ACTA.L Regulatory News (ACTA)

13 Sep 2006 07:01

Acta S.p.A.13 September 2006 13 September 2006 Acta S.p.A. ("Acta" or the "Company") Sumitomo Corporation and Acta extend relationship Acta, the manufacturer of platinum-free catalysts for fuel cells and otherapplications, is delighted to announce that it has renewed and extended itsmarketing and distribution agreement with Sumitomo Corporation in Asia. Thisextension reflects Sumitomo's confidence with the progress that Acta has made indeveloping its breakthrough HYPERMEC catalyst for potential application in thefuel cell programmes of Asian OEMs. It also demonstrates the positive feedbackthat Sumitomo Corporation has experienced concerning the importance of Acta'stechnology for the fuel cell industry. Acta and Sumitomo Corporation started working together in April 2005. Sumitomohas been active on Acta's behalf and has introduced Acta's HYPERMEC catalystsfor fuel cells to most of the leading portable electronics and batterymanufacturers in Japan and Korea. Many of these OEMs are now evaluatingHYPERMEC. The new agreement extends Sumitomo's remit geographically into Chinaand also paves the way for Sumitomo to market innovative catalysts for otherapplications which Acta has in development. Mr Uemura, senior manager in Sumitomo Corporation, said: "The industry in Asiahas been most responsive to Acta's HYPERMEC technology and customer interest isvery pleasing. We are delighted to continue working with Acta in order toaddress these potentially very significant markets." Toby Woolrych, Chief Operating Officer of Acta, said: "We have been delightedwith the commitment and professionalism of Sumitomo and with the progress thatthey have made in introducing us to potential customers and partners in Asia. Wealso recognise that Sumitomo's renewal of their agreement with us represents astrong endorsement of our technology in the fuel cell market. As Acta continuesto grow and develop its product range, I am very pleased to extend the terms ofour agreement so that we can expand our collaboration in Asia both for the fuelcell industry and for other markets." - ends - Contact: Acta S.p.A:Toby Woolrych Tel: 020 7067 0700 Weber Shandwick Square Mile:Nick Dibden / Charlie Hooper Tel: 020 7067 0700 Notes to editors: The Fuel Cell Industry Fuel Cells Fuel cells are electrochemical devices which generate electricity from a fuel (typically hydrogen or methanol in the past) and air producing justwater and sometimes carbon dioxide as exhaust. Fuel cells can be used to replacepower supplies for portable electronic devices as well as the internalcombustion engine and power generators for domestic use. They are widely seen asa solution to the power inefficiency of batteries, long term limitations infossil fuel supply and to managing the problem of greenhouse gases. Majorelectronics and automotive companies as well as governments are spendingbillions of dollars per annum to make fuel cells a reality in consumer markets. Portable fuel cells Portable fuel cells are those designed to replace lithium-ion batteries for mobile phones, laptops and other portable electronic devices, all of which are increasingly hampered by the limitations of battery life. These fuel cells are generally not powered by hydrogen gas, which is restricted in use and hard to safely store and use, but by a hydrocarbon liquid, typically methanol. Direct Alcohol Fuel Cells (DAFC) These are fuel cells that have been powered by methanol in the past. Methanol is toxic and is usually a fossil fuel derivative. Ethanol, which may replace it thanks to Acta's new technology, is safe and practical to use. Ethanol is also made from renewable sources, making the fuel cell more environmentally friendly as the carbon dioxide produced in use comes from the existing carbon cycle and does not count as a greenhouse gas. Fuel cells with Acta catalysts can also use ethylene glycol and glycerol, which are both safe and have excellent technical advantages over methanol. Barriers for fuel cell commercialisation Fuel cells have made and continue to make great strides towards commercialisation. Key remaining barriers are partly driven by the catalysts, which have to date contained costly and scarce platinum: • preventing products from reaching their commercial cost targets • requiring fuel cells to use impractical methanol as a direct hydrocarbon fuel Acta's technology ActaActa is an Anglo-Italian company which floated on AIM in October 2005.Acta has completed its manufacturing and research facility near Pisa in Italyand is now rolling out its HYPERMEC catalysts to the global market forevaluation. HYPERMEC Catalyst Acta has developed a platinum-free catalyst called HYPERMEC. HYPERMEC is made from cheap and abundant materials, dramatically lowering the cost of industrialising fuel cells and electrolysers. HYPERMEC catalysts workwith anion exchange membranes which are significantly cheaper than the currentcationic membranes, further reducing the cost of the fuel cell or electrolysersystem. HYPERMEC also allows the use for the first time of a whole range ofhydrocarbon fuels, including ethanol. Sumitomo Corporation Sumitomo Corporation Sumitomo Corporation is one of Japan's largest and most reputable trading corporations. It has extensive experience in selling materials into the chemicals, portable electronics and battery materials industries. The Acta/Sumitomo Agreement Acta and Sumitomo Corporation entered into a marketing and distribution agreement in April 2005, through which Sumitomo promotes Acta's catalysts in Japan, Korea and SE Asia in return for a percentage of future revenues. The new agreement clarifies the nature of these pre-revenue marketing activities, extends the contract to cover China and paves the way for the introduction of other new products as they become commercial. This information is provided by RNS The company news service from the London Stock Exchange