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

To: StockPro who wrote (5439)	2/20/2002 12:46:32 PM
From: Vitalsigns	Read Replies (1) \| Respond to of 6016

I wrote this on Stockhouse this morning about GLE and the Market place. Everyone keeps harping about Delphi and the lost market . Well we never really had anything substantial with Delphi other than a few fuel cell orders and no other requests since then. All the major fuel cell plays recognize that Automotive will be the last sector to benefit from Fuel cell technology yet GLE is the only one I know of that has been making big inroads into the North American market for Remote and Cogen units . Suburban, Superior,Bonneville, Enbridge, Citizen . These are all markets that are close to home and that consumers will know and recognize. What do the other fuel cell companies have for energy partners? This is a sleeper stock ... for now but the deals (or Mou's) are definitely painting a roadmap to a profitable venture. We may or may not have lost Delphi, even GLE is unsure of where they stand. There were no new orders but that does not mean the they will not come back. There may have been more work to be done yet . But based on the Solamon Smith presentation, the automotive should not be our primary focus, it will be a high volume low margin business which will be the last to be developed because of cost constraints required to make them feasible in an auto. To say that Delphi was our most important relationship is wrong. It WAS our most important relationship in 1999 when it was first announced. Since then the market has come to understand that AUTO is a long time away from coming to fruition with BAllard, GM and most other FC companies announcing there intention to enter the remote and Home power markets. That in itself is a validation that Gle's focus has been in the right direction from the beginning. They have stated from day 1 that Auto would be the last market to enter, and so far the others are proving that fact. The remote market, GLE has a very large head start given the reputation and market recognition of its TEG division. It will be an easy sell . The Home Cogen, Again GLE is targeting a market (Propane and Natural Gas) that will be the first to market buyers. It's taken me a long time to get over Delphi as well, don;t get me wrong but when you do the math as to what is more profitable and likely to generate income first, its not hard to figure out that all these deals announced since November have much more value than any Delphi deal longer term. Vitalsigns