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Gold/Mining/Energy : Global Thermoelectric - SOFC Fuel cells (GLE:TSE) -- Ignore unavailable to you. Want to Upgrade?

To: Supervalue who wrote (5432)	2/6/2002 7:54:21 PM
From: Stephen O	Read Replies (1) \| Respond to of 6016

SUBJECT: JP's Smith Barney Talk Posted By: musing on SH Post Time: 2/6/02 16:50 I thought it masterful. He began by establishing credibility of the Company; its been around for over 20 years, it has 100% of the remote generation market, the core technology was NASA lunar technology, GLE's customers are majors, pipeline companies, telecommunication companies, and these include U.S. companies who have GLE units on the U.S. mainland and Alaska. He then explained the way fuel cells function in an amazingly lucid and concise manner (impressive for an engineer); most important he talked about the advantages of SOFC's over PEM's', the advantages of GLE's fuel cells over other SOFC systems. He established the credibility of GLE's product by referring to the companies GLE has or is in the process of developing relationships with. I think he came across as smart, at the helm of an energetic and clear thinking, well funded and incredibly practical company. He focussed not only on technological development, but manufacturing development and market understanding. I, for one, really have underestimated both the extent of the market analysis that has occured and the diversity in the various markets. One of the things I liked about the talk is the reaction of the audience. Jim had them relaxed and listening. They laughed appropriately and immediately when JP told them that he has changed his former practice of carrying reformers (which he described as a tin can with beads in it) on airplanes and also triggered some good chuckles when he told them that in the fuel cell unit size reduction pictures, the individuals standing beside the units are the same size. Most important there were several questions after JP's speech, questions which I think support how practical the thinking is on fuel cell development. Why, he was asked would consumers prefer GLE's product over PEM's. The answer was very credible: economics, being able to recapture heat and avoid the expense of extravagant reformers gives GLE a meaningful advantage. JP's answers were direct and credible. JP covered a lot in a little time (I've only touched on some of the things that he focussed on). He deserves to be congratulated for the job he did.