February 24, 2009
International Automated Systems’ (IAUS) New Solar Technology and Bladeless Steam Turbine Set to Revolutionize Industry
February 24, 2009, Salt Lake City, UT – INTERNATIONAL Automated Systems, Inc. (IAS : IAUS.PK) and RENEWABLE Energy Development Corporation (REDCO), are pleased to announce that REDCO will be working with IAS to purchase IAS’s solar panels and new bladeless turbine for utility-scale solar projects.
After completing its due diligence of the IAS technology that included a thorough analysis of the independent engineering review of IAS’s new solar panels and turbine, REDCO has concluded that the IAS technology is commercially viable.
The third party engineering review was conducted by reputable engineers with Ph.D. and M.S. degrees in Physics, Mechanical Engineering and Nuclear Engineering from prestigious Universities such as M.I.T., U.C. Berkley, U.C. Davis, and DePaul. Collectively, these scientists have many years of accumulated specialized expertise in optical engineering and efficiency, thermal dynamics, combustion stability, liquid rocket engine performance, system optimization, mechanical and fluid systems analysis, solid and gel propellant performance, structural dynamics, rotating machinery and vibration with application to turbine blade rubbing. This review supports that the IAS’s bladeless turbine and solar panels meet and in some cases exceed all performance and efficiency projections. Perhaps the most telling outcome of this independent engineering review was the conclusion that the IAS bladeless steam turbine can operate as a part of an overall closed loop system or as a stand-alone component.
The composite analysis also supports that compared to other solar technologies the IAS technology has a higher overall annual efficiency factor than photovoltaic (PV), traditional concentrated solar power (CSP) such as towers and troughs, and is better or comparable to CSP dish technology. The net conclusion is that based on the functionality and the low-cost design, an IAS solar thermal power plant needs to convert only 5% of the gross annual solar energy hitting its panels to electricity in order to compete with the lowest priced solar technology available today. An IAS solar thermal power plant has an annual solar-to-electric efficiency of nearly 24%.
Ryan Davies, President & CEO of REDCO said, “I am excited to work with IAS and we anticipate building many solar power plants using their technology. After careful analysis of their technology and of the independent reviews conducted verifying their projections, I believe that the IAS technology is unique, revolutionary and ready for commercial application. I believe that the IAS turbine combined with their solar panels and heat exchanger will produce reliable solar energy at a fraction of the cost of traditional solar.”
Mr. Davies is no stranger to new technology and emerging businesses. He has had a successful career as an entrepreneur and businessman, starting Found, Inc in 1997, which later sold to CRS Retail Systems for $110 million; starting O2 Blue in 2001 which later sold to Prebon Energy and as the founder of REDCO, a privately financed renewable energy development company. Mr. Davies has raised over $50 million in private equity throughout his career. REDCO indicated that it will soon announce its first of several commercial solar energy projects – all of which will use the IAS solar technology.
REDCO – REDCO is a privately held company with offices in Utah. For more information, visit their website at: www.renewdevco.com.
IAS – IAS is a publically traded company with offices in Utah. For more information, visit their website at: www.iaus.com.
Note: Statements contained in this 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.