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IST awarded two contracts totaling $8 million

Toronto, Ontario - October 1, 2008:

Innovative Steam Technologies (IST), has been awarded two contracts totaling $8 million to supply its Once-Through Steam Generator (OTSG) units to clients in Turkey.

The first contract calls for the design and supply of an OTSG unit for the Ataer industrial zone in Izmir, Turkey, a holiday town on the Agean coast. The project is scheduled for a September 2009 delivery.

Under the terms of the second contract, IST will supply an OTSG unit to Ugur Enerji in Cerkezkoy, Turkey. The OTSG unit will operate in a cogeneration mode, producing steam energy for the textile industry in Turkey. This is the second OTSG module IST has provided for the Cerkezkoy industrial area in Turkey. The project is scheduled for a July 2009 delivery.

These new contracts represent the ninth and tenth OTSG units supplied by IST to clients in Turkey.

“Turkey has become an important market for us as we continue to expand our services internationally,” said Bob Dautovich, President of IST. “We’re very pleased to have been awarded these new contracts, and we look forward to future opportunities to provide services to other clients in the region.”