The deal enables Alternative Investment Market-quoted Acta to deliver a renewable energy value chain since PV technology complements Acta’s hydrogen generator technology that can produce compressed hydrogen, so solving the problem of how to store energy generated from renewable sources. “We see a need for an integrated chain going from renewable energy generation through wind and solar to energy storage and then to end-user applications,” Acta’s chief financial officer, Paul Barritt, told Quoted Cleantech. “This should all be integrated, but the trouble with wind and solar is that you get an intermittent output.”
Acta’s chief executive, Paolo Bert, said: “The enlargement of the SPF installation contract from €8.8 million to €32.2 million underpins our strong confidence that Acta will achieve profitability and positive cash flow in the second half of 2010 without the need for additional shareholder funding.”
On the day of the announcement, Acta’s shares increased by 35.3%, ending the day at 46p each.
Market: AIM
Symbol: ACTA
Price: 56p
12 month high/low: 60p/3.75p
Market cap: £23m
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