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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 (173)	11/5/1998 3:21:00 PM
From: Stephen O	Read Replies (1) \| Respond to of 6016

Global Therm: Breakthroughs in Fuel Cell Development Program 11/5/98 GLOBAL THERMOELECTRIC INC ("GLE-TY;GBTOF-L") - Breakthroughs in Fuel Cell Development Program Jim Perry, President of Global Thermoelectric Inc. announced that significant breakthroughs have been achieved in the Company's solid oxide fuel cell development program. The Calgary-based manufacturer is developing commercially viable electric power generating equipment using fuel cell systems. In August, the Company announced the successful testing of the first fuel cell it produced using volume-oriented, manufacturing processes rather than laboratory methods. Since then, Global has been working to develop compact fuel cell systems that will generate up to 30 kilowatts of power. Global Thermoelectric expects to have a prototype of its fuel cell based electric power generating system ready for demonstration early in 1999. Fuel Cell System to Run on Natural Gas Global Thermoelectric is concentrating on the use of natural gas or propane to directly supply fuel-cell-based commercially-viable power generating equipment for oil and gas and telecommunications applications, especially for remote locations. According to Jim Perry, President of Global Thermoelectric, the most recent breakthroughs have been achieved while testing a fuel cell system manufactured completely in-house. "The test system is exceeding our expectations for the generation of electricity," said Mr. Perry. "We have also overcome a major problem faced by the industry with sealing between the cells. This means that our units can be continually cycled and handle rapid start-up and power-down." Combined, these factors will allow Global to produce a rugged, compact and environmentally friendly fuel cell system to generate electricity. The use of natural gas as fuel will mean the technology is clean, generating no combustion byproducts, and very efficient. Residential Power Among Potential Applications for Fuel Cell Technology "The progress we have made to date could open up many expanded markets for commercial applications, including residential uses," Mr. Perry explained. "A residence can use between three and eight kilowatts of electricity per hour. A fuel cell generator running on natural gas could provide full power or supplement existing electricity sources during peak load periods. Hybrid electric vehicles are among other potential uses of this advanced technology." Established in 1975, Global Thermoelectric Inc. is quickly becoming a world leader in the fuel cell development industry. The Company is also the world's largest supplier of thermoelectric power generation equipment for use in remote locations, and is also now manufacturing personnel heaters for use in military vehicles. TEL: (403) 236-5556 Jim Perry, President Jim Lumsden, Vice President of Research and Development ______________________________ (c) Market News Publishing Inc. All rights reserved. Tel:(604) 689-1101 Fax:(604) 689-1106