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

To: KodiakBear who wrote (1788)	5/8/1999 12:45:00 AM
From: marcos	Respond to of 6016

This one? - exchange2000.com A 'this subject only' search with 'bmw' brings up quite a few posts - exchange2000.com From the first one there - "Under the development agreement, BMW and Delphi are jointly developing a fuel cell system that will be used as an auxiliary power unit for gasoline engines. This will allow BMW to offer more features more efficiently with the potential to reduce the emissions of an internal combustion engine. Delphi will develop the fuel cell system and BMW will integrate the unit into a vehicle. The solid-oxide fuel cell unit will provide more energy into the vehicle to enhance the electrical systems. Delphi and BMW plan to produce the solid oxide fuel cell unit in the near future." I think some are forgetting that the only automotive use so far proposed for the sofc is as auxiliary power generation, not motive power. So it's not competing with bld's PEM at this point, and may never. Maybe there will be cars with both in them, PEM to make the wheels go round and SOFC to power the stereo. Or the other way around. Who knows, it's early yet.

To: KodiakBear who wrote (1788)	5/8/1999 12:54:00 PM
From: AriKirA	Respond to of 6016

Excellent post snoog! The PR you are referring to involves an alliance between GM and Toyota. In short, they concluded a five-year partnership to develop cars powered by fuel cells and other non-traditional fuel technologies. What is of interest here is the fact that said parties decided to develop their own automotive fuel-systems, thus excluding Ballard PEMs. Here is the integral text: General Motors Corp - GM General Motors and Toyota to collaborate on vehicles of the future Shares issued 753,008,273 1999-04-19 close $135 Monday Apr 19 1999 Mr. Harry Pearse reports General Motors and Toyota Motor Corp. have entered into a five-year collaboration to speed development of advanced technology vehicles in the 21st century. The companies have identified more than a dozen advanced vehicle and system projects potentially involving hundreds of engineers that will be researched together. The agreement calls for development of a common set of electric traction and control components for future battery electric, hybrid electric and fuel cell electric vehicles; batteries and battery test procedures, vehicle safety requirements, and continued work on improved inductive charging systems for battery electric vehicles; powertrain and control systems for next generation hybrid electric vehicles; and future systems design, fuel selection and processing to support production of fuel cell powered vehicles. The companies stressed that while the future for advanced technology vehicles is unclear, whatever technology is adopted must be widely available. GM and Toyota, by virtue of their global resources, are technological leaders in the auto industry and have more real-world experience with advanced vehicles than any other automakers. GM was the first to market with its EV1 electric car in 1996. Toyota brought the first hybrid to market with its Prius gasoline-electric compact car in 1997. It will go on sale in the United States and Europe next year. It is currently marketed in Japan. GM and Toyota have a long history of co-operative efforts, the most recent of which was an agreement in June of 1998, to develop an improved electric-vehicle inductive charging system based on the GM magne-charge technology. Since then, the goals for such a system have been met and sample production is under way. Interesting excerpt don't you think? GM and Toyota, by virtue of their global resources, are technological leaders in the auto industry and have more real-world experience with advanced vehicles than any other automakers Why would the technological leaders chose to exclude Ballards technology? Do they know something we don't? Is the SOFC technology better suited for such use? Now the last excerpt of the Ballard PR stated that the SOFC technology presented some problems with respect to the use of said fuel cells in the automative industry. One of the more serious problems was the temperature level (850). GLE seems to have found a way to significantly decrease said level. I am presuming that the PR was notably referring to the temperature level. Having said this, I find your post quite interesting. It made me realize that the major players decided to develop the SOFC technology instead of concluding a partnership with Ballard. Now, add the fact that Toyota's engineering system can take a new car design from concept to showroom in less than 4 years versus 5 to seven years for US companies and 7 years Daimler with the fact that Delphi, the world's largest automotive supplier, per its BMW press release, is committed to the quick implementation of the SOFC technology, this play is starting to look quite interesting for us, as investors and quite appealing for its competitors, as a potential partner or target. If I am not mistaken, it was mentioned on this thread that Ballard would have a very hard time meeting the respective time frame. Since, Ford and Chrysler don't have the resources of GM and/or Toyota and that GLEs potential partners might be willing to advance and invest the necessary amounts to ensure the development of the SOFCs in a very short time frame, one would have to favor GLE and the SOFC technology. Put yourself in Ballards position. What would you do? You have around 450 million in cash and short term investments as well as some partnerships with some major players. You have a market cap of approx $4,550,000,000 compared to a market cap of approx $130,000,000 for GLE. You see the possibility of acquiring a new technology at a reasonable price given the current stage of its development. Well, the obvious answer, is a take-over. However, since the insiders hold a little more then a 1/3 of the outstanding shares and given the interest of Delphi in GLEs technology (and the fact that the latter might already have a holding in GLE), one would have to think that they would have to come to an agreement with management before even trying a hostile take-over. Another option would be to take a % in the company. However, they would have to buy said shares on the open market and file the relevant documents if their position surpasses 10%. Any way I look at it, things are looking positive. I am willing to wait this one out. It might trade in the 7s,6s or even the 5s but are you willing to take the chance to miss out on a XXX% gain if a release is issued. Well, I would rather hold on to my shares for now! Kind Regards AK

To: KodiakBear who wrote (1788)	5/9/1999 9:30:00 AM
From: Daniel Chisholm	Respond to of 6016

Interestingly in the laast ntwo Fortune mag is a sort of on topic article especially since GLE produces generators for remote cities (which competes with Honda's gas generators) Which generators are you comparing here? As far as I know, GLE makes thermoelectric generators and Honda makes conventional gasoline powered generators (internal combustion engine driving a conventional alternator). Unless I've got the preceding sentence wrong, I don't think it's fair to say that these compete with each other, they are quite different in their applications. Chainsaws and pruning shears are both used to cut tree branches, but neither works well in the other's application. - Daniel