Re: MEC

Mark,

Steve's comment has many merits. I think Stinson Gibner and Grant Masson
(physics Ph.D.'s) can help to identify
academic and industry sources to validate some of the claims.

On the other hand, even if our guests were wrong by a factor of 2 or 3 in
their time estimates, the technology
they develop will bring about a technological revolution with enormous
potential payoffs. It make sense to
stay close to them and to explore potential investment opportunities.

Vince

Steven J Kean@EES
07/26/2000 05:11 PM
To: Mark Lay/HOU/ECT@ECT
cc: Rex Shelby/Enron Communications@Enron Communications@ECT, Mike
McConnell@ECT, Vince J Kaminski/HOU/ECT@ECT, Philippe A Bibi/HOU/ECT@ECT,
Kenneth Lay/Corp/Enron@ENRON@ECT, Fabricio Soares/HOU/ECT@ECT
Subject: Re: MEC

I think it would be useful to verify their view that they are really only 2-3
years from commercial production. Ideally, we could get that confirmation
from someone familiar with the technology but without any financial interest
in its success. Their technology pitch sounded good, but I don't know enough
to recognize the potential shortcomings. I want to feel comfortable that you
all feel this is real, then I would be happy to have me and my team spend
some time with them.

To: Rex Shelby/Enron Communications@Enron Communications, Steven J
Kean/HOU/EES@EES, Mike McConnell, Vince J Kaminski/HOU/ECT@ECT, Philippe A
Bibi/HOU/ECT@ECT
cc: Kenneth Lay/Corp/Enron@ENRON, Fabricio Soares/HOU/ECT@ECT
Subject: MEC

Thank you for participating in yesterday's meeting. We spoke with Harvey and
Jim after the meeting and they took to speed to market comments to heart.
There is an opportunity for Enron to participate with MEC in the early
development of their company, but it seems the one thing they want is the one
thing we also want, people. I would appreciate your thoughts and comments on
the possiblity of creating a small team that could work directly with MEC as
part of a potential investment and strategic relationship. Given our
resource constraints, this would most likely be part of the organization that
sees the greatest strategic impact from MEC's development.

Mark
x37408