("Acta" or "the Company") Publication of Annual Report and Accounts

RNS Number : 7083E
Acta S.p.A.
06 June 2012

 
 Press Release   6 June 2012 
 

Acta S.p.A.
Pursuant to Rule 20 of the AIM Rules for Companies and following release on 29 March 2012 of its preliminary results for the year to 31 December 2011, the Company announces that copies of the Annual Report and Accounts and AGM Notice have been published and will be available shortly on the Company's website at www.actagroup.it.
Following the shareholders' consent obtained in 2009 to limit the documentation sent by the Company to its shareholders, the AGM documentation will not be circulated to shareholders unless requested. Those shareholders wishing to receive the Annual Report and Accounts and AGM Notice by post may contact the Company at the details below to receive a copy.
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Ceramic Fuel Cells Limited show the Bluegen MCHP at the Ecobuild show London 1-3 March 2011

Ceramic fuel cells limited Bluegen unit was being displayed at the Ecobuild show March 3, 2011 on the E.ON stand. The unit was placed on the side of the stand and was getting interest. The Bluegen had the side and back covers removed so the internals could be seen. E.ON’s stand was in the renewable section of the Ecobuild show which had mainly solar and air source heat pump stands. Paddy was one of the Ceramic fuel cells limited sales staff on the stand and answered most of my questions regarding the Bluegen and E.ON’s adaptation MCHP unit which uses the Gennex fuel stack as its core. E.ON has yet to name their Gennex MCHP adaptation and a release date has not been finalized. Due to this, there is no marketing/advertising program in place. It was interesting why E.ON was displaying the Bluegen as they are not directly marketing it, maybe to gauge interest.



















Ceramic fuel cells rely on their partners such as E.ON, EWE, GDF etc to market the product so at the moment it is a waiting game for them until Bluegen and Gennex MCHP adaptations come to market. As far as they are concerned the Bluegen is a fully tested unit ready for sale to the mass market which is their main target, they want to take the Bluegen / Gennex product global. This is the same case when it comes to the price. There is no price tag on the unit. It will be their partners who will fix their price and whether it is leased to their clients. There is also the service maintenance cost to include. The unit requires a service every 12 months which consists of changing water intake filters and gas intake filters. The Gennex fuel cell module has a life span of 5 years and will require replacing around that time. This is why it may be better to lease the units as this can be included in the lease plan if leasing will be available. Ceramic fuel cells say these units are not for the DIY’er and must be installed and serviced by qualified trained staff.

There maybe some subsidies for the Bluegen and its adaptation. Germany is toying with the idea of adding it to their renewable subsidies but this is not in stone. There is a $1 Bln fund in Germany and with EWE currently testing the unit it is the belief of the Ceramic fuel cells sales staff that Bluegen will eventually get accredited for this. As for shareholders of the company getting a discount they had no comment.

The Gennex fuel stack is the heart of the unit and other adaptations. The system cannot be scaled down (only up) so there is no possibility of a Micro-Micro CHP portable unit. There are other competitors out there including the Whispergen which is not a Ceramic fuel cells limited product. This is mainly for heating and uses a sterling engine to produce power from the exhaust heat. This according to Ceramic fuel cells limited will mean that for 6 months of the year the unit will not produce much power to sell back to the grid where Bluegen is mainly geared to power generation. The Bluegen has the advantage as it can easily be configured to use other hydrocarbon gases such as shell gas, hydrogen, methane, bio gas etc.

The Bluegen product is ready, all Ceramic Fuel Cells need to do is sell it to the masses. It is cutting edge technology that can only get better with time. There are no plans for Ceramic fuel cells limited to use the Gennex technology for other applications other than MCHP units. There is also the installation and maintenance training that will be required by their partners, which is what some of them are doing now. With E.ON needing to order 100000 units, between 2012 to 2018 to keep exclusivity it is up to them to get a foothold in the UK market not Ceramic fuel cells limited.


Photo: E.ON stand © Sean Orion
Composed @ EcoBuild London © Sean Orion 2011

Ceres commences Wall Hung Fuel Cell Boiler Trial 19th February 2011

Fuel cell manufacturer, Ceres Power Holdings plc has commenced commercial field trials of its wall‐mounted Combined Heat and Power (CHP) boiler in occupied homes.

Following receipt of European type approval, an operating fuel cell CHP product generating heat and power has now been installed in the family home of a British Gas customer in South East England. The field trials programme will continue throughout 2011 and into 2012 with Ceres' CHP products being deployed in a wide range of homes across the UK. In addition, there is an extensive on‐going testing programme of CHP products and components at the Ceres' test facilities.

The first wave of CHP products is being installed in consumers' homes during the first quarter of 2011, with the second wave of products incorporating valuable in‐field experience to follow six months later. The final wave of at least 150 field trial CHP products will take place in 2012 to test the Company's ability to scale‐up for initial product sales and volume launch with British Gas.

The Ceres Power fuel cell CHP product operates on mains natural gas and can generate all of the heating and hot water and the majority of the electricity needs of a typical UK home.

The CHP boilers for the field trials are being manufactured using volume‐capable processes, with the fuel cells at the heart of the product being produced at the Ceres factory in Horsham, whilst CHP boiler assembly is taking place in Holland.

Peter Bance, Chief Executive Officer of Ceres Power, says "We have made enormous progress in the development of our product over the past few months and the start of commercial field trials is a major milestone in Ceres Power's development. I am delighted that our unique wall‐ mounted fuel cell CHP product is now being installed in consumers' homes and look forward to selling the product in conjunction with British Gas."

The field trials are being conducted in partnership with British Gas. Under the contract with Ceres Power, British Gas is paying £5 million to the Company in staged milestone payments and has also placed a forward order to purchase in aggregate a minimum of 37,500 CHP products on an escalating basis. Ceres Power will give an update on its British Gas residential CHP programme at the Company's Interim Results to be presented next month.

Ultra Electronics acquires portable fuel cell manufacturer Adaptive Materials

U.K.-based Ultra Electronics Holdings has acquired Adaptive Materials, a Michigan-based solid oxide fuel cell developer for $23 million. According to an Adaptive Materials press release, the company will continue to develop and manufacture propane-powered fuel cell systems.

Adaptive Materials designs and manufactures portable fuel cells in the 50-300 W range. Its solid oxide fuel cells run on propane. The company says that propane fuel cells can deliver nine times the energy density of conventional batteries.

2010 appeared to be a good year for Adaptive Materials. Back in March the company won $3 million in new funding through Michigan’s Centers of Energy Excellence Program. In September they were awarded a $750,000 contract to manufacture energy software for the battlefield and received $2.5 million in DARPA funding for portable fuel cells for the U.S. Army. The Army then awarded them $12 million for fuel cell research in November.

Ultra Electronics and Adaptive Materials seems to be a good fit. Ultra Electronics is also a defense company, also focusing on aerospace applications. If things go as planned, Ultra Electronics will offer an additional $5 million to the sale of Adaptive Materials. Certain performance-based measures must be achieved by December 13, 2013 for that bonus to qualify. Lucky number 13?

As a side note, Ultra Electronics says it will keep everyone currently employed at Adaptive, and still hopes to fill the 10 employment positions that Adaptive has open.