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Technology Stocks : FUEL CELLS 1999's Hottest Sector -- Ignore unavailable to you. Want to Upgrade?

To: Scoobah who wrote (85)	3/31/1999 12:19:00 PM
From: Stephen O	Respond to of 171

Global Thermoelectric To Join Exclusive European Fuel Cell Resea 3/31/99 11:46 Program ---- Only North American Company Invited to Participate CALGARY, March 31 /CNW/ - Global Thermoelectric Inc. (TSE: GLE) today announced that it is joining a select group of European research institutes and partners in a European Community (EC) research program aimed at improving the durability of solid oxide fuel cells (SOFCs). Other participants in the program include Forschungszentrum Juelich, one of Germany's largest research organizations; Risoe National Laboratory and Haldor Topsoe, a major specialty ceramics and catalyst manufacturer, both from Denmark; ECN, the Netherlands national research laboratory, and Rolls Royce from the UK. Global is the only North American partner invited to join the research group. ''We are very excited about this development,'' stated Jim Perry, President of Global. ''By working with these very knowledgeable and capable partners, we will gain access to some of the best fuel cell technology in the world. Each of us will undertake investigation of different facets of increasing the durability of SOFCs. The information will be shared among the partners, bringing each of us to a higher level much faster than could be achieved alone.'' Global's Vice President of Research and Development, Jim Lumsden, added ''This program is the second phase of the EC's sponsored work on SOFC durability. The first phase ran from 1996 through 1998. The group has recognized our expertise in fuel cell development, and wants to have us join in their efforts for the second phase. The improvements to SOFC design that will come from this program will translate into developments that can be incorporated into the commercial products now being developed by Global at our Calgary fuel cell lab.'' It was also announced that the Board of Directors of Global Thermoelectric Inc. has appointed Jim Perry, President, as Chief Executive Officer of the Company, effective April 1, 1999. Global Thermoelectric Inc. is the world's largest supplier of thermoelectric power generation equipment for use in remote locations, and is now ramping up production of crew compartment heaters for use in military vehicles. The Calgary-based company is also quickly becoming a world leader in the fuel cell development industry. %SEDAR: 00002531E -0- 03/31/1999 /For further information: Jim Perry, President; Larry Kyle, Chief Financial Officer or Jim Lumsden, VP - R&D at (403) 236-5556/ (GLE.)