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Strategies & Market Trends : Rande Is . . . HOME -- Ignore unavailable to you. Want to Upgrade?

To: Lola who wrote (11682)	9/6/1999 10:34:00 AM
From: Moosie	Respond to of 57584

Good Morning Rande, Another response to your interest in Fuel Cell co.'s. I'm interested in these as well. Many company's have stated their intent to be a player in this technology, and many company's are producing lot of R&D. The hard part is figuring out which company is going to be the one which gets a working safe and troublefree product out. This company might has some merit but not for a while IMHO Power Plug Inc. Subject 30376 Power Plug seeks to raise $117.3 mln in IPO WASHINGTON, Aug 27 (Reuters) - Power Plug Inc., a company designing and developing a new system to provide electricity, filed to raise as much as $117.3 million in an initial public offering, a Securities and Exchange Commission filing said. The company didn't disclose how many shares it planned to sell or a projected range per share, information that will likely come in subsequent filings. Power Plug said it is developing a residential fuel cell system, initially approximately the size of a refrigerator, that will take in natural gas or propane and convert it into a hydrogen-rich stream and combine it with oxygen to generate a chemical reaction that produces electric power. The company said it has been selected by General Electric Co. (NYSE:GE - news) to exclusively provide fuel cell systems for residential and commercial applications under 35 kilowatts. The Latham, New York-based company, with $14.7 million in net losses during the first six months of this year, applied to sell its shares on Nasdaq under the symbol (Nasdaq:PLUG - news). Power Plug said it plans to use $20 million raised for manufacturing equipment, facilities and other capital expenditures; and an undetermined amount for research and product development, market development, potential acquisitions, and other general corporate purposes. The $117.3 million figure cited in its IPO filing was used only as a basis to calculate the SEC registration fee, the filing said. The IPO underwriters include Goldman, Sachs & Co., Hambrecht & Quist, Merrill Lynch & Co. and FAC/Equities.