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

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To: Mike Perras who wrote (869)4/19/1999 7:44:00 AM
From: the Chief  Read Replies (2) of 6016
 
Globe says Global Thermoelectric soars
The bold text is important....this doesnn't sound like a chump change contract!

Global Thermoelectric Inc GLE
Shares issued 16,113,384 Apr 16 close $10.70
Mon 19 Apr 99 In the News
The Globe and Mail reports in its Saturday, April 17, edition that shares
in Global Thermoelectric got a big boost Friday after the fuel cell
developer announced a sale to Delphi Automotive Systems. A Canadian Press
dispatch to the Globe reports that the value of the order was not disclosed
at Delphi's request, says Global president and chief executive officer Jim
Perry. Global Thermoelectric, based in Calgary, is working on a solid oxide
fuel cell system, seen as an environmentally clean way of combining oxygen
and hydrogen to produce electricity with water as a byproduct. The company,
which originated as a maker of generating equipment for remote sites and
also produces heaters for United States military vehicles, says it intends
to negotiate an agreement with Delphi covering its entire solid oxide fuel
cell project
. In the meantime, the initial purchase allows Global to start
work immediately.
(c) Copyright 1999 Canjex Publishing Ltd. canada-stockwatch.com
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