FuelCellsWorks

Acta, the provider of clean energy products and environmental catalysts, announces that the Company and Sumitomo Corporation, Acta’s strategic partner and 10% shareholder, have agreed a new distribution arrangement for Acta’s products. Whilst Sumitomo Corporation will continue as Distributor of Acta’s catalyst products to the Japanese automotive and industrial sectors, the current exclusive distribution agreement for the broader Asian region was terminated by mutual consent on 2 March 2010. The new arrangement will allow Acta to sell its hydrogen generators and related product range into the wider Asian market through alternative distribution channels, including direct sales. This two-channel distribution strategy will assist Acta to coordinate the distribution network for its hydrogen generator product range by sector and application, without losing the valuable support of Sumitomo in relation to the distribution of advanced catalysts for large scale automotive and industrial applications.  Sumitomo has confirmed that it will remain as a shareholder of Acta, and does not intend to reduce its shareholding in the Company from the current level. Paolo Bert, Chief Executive, commented: “We continue to be grateful to our friends at Sumitomo Corporation for their guidance and support as our business grows.  We are bringing new and unique products to the market, and this has required the development of distribution channels and agreements which will best support the success of these products.  We will continue to rely on the assistance of Sumitomo to pursue our shared ambitions in the Japanese automotive sector, and we thank them for their continued support as our partner and largest external shareholder.”

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