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

To: WhatsUpWithThat who wrote (544)	4/16/1999 6:45:00 PM
From: AriKirA	Read Replies (1) \| Respond to of 6016

Leading the World in Remote Power Puts Global Thermoelectric Inc. in the Spotlight with a 1998 Canada Export Award Global Thermoelectric Inc., the world's leading supplier of thermoelectric generators for remote power applications, continues to expand its international business even though it already supplies over 95 per cent of thermoelectric generators sold worldwide. Global's thermoelectric generators are recognized worldwide as the most reliable and economic power source for remote applications. Now, the Calgary, Alberta company is shifting its attention to developing new emerging foreign markets for its line of products, and it has paid off dramatically. Over the last two years, Global has won major contracts in India, Argentina, China, Brazil, Thailand and Indonesia, bringing its roster of export clients to 46 countries on all seven continents, including Antarctica. True to its name, Global Thermolectric is indeed a global power. Global's president Jim Perry says that developing new and better products and technologies is what drives the ISO 9002-certified company. In 1998, Global had sales of more than $14 million, an 86-per-cent increase over 1997, with 72 per cent coming from exports. Global has also made significant gains in creating jobs and now has 96 full-time employees, an increase of 57 per cent over the last three years. In recognition of Global Thermoelectric's outstanding success in global markets, the company was presented with a 1998 Canada Export Award by Minister for International Trade Sergio Marchi at a special ceremony in Calgary, Alberta, on October 5, 1998. The Canada Export Award honours Canadian companies that have excelled in exporting their products and services to countries around the world. From 233 applicants this year, 10 companies received the sixteenth annual award. Under the theme Partners In Trade, Canadian Imperial Bank of Commerce (CIBC), Export Development Corporation (EDC) and Teleglobe Inc. are official sponsors of the 1998 Canada Export Awards, which are presented by the Department of Foreign Affairs and International Trade. Maclean Hunter Publishing Limited is the official media sponsor of the 1998 Canada Export Awards. "In addition to our core thermoelectric generator business we achieved a major breakthrough in landing an $18-million contract to supply vehicle heaters to the U.S. Army," says Perry. "We won the contract going head-to-head against two large U.S. companies. We will begin shipping heaters this month (August 1998) and we have orders for 2137 units. At $4000 each, this business represents a significant new source of revenue for us." A major item for Global is fuel cell technology, which Perry sees as the next generation of electric power generation products. Last year, Global reached a major milestone with the signing of a licensing agreement with Forschungszentrum Jülich of Germany, one of only a few organizations in the world that has developed significant expertise in the design and construction of a solid oxide fuel cell (SOFC). "This is the most ambitious R&D project we have undertaken to date, and we're now moving ahead to commercialize this unique technology," Perry adds. Global has also signed a contract with the Alberta Research Council of Edmonton to do initial investigation into the various options that might be practical for volume production of SOFCs. And down the road, Global will be targeting SOFC products for telecommunications and cable television applications. "The telecommunications remote power market is growing rapidly, especially in developing countries where cellular technology is being introduced into areas with little in the way of infrastructure," explains Perry. The Web site for Global Thermoelectric is: www.globalte.com For more information, contact: Andrée Mongeon Media Relations Canada Export Awards (613) 276-2044 e-mail: markant@intranet.ca © Department of Foreign Affairs and International Trade, April 1999 infoexport.gc.ca