- IST’s core technology of Once Through Heat Recovery Steam Generators (OTSGs) was developed by a researcher from Solar Turbines in the late 80s named Tom Duffy.
- Tom believed that there was a better way to make steam than using conventional boiler technology which was largely unchanged for 100 years. This provided the start for IST.
- In 1992, two Ontario entrepreneurs, Nichols and Radtke entered into a deal to acquire the technology.
- In 2000, IST established a European sales office and booked its first European order.
- In 2009, IST expanded its product line to include Enhanced Oil Recovery (EOR) OTSGs and filed for a patent on an improvement to existing technology to produce 90% quality steam (SQ90™).
- In 2011, IST designs and manufacturers their 1st EOR 25 MMBtu trailer units and the 70th LM6000 application is completed.
- In 2018, Propak Systems Ltd. (PSL) purchases IST’s assets from receiver, and IST restarts operations as a division of PSL.
- To date (2019), IST has sold over 230 units in 19 countries around the world.