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Gold/Mining/Energy : Alternative Fuel Systems ATF:VSE -- Ignore unavailable to you. Want to Upgrade?

To: bc who wrote (442)	3/28/1998 11:12:00 AM
From: CancerMan	Respond to of 4605

Saturday, March 28, 1998 Investors ride AFS roller-coaster By IAN KARLEFF The Financial Post Investors this week discovered a new play on environmentally friendly fuel sources , pushing the shares of Alternative Fuel Systems to a 52-week high. Thursday, AFS shares (ATF/VSE) soared $1.62 to $3.01, on 44 times their normal trading volume. However, those gains were tempered Friday when the shares tumbled 82› to $2.19, on heavy volume of more than 4.2 million shares. That compares with the stock's average daily trading volume of 137,000 over the past six months. AFS shares have climbed from a 52-week low of 28› last May, fuelled in part by a meteoric rise in Ballard Power Systems Inc. (BLD/TSE) shares. Ballard has developed a zero-emission fuel cell in concert with 12 major auto and fuel companies in an attempt to provide the auto industry with technology to reduce carbon dioxide emissions. Calgary-based AFS has developed a system that allows gasoline-powered vehicles to convert to compressed natural gas. The product has found a promising market. AFS has a firm $2-million contract with Convertidores Cataliticos Mexicanos for 1,080 of its Sparrow conversion systems. The company also has committed itself with a letter of intent to supply CCM with 10,000 conversion systems a year for the next 10 years. CCM is the exclusive supplier of conversion equipment to Combustibles Ecologicos Mexicanos S.A., which has a mandate to build and operate compressed natural gas filling stations in Mexico and convert 48,000 mini-buses and 300,000 cars to natural gas in the next decade. CCM is owned by MEG International, a joint venture of Hydro-Qu‚bec, Gaz de France and a PanAmerican Enterprises. The first two compressed natural gas filling stations are expected to be in operation summer. "AFS is expecting a follow up contract for more conversion systems in order for these stations to operate at maximum capacity," said AFS president Gerhard Kloop. canoe.ca