Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: ddl who wrote (5711)	11/6/2002 4:11:36 PM
From: the Chief	Respond to of 6016

Here are questions I want answered. stockhouse.com

To: ddl who wrote (5711)	11/6/2002 4:43:58 PM
From: Gulo	Read Replies (1) \| Respond to of 6016

I'm obviously not as upset as the rest of you. To address your questions: How can they say we expect to spend $25MM on commercialization, when development is not yet complete? Easy. Commercialization involves taking a proven process and packaging it to sell. The proven part is record-setting efficiency and energy density, a sealing mechanism that works on the bench, and ancillary systems that have gone through the proof-of-concept stage. The packaging part means making prototypes that can withstand thermal cycling without leaking, adding heat-recovery systems to make hot water, etc. and, most importantly, designing manufacturing processes that are cost effective. I didn't read much that misled me to believe a commercial product was around the corner. It has always been two years away. It was two years away four years ago and is two years away now. ;) Then why did we sell a product to Delphi? Did we have a product then to sell, and we don't now? GLE has fuel cell stacks to sell to Delphi for testing. GLE didn't and doesn't have a unit that you can stick in your basement. If you go to GLE and offer $1.3 million for a few stacks, I'm sure they would consider your request. So tell me, is the "successfull testing of other residential units" not the same as "successfully meeting its techonology and cost objectives"? What is the real definition of a successful test? I had to read carefully there too. A "successful test" apparently meant that they got a prototype to operate to the objective of the test. For one of the tests, that meant they got the various subsystems to work together. The objectives of recent and current tests would not be to meet full commercialization requirements. They would be to reach intermediate goals, such as sealing through X thermal cycles, or maintaining X% activity through 10,000 hours. All in all, GLE is a long-shot. Siemens had a shtload more resources and if they ever decide to hit the residential cogen market hard, GLE will have a tough time competing. As I see it, the only real areas where GLE has an advantage are the technical areas of 1) ceramic composition (which gives better efficiency at low temperatures but is hard to protect), 2) membrane manufacturing process (cheaper and faster than extrusion), and 3) the thermal seal (if they can get it to be reliable enough). They also have a few agreements to co-market products if and when they have products. That is all fine and dandy, but I bought them because they have lots of cash and a story that could generate speculative interest next year. Beside, GLE holds a soft spot in my heart because it made me money back in '99. -g