International Automated Systems, Inc. [IAUS.OB] Signs Contracts for its Patented Turbine and Solar Collection System
SALEM, UTAH- International Automated Systems, Inc. [IAUS.OB] ("IAS") announced today that it has signed contracts to build three power plants using IAS's patented propulsion turbine and solar thermal heat collection system. The locations and sizes of the three plants are currently undisclosed, however, IAS has already received permission to build the first plant by local development and zoning committees. The initial phase of construction should be in progress before December of 2003.
IAS's patented Propulsion Turbine is a bladeless turbine that can be produced for much less than existing expensive multistage turbines and offers improved performance. Unlike traditional high-end turbines, IAS's turbine can be driven by low quality steam using either single phase or BI-phase (steam + water) flow. By the very nature of its design, many of the surrounding components become less expensive. Small to midsize power systems, which in the past have been cost prohibitive are now affordable for nearly any home or business.
About International Automated Systems, Inc. (www.iaus.com; IAUS:OB)
Founded in 1988, International Automated Systems, Inc., develops high-technology products for diverse markets such as energy production, wireless communications, consumer purchasing and financial transactions. The company, founded by a former AT&T communications engineer, is based in Salem, Utah.
Note: Statements contained in this press release that are not strictly historical are forward-looking within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements are made based upon information available to the company at the time, and the company assumes no obligation to update or revise such forward-looking statements. Editors and investors are cautioned that such forward-looking statements invoke risk and uncertainties that may cause the company's actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, demand for the company's product both domestically and abroad, the company's ability to continue to develop its market, general economic conditions, and other factors that may be more fully described in the company's literature and periodic filings with the Securities and Exchange Commission.