International Automated Systems' New Breakthrough for Low-Cost Electricity and Hydrogen Production Yields Test Results
SALEM, Utah--(BUSINESS WIRE)--Feb. 25, 2002--After 12 months of testing, International Automated Systems Inc. (IAUS.OB) (``IAS'') Monday announced test results from its new breakthrough technology, a propulsion turbine, which some believe may revolutionize electrical power generation and low-cost hydrogen fuel production.
Test results are from actual on-site tests by the company at various geothermal power plant facilities. When operating at hot water temperatures of 300-500 degrees F and 100-700 psig, using either single phase or bi-phase flow, conservative numbers show that IAS' turbine can produce a minimum of 20 percent more power than today's expensive multi-stage turbine under the same conditions.
Because of its unique design, IAS' turbine can be manufactured at one-tenth of the cost of traditional turbines. Unlike traditional turbines, IAS' design also includes a unique ceramic shield, which thermally insulates and protects the turbine from corrosion and sediment build up. Tests have indicated that IAS' turbine will offer unprecedented low-cost, low-maintenance energy production.
IAS has been in discussions over the past several months with various utility companies, power producers, and industry consultants to decide how to best introduce the new technology into the industry.
According to the International Energy Agency, the world currently consumes approximately 13 trillion kilowatt hours of electricity annually. Power industry experts predict that, based upon a 2-3 percent per annum increase over the next 10-20 years, more than $3 trillion in present dollars (not accounting for inflation) will be needed to build plants sufficient to meet the world's growing needs. This $3 trillion does not include the cost of transmission and distribution networks.
``We are excited about the results,'' said Neldon Johnson, president and chief executive officer of International Automated Systems. ``We believe this breakthrough will change the landscape of energy production. It makes renewable energy resources such as solar thermal and geothermal an economical source of the world's electricity and hydrogen fuel. We are focused on implementing the technology as quickly as possible.''
International Automated Systems Inc. develops high-technology products designed for increasing business efficiency, transactional security and access control. Visit the company's Web site at www.iaus.com.
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