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IST awarded two contracts totaling more than $14 million

Toronto, Ontario - June 3, 2009:

Innovative Steam Technologies (IST), has been awarded two contracts valued at over $14 million to supply Once-Through Steam Generator (OTSG) units to Altek Alarko Elektrik in Turkey and STC Spa in Italy.

Under the terms of the first contract, IST will design and supply two OTSG units to Altek Alarko Elektrik, an energy generation company in Kirklarelli, Turkey, near the Bulgarian border. The two OTSGs will recover waste heat from two 27MW gas turbines at the Kirklarelli plant. The units are scheduled for an October 2009 delivery.

“Altek Alarko Elektrik is a repeat customer for IST. They now possess four OTSGs,” said Bob Dautovich, President of IST. “The high standard and quality IST offers in every unit we manufacture is proven through such repeat business.”

Under the terms of the second contract, IST will design and supply two OTSG units to STC Spa, a power developer based in Italy. The units will recover waste heat from two 48MW LM6000 gas turbines at the Tamarete Combined Cycle plant located in Ortona, Italy. These two units are IST’s third and fourth units in Italy. The OTSGs are scheduled for a December 2009 delivery.

“These contracts brings IST’s total sale of OTSG units to 145 units in 18 countries and six continents,” said Bob Dautovich. “OTSG technology improves the efficiency of its customers’ power plants and is better for the environment in comparison to many power generation sources. IST’s product advantages are driving sales of these units.”