Acta Releases Preliminary Results for Year Ended 31 December 2012

27 Mar 2013

Acta S.p.A, the clean energy products company, today announces its Preliminary Results for the twelve months ended 31 December 2012.

2012 Financial Results

  • Revenues of €0.4 million (2011: €3.9 million including photovoltaic EPC services; €0.1 million excluding photovoltaic EPC services which were discontinued in 2011)
  • Revenues from products and R&D services of €261,000 (2011: €66,000)
  • Forward order book at year end €0.9 million (2011: Nil)
  • Proposals pipeline €0.5 million (2011: €20,000)
  • Operating loss of €3.1 million (2011: €1.8 million loss) following exit from photovoltaic activities
  • Successful fundraisings totalling £4.1 million before expenses (2011: Nil)
  • €0.4 million grant funding during 2012 (2011: €0.9 million)

2012 Commercial Update

Sales and Marketing:

  • Five new marketing and distribution partnerships announced in the telecoms, educational and consumer markets
  • 10-year distribution agreement with Heliocentris, strategic partner and investor
  • 5-year supply agreement with FutureE for back-up and off-grid power systems
  • First shipments of EL500R electrolyser and AES1000 electrolyser stacks

Operational and Product Development

  • Sales Director appointed and production and technical management team strengthened
  • Six new products and two ancillary units developed
  • First development and shipment of an integrated Acta electrolyser and Ballard fuel cell system by M-Field, a system integration partner
  • HG100 high purity electrolyser developed for October 2012 launch to educational market

Developments since Year End:

  • Appointment of MBR as commercial sales partner for South East Asia
  • Receipt of first electrolyser order for telecom back-up power in Indonesia
  • New 600 m2 rented premises taken on to increase production capacity
  • Recruitment of seven new staff in production, engineering and commercial roles, bringing total staff headcount to 41 as at 28 February 2013 (December 2011: 34)
  • Acta terminated its Letter of Intent with the Ecoisland project
  • Development program initiated for integrated renewable energy storage and telecom back-up power system, to be demonstrated at Hannover Messe, 8 to 12 April 2013


Robert Drummond, Chairman, said :

“2012 has been an important year of development for Acta and the Board has been satisfied with the progress that the Company is making. 

As reported at the time of the interim results, Acta is making significant progress in the market adoption of its products and through the transformation of its business into full manufacturing operations.  This progress has continued to gather pace through the second half of 2012 and into the current year, and we are seeing direct benefits in our product readiness, commercial engagements, order rates and monthly revenues.

Following the cost reductions undertaken in 2011 and 2012, the Company is now in a strong growth phase, with investments increasing in product development, production facilities and numbers of staff.  We have increased staff levels in key operational roles such as production, engineering and quality control, as well as in product sales and sales support, while reducing or reallocating the number of staff engaged in pure research. 

In response to the recurrent demand of our customers and partners the Company has also launched the development of an integrated electrolyser and fuel cell system for energy storage.  We will be demonstrating this important new product during the second quarter of this year and we believe that it may become a central product offering for us in the future.”

Source: Acta SpA news release


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