Global Thermoelectric - SOFC Fuel cells (GLE:TSE) Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE)

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Stephen O who wrote (5353)	10/10/2001 5:26:26 PM
From: Vitalsigns	Read Replies (1) of 6016

You asked for it , you got it :) newswire.ca CALGARY, Oct. 10 /CNW/ - As part of its North American initiative to develop distribution partnerships for its fuel cell products, Global Thermoelectric Inc. ("Global") today announced that Global and Citizens Gas & Coke Utility ("Citizens") of Indianapolis, Indiana have signed a Memorandum of Understanding ("MOU") regarding a project to modify Global's residential Solid Oxide Fuel Cell ("SOFC") products as well as engaging Citizens to distribute Global's SOFC products. The MOU is the basis for the future definitive legal agreement covering these subject areas. The MOU contemplates that under the terms of the definitive legal agreement the parties will compile market and customer data as well as conduct on-site and field-testing of Global's SOFC products. The objective of these activities is to ensure the compatibility of Global's SOFC products with local market conditions, including such variables as customer preferences, load profiles and codes and standards. Upon the successful completion of this joint development and evaluation project, which is to be funded equally by both parties, the MOU also contemplates a long term business relationship whereby Global will provide Citizens with distribution rights within Citizens' primary territory, Indianapolis. Citizens is the sole natural gas distributor in Indianapolis, Indiana with over 262,000 residential, commercial and industrial customers. Citizens is a Public Charitable Trust established more than 100 years ago for the sole benefit of the residents of Marion County or Indianapolis. Citizens is the only Trust-directed utility in the country. For more information on Citizens Gas visit the Web site at: www.citizensgas.com Global Thermoelectric Inc. is a world leader in the development of SOFC products. The Company is also the world's largest manufacturer and distributor of thermoelectric power generators for use in remote locations. Global is developing SOFC products that can easily, cleanly and economically obtain hydrogen from hydrocarbon fuels. The Company is prototyping residential and remote power systems to be fuelled by natural gas or propane. Global is listed on The Toronto Stock Exchange (stock symbol: GLE). %SEDAR: 00002531E

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next