AIM listed Acta S.p.A. saw a surge in its share price, fueled by the news of extremely positive results of tests of its onboard hydrogen fuel enrichment system for diesel vehicles.
The system, which is based on Acta’s water electrolyser technology, achieved a fuel saving of the equivalent of 17% in tests on a 7.2-litre diesel engine Volvo truck. The tests took place at Car Diesel S.p.A. in Verona, Italy. The Acta system, according to the company, is superior to liquid alkaline electrolyser hydrogen fuel enrichment systems since it is free of contaminants such as water and potassium hydroxide, which are potentially damaging to the engine. Acta estimates that the annual net fuel savings are equivalent to EUR6,000 for an average long-distance HGV – which implies a payback period of just six months.
Acta’s share price shot ahead on the news, closing at 29p on 23 April – a gain of 97% since the start of the month.
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