This is what the company needed. We believe this type of fuel-cell technology has significant advantages in the home. Under the deal, Enbridge will take cumulative redeemable convertible preferred shares that can be converted into common stock. Through its subsidiary Enbridge Consumers Gas, the energy firm owns and operates the country's largest natural gas distribution system. It also distributes electricity.
Fuel cells produce energy through electrochemical reaction instead of combustion.
Global's technology is capable of running on natural gas or gasoline in vehicles by using a simple and inexpensive reformer and is said to be more efficient than some other technologies because its cell operates at a higher temperature. Mr. Perry said Global is optimistic that Enbridge will also help the small Calgary firm to establish partners in the United States, where the cost of electricity in some parts is skyrocketing. He said discussions with some companies are already underway. The economics are best where you have high electricity prices and lower gas prices. Field testing is to begin next year.