Skip to main content

IST secures two contracts totaling $17 million

Dec 21, 2007

Toronto, Ontario – December 21, 2007: Aecon Group Inc. (TSX: ARE) announced today that its wholly-owned subsidiary, Innovative Steam Technologies (IST), has been awarded two contracts totaling $17 million to design and supply an emissions control system and four Once Through Steam Generator (OTSG) units. 

Under the first contract, awarded by Waterbury Generation LLC of Hartford, Connecticut, IST will supply a Selective Catalytic Reduction (SCR) system and Carbon Monoxide (CO) reduction catalyst system, to be applied to the exhaust of the new GE 96 MW gas turbine. This marks IST’s first project to supply an emissions control system to a client who does not require an OTSG unit.  The SCR system converts nitrogen oxide emissions into harmless nitrogen and water, while the carbon system coverts carbon monoxide into carbon dioxide. The system is scheduled to be delivered in August 2008.

 In the second contract, awarded by Aksa Enerji Uretim A.S. located in , IST will design and manufacture four OTSG units for a 240MW combined cycle plant which is part of a larger 1000MW energy facility being built in the city of . This will be IST’s third project in and is scheduled to be delivered in December 2008.

“We are extremely pleased to have been awarded these contracts,” said , President of IST. “The  contract represents a significant new product line for IST, and the Aksa contract further cements our position in an important part of the world market”.

”It’s been a very successful year for IST.  We’ve sold 15 units – our second highest sales total ever,” Dautovich said.  “This sets us up well for a strong 2008, and brings our total sales to 122 OTSG units in 15 countries world-wide.“

Innovative Steam Technologies is the world leader in the design and fabrication of once through steam generators and is a wholly owned division of Aecon Group Inc. Aecon is's largest publicly traded construction and infrastructure development company. Aecon and its subsidiaries provide services to private and public sector clients throughout and internationally.