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Non-Tech : Le coin des francophones -- Ignore unavailable to you. Want to Upgrade?

To: kamtrader who wrote (3390)	9/16/1999 8:03:00 AM
From: AriKirA	Read Replies (3) \| Respond to of 77509

À mettre sur un watchlist kam. Si la nouvelle du Joint Venture fait mention de GLE, on dépasse le high A Million-dollar Question for Global Thermoelectric By Adam Peeler Staff Writer BMW and Delphi Automotive are unveiling today in Germany a joint venture to develop cars running on fuel cells. The presentation, at the Frankfurt Automotive show, may have significant impact on the fortunes of small capital Canadian fuel-cell developer Global Thermoelectric Inc. (TSE: GLE). In April, Global inked a deal with Delphi, the world?s largest supplier of automotive components, to develop a solid oxide fuel cell system. At the end of August, Global received a purchase order for Cdn $1.3 million for the second segment of its fuel cell project. The million-dollar question then for Global and its investors is whether BMWs will be running on technology developed by the Calgary-based company. ?We?re watching things play out just as everyone else,? said Global CFO Larry Kyle. ?We?re not at liberty to steal Delphi?s thunder and announce it?s our fuel cell BMW is using. We just can?t say one way or another.? BMW Magazine recently described the solid oxide fuel cell (SOFC) technology they are utilizing as an innovative new fuel cell that is less sensitive to hydrogen impurities than conventional proton exchange membrane (PEM) fuel cells. (Canadian competitor Ballard Power Systems (TSE: BLD) of Burnaby, B.C. develops PEM fuel cells.) BMW Magazine name went on to explain the cells they will use are heated to around 800 C by using zirconium-oxide ceramic. ?Zirconium-oxide is one of the compounds we dabble with,? confirmed Kyle. ?But we have a confidentiality agreement with Delphi so you have to ask them if it?s our fuel cells BMW will be using.? Representatives from Delphi weren?t able to provide an answer today but they stressed they have several agreements in place to develop alternatives to gasoline. Colin Hoodspith, from Gopel McDermid has been following Global since its infantile stages and has a good feeling BMW has indeed employed their technology. ?It?s all speculative at this point until someone confirms it,? he says. ?But to take an educated guess, I?d say it?s their fuel cell. If it?s true, Global?s stock is looking like a pretty good deal right now.? Global is trading at $9.90 up 60 cents on volume of 187,793. Ballard, who is working with Ford and Daimler Chrysler, is trading at $50.10 on volume of 212,000. In the U.S. alone, there are now more than 120 million cars on the roads and fuel cells are seen as an attractive alternative to the harmful emissions produced by a dwindling oil supply. A fuel cell is an electrochemical device that takes hydrogen, one of the planet?s most abundant elements, and combines it with oxygen to produce electric power, heat and water. With fuel cell technology, fuel isn?t burned like gasoline. It?s electrochemically combined with oxygen and through chemical combustion it produces heat that?s transformed into energy. Because there is no burning, a fuel cell doesn?t produce harmful emissions. In addition to powering automobiles, fuel cells may eventually be used to heat residential or commercial space. With so much promise for other applications, Global is also pursuing strategic partners in other industries as part of their long-term business strategy. ?We?re looking at telecommunications,? said Kyle. ?We?re looking at remote power. It?s a big market.? The potential is so great Global plans to raise $25 million (through the sale of common shares) to build a pilot scale plant to manufacture fuel cell stacks and systems.