the fuel cell technology enabler, have announced
that it has signed its first commercial sales and
distribution contract with Summit Medichem Ltd, Sumitomo
Corporation's Chemicals Business Unit and subsidiary.
The contract covers Japan, South Korea and Taiwan.
Acta's breakthrough in nanotechnology catalysts will
enable the competitive launch of fuel cells to the
mass consumer market.
Under the terms of the contract, Summit Medi-Chem will have exclusive distribution
rights to Acta's technology, moreover it has committed to delivering commercial
contracts in the first year.
This is an important first step into the critical Asian market for Acta and
the company will be building on this strong foundation by seeking to develop
commercial relationships with the leading Asian OEMs over the coming twelve
Acta proprietary nanotechnology has enabled it to develop a new, unique family
of catalysts called HYPERMEC™ catalysts which breakdown the barriers to the
commercialisation of the fuel cells for mass market applications. HYPERMEC™ catalysts
use low cost materials, work at low temperatures, enable use of cheap, safe
and environmentally friendly fuels and solve other technical issues, thereby
creating the possibility of producing fuel cells for consumer products.
Acta's HYPERMEC™ catalysts are platinum free and perform as well as or better
than platinum catalysts depending on which fuel they are working with. In addition,
while HYPERMEC™ catalysts can function on methanol and hydrogen, the two most
common fuels currently used by the fuel cell industry at present, fuel cells
using Acta's catalysts can also run directly on ethanol, a safe, practical
and widely distributed fuel at room temperature, which platinum catalysed fuel
Commenting on the Summit Medichem contract win, Paolo Bert, President, Acta
said, “We are delighted to have signed the deal with Summit Medi-Chem. We believe
this contract with one of Japan's leading industrial companies will enable
Acta to rapidly develop a close relationship with the Japanese OEM's, who are
key challengers in the race to introduce fuel cell powered portable devices
to the mass market. The commitment of Summit Medi-Chem and the feedback from
their customers confirms our belief that Acta's technology is scientifically
innovative and commercially very promising.”
Masaaki Uemura, President, Summit Medichem added, “We are very excited about
Acta's breakthrough and the development of HYPERMEC™ catalysts.
“The initial response to the technology from some of Asia's leading OEMs has
been overwhelmingly positive. We are confident that we will be announcing OEM
agreements over the next twelve months.”
For further information, please
Melissa Rowling, Weber Shandwick
(0044) 207 067 0712
(0039) 0257 378 357
Klara Kaczmarek,Weber Shandwick
(0044) 207 067 0670
Acta has made a breakthrough which will enable fuel cell products to expand
from early adopters to the mass consumer market. The fuel cell industry is
forecast to grow at nearly 70% per annum (Source: Allied Business Intelligence)
but at present there are commercial barriers that are preventing its full potential
from being realised. Acta has developed a new family of catalysts that use
low cost materials, work at low temperatures, enable use of cheap, safe and
environmentally friendly fuels, and solve other technical issues - thereby
enabling fuel cells to be transformed in to mass market products.