MVS Energy Solutions signs Letter of Intent for Distribution with Acta S.p.A. Italy
19 December 2012Acta S.p.A.
(“Acta” or “the Company”)
Letter of Intent for Distribution Partnership for India
Acta S.p.A. (AIM: ACTA), the clean energy products company, is delighted to announce that it has signed a Letter of Intent with MVS Engineering Ltd (“MVS“), India’s largest supplier of industrial gas equipment and solutions, for the distribution of Acta’s electrolysers in India through MVS’s new business division, MVS Energy Solutions.
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 their Air and Gas equipment to more than 60% of the top 1,000 companies in India.
MVS is forming a new division called MVS Energy Solutions (“MVS Energy”) to address the growing need in the Indian market for back-up power solutions. Acta and MVS Energy intend to sign a distribution contract early in 2013, once local administrative procedures have been completed, for the distribution of Acta’s electrolysers and related products into the Indian market. The objective of the partnership is to allow the introduction of on-grid and off-grid integrated fuel cell back-up power solutions based on on-site hydrogen generation.
India is one of the world’s largest markets for back-up power systems, including the telecoms market, due to the limited and fragile nature of the electricity grid. India currently has more than 370,000 telecom base stations (Source: Analysys Mason).
Paolo Bert, Chief Executive of Acta commented: “This is another important step forward for Acta’s mission to introduce cost-effective on-site hydrogen solutions for back-up power, renewable energy and other fuel cell applications. We are delighted to be working with MVS Energy Solutions and to be able to benefit from their technical credibility, production experience and market reach.”
Siddharth Rastogi, Executive Director of MVS commented: “We look forward to working with Acta for distribution of electrolysers based on their innovative stack technology and we see great opportunities in the Indian back-up power market. MVS Energy Solutions has been formed to offer complete end-to-end solutions for Hydrogen-centric backup power and Acta’s innovative and low-cost Hydrogen generators range will be a core component at the heart of our solutions.”
For further information please contact:
Paul Barritt, Chief Financial Officer
Tel: +39 050 644281
Altium Capital (Nominated Advisor)
Adrian Reed / Dom Orsini
Tel: +44 845 505 4343
Seymour Pierce Limited (Broker)
Mark Percy / David Banks
Tel: +44 (0)20 7107 8000
Abchurch Communications Limited
Ashleigh Lezard / Jamie Hooper
Tel: +44 20 7398 7712
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.
About MVS Engineering Ltd (parent company of MVS Energy Solutions)
Since its inception in 1977 MVS Engineering has been at the forefront of technology and has supplied over 7,000 units worldwide. The company is a turnkey supplier of air and gas equipment and has been a market leader in developing and executing on-site systems for continuous uninterrupted supply of high purity gases and dry air. MVS Engineering has technical collaborations with some of the world’s leading engineering consultants and technology companies, including CarboTech AC GmbH, Hy9 Inc, Proton OnSite and MEDAL (Air Liquide).
MVS Engineering is India’s largest manufacturer of gaseous Nitrogen Generators and Hydrogen Generators. MVS is already very well known in India for its complete range of Hydrogen Generators utilizing a multitude of technologies including Water Electrolysis, Ammonia Cracking, Natural Gas Steam Reforming (SMR), Methanol Cracking and Bio-gas purification. MVS is associated with the world’s largest PEM Water Electrolysis Hydrogen Generators company – Proton OnSite (USA) – and with a European technology leader for SMR and MeOH Crackers.