Global Thermoelectric Joins with Suburban Propane

August 23, 2001 by Jeff Shepard

Global Thermoelectric Inc. (Canada) announced that Global and Suburban Propane LP (Suburban, Whippany, NJ) have signed a Memorandum of Understanding (MOU). This MOU establishes the first strategic alliance in North America to develop and distribute SOFC power products in propane markets.

"We expect the alliance of Global and Suburban will accelerate the commercialization of our fuel cells," stated Jim Perry, Global's president and CEO. "We plan to grow our fuel cell business by first targeting so-called early adopters of fuel cell products. Propane distributors are the key to accessing these markets, and through partnerships with groups like Suburban we expect to have a strong presence in such markets."

"Fuel cells are a natural expansion of our business and should provide Suburban with a distinct advantage in our markets as well as increase the throughput of propane," stated Mark Alexander, Suburban's president and CEO. "Having evaluated many of the technologies and technology vendors, we came to the conclusion that Global's fuel cells fit best with propane and our customers' needs."