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

To: AriKirA who wrote (574)	4/17/1999 8:41:00 AM
From: Sam	Read Replies (1) \| Respond to of 6016

I believe Ballard and mercedes/chrysler were dragging their feet on this technology by saying it wouldnt be ready to put in cars untill 2007,,I bet the new competition will speed things up considerably.....who will be first on the street ,something tells me now that GM will pull out all the stops to be first ,This competition will be good sam

To: AriKirA who wrote (574)	4/17/1999 9:03:00 AM
From: Mark Kubisz	Respond to of 6016

Thanks AriKirA. Here is the full text of an article on Global Thermoelectric on the same page as a large article about Ballard Powersystems from today's Globe and Mail. Note that the decision to withhold the value of the deal was made not by our company, but "at Delphi's request." If anyone could post articles on GLE from the Toronto Star or any other major daily that would be much appreciated. Global Thermoelectric shares soar on sale Canadian Press, Calgary Shares in Global Thermoelectric Inc. got a massive boost yesterday after the fuel cell developer announced a sale to Delphi Automotive Systems. The value of the "purchase order as an initial commitment" from the giant parts-making concern being spun off by General Motors was not disclosed at Delphi's request, said president and chief executive officer Jim Perry. Global Thermoelectric shares, which had opened the day at $3.60, were jolted as high as $16 [sic] and closed at $10.70 on the Toronto Stock Exchange. The Calgary-based power generator company is working on a solid oxide fuel cell system, seen as an environmentally clean way of combining oxygen and hydrogen to produce electricity with water as a byproduct. Global Thermoelectric, which originated as a maker of generating equipment for remote sites and also produces heaters for U.S. military vehicles, said it intends to negotiate an agreement with Delphi covering its entrie solid oxide fuel cell project. In the meantime, the initial purchase allows Global to start work immediately.