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Technology Stocks : FCL - FuelCell Energy
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To: Bread Upon The Water who wrote (383)4/26/2000 10:40:00 AM
From: Howard Williams  Read Replies (1) of 407
 
OT, Wm Hickman.....Syntroleum plant????

Syntroleum is NOT building a plant. They've hired TESSAG INA to do an engineering study for the Sweetwater plant that they hope to build in Australia. IF the economics look promising, they MAY be able to line up the financing to get it underway. The Aussies have signed up to provide several 10s of millions if certain conditions are met but my "read" is that not a penny has gone to SYNM yet. Sweetwater is a chancy thing long term IMHO because as soon as others get GTL plants running, the premium specialty chemical prices will drop substantially and the plant economics could collapse. That market is well under 1% of the diesel fuel market. I'm sure the potential financial backers for Sweetwater are taking a hard look at that. Meanwhile SYNM's coffers are emptying at a rapid clip and they desperately need to get a secondary offering sold. I'm surprised they haven't announced an underwriter for the $120 million in securities they registered.

The next 12-18 months will tell a lot about the relative quality of the various GTL players, their business plans, and their prospects for survival. You may feel RTK is just a shell/hype situation. They have far more going for them than SYNM but that's just MHO. RTK has more efficient and more versatile technology that can be implemented at lower cost. But only time will tell who the real winners will be.

Stay tuned. Sorry FCLers, I know this is way OT.
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