
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.
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.
Horizon Fuel Cell Technologies Pte Ltd, based in Singapore, is one of the world's largest producers of fuel cell products and systems, selling more than 15,000 fuel cell units per annum primarily into the education and hobby kit markets. Horizon sells to 40 countries worldwide and has developed fuel cell systems up to 30kW for portable, stationary and automotive markets. The company has also developed a complete fuel cell back-up power system for telecommunications applications, including off-grid power systems, and is pursuing the commercial exploitation of these systems in the Asian markets and beyond.
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