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

To: speculatingvalue who wrote (92)	7/7/1998 12:41:00 PM
From: speculatingvalue	Read Replies (1) \| Respond to of 6016

I guess they won't be reporting heater revenues this quarter? I thought they were done testing. CALGARY, July 7 /CNW/ - Global Thermoelectric Inc. (ASE: GLE) announced today that physical testing of its new A20 armoured vehicle personnel heater has been completed at the Aberdeen Proving Ground in Maryland, U.S.A. Upon final approval of test results by the U.S. Army's Tank Automotive Command, Global will commence ramping up to full rate production of 200+ heaters per month. The new heater is a major step forward for the Army. It is microprocessor controlled and can interface with future all-digital vehicles. Internal fault detection capability provides advanced safety in the event of problems, whether in the heater or in vehicle systems such as fuel or power supplies. The new units are interchangeable with older heaters in about 40,000 American-made vehicles worldwide, creating a substantial market for replacements and upgrades. Global is actively seeking additional markets for the heater. Military forces around the world have been contacted, and expressions of interest have been received as they find the A20 a significant improvement over the equipment they are now using. In addition, units have been supplied to two American new vehicle manufacturers for integration into upcoming programs. Established in 1975, Global is the world's largest manufacturer of sophisticated thermoelectric generators which provide a reliable source of electrical power in remote locations, for such uses as telecommunications and remote monitoring systems for oil and gas production and transportation. Global's thermoelectric generators are a reliable, economical alternative to other technology such as solar power. In addition Global is developing a new line of commercially viable fuel cells to produce electric power. The Alberta Stock Exchange has neither approved nor disapproved the information contained herein. -30- For further information: Jim Perry, President or Larry Kyle, Controller, (403) 236-5556