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

To: bugssy who wrote (2106)	5/31/1999 1:54:00 PM
From: pink789	Read Replies (1) \| Respond to of 6016

Calgary, Alberta, May 31, 1999 — Global Thermoelectric Inc. (TSE: GLE) today announced that it has received a letter of intent for a $19 million contract to supply thermoelectric generators and related equipment and installation services for the Gas Authority of India Limited. Timing of commencement of deliveries is yet to be finalized, but will probably start early in 2000. “This contract is the largest ever awarded to Global”, said Jim Perry, President and C.E.O. “Previously, our biggest single generators contract was the $3.2 million project we did for the Gas Authority of India in 1997.” The contract covers the supply of thermoelectric generators to provide electrical power for cathodic protection and telecommunications systems for a major new LPG pipeline that will be constructed from Jamnagar on India's Arabian Sea west coast more than 1,100 km to Loni, near Delhi. In addition, Global will construct mounting pads and install the generators along the pipeline. Global Thermoelectric Inc. is the world's largest supplier of thermoelectric power generation equipment for use in remote locations, and produces 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. For more information please contact Jim Perry, President and C.E.O. or Larry Kyle, Chief Financial Officer at (403) - 236 - 5556.

To: bugssy who wrote (2106)	5/31/1999 3:38:00 PM
From: Sleeperz	Read Replies (1) \| Respond to of 6016

A possible JV yes. An acquisition by Delphi, Definitely not, hopefuly not, or at least not now. Maybe when GLE is earning lots of money from their SOFC and the stock is trading at $50 after splitting 10 times. Delphi shareholders want to see earnings not more money thrown at R&D with little earnings in the short term. CL gle and delphi are definetly working on the sofc fuel cell together which makes them a possible joint venture or an acquisition. one of the two will prevail. i have talked to gle and they have been given a work order by delphi to build the sofc fuel cell. delphi is not just in auto parts they all so have a technology sector which gle would fit into quite nicely.