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Solar Power Breakthrough: IAUS Hits Milestone Previously Thought to Be Impossible Tuesday February 13, 11:35 am ET
SALEM, Utah--(BUSINESS WIRE)--International Automated Systems, Inc. (OTCBB: IAUS - News) announced today that it has successfully finished its first high-volume run of its new breakthrough solar panels. Nearly 1,000 Kilowatts of IAUS's solar panels were manufactured in a short 24-hour run. On a 24/7 operating schedule, an estimated 350 Megawatts of IAUS panels can be produced annually. In comparison, a traditional photovoltaic (PV) solar module manufacturing plant with a yearly capacity equal to IAUS would cost an estimated $840 Million to construct. ADVERTISEMENT
IAUS's unique thin-film solar lens can be produced at a fraction of the cost of today's traditional photovoltaic solar panels. IAUS believes its new product is the first solar power technology with legitimate potential to compete with gas and other fossil fuels in the immediate future. Low-cost energy produced by IAUS's new patented and patent-pending solar technology can be used to generate electricity or produce clean fuels such as hydrogen and green methanol (gasoline replacements) at a competitive price. Many experts had predicted that no solar power technology would likely accomplish this milestone before the year 2025.
IAUS plans to quickly expand its annual solar panel production capacity this year to 1 Gigawatt, which is enough to supply an estimated $2 Billion in sales per year.
"The discovery of economical solar energy is more valuable than oil," said Neldon Johnson, President and CEO of International Automated Systems, Inc. "The sun's energy is free, clean and virtually unlimited. IAUS's new solar technology is a discovery of historic proportions that we hope will revolutionize energy production throughout the world."
The world energy market is $3 trillion dollars per year. This $3 trillion does not represent nearly 30% of the world that exists without electricity.
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 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.
Contact: International Automated Systems, Inc., Salem Neldon Johnson, 801-423-8132
mo-rydr
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I just talked to the IR dept. Rep (Todd) using the phone number at their website IR page ( www.iaus.com ), they said that the shares sold on the Form 4's by company officers, were to raise capitol to set up for their current production capacity.
If you look at their last Form 10-QSB (11-30-2006) you'll see that they were low on cash and not yet in production.
They said that todays PR was to let everyone know that they are up and running. Their initial contract is for 100 Megawatts worth of solar panels, so you see by their PR that this is a sizeable order. And they are not worried about having plenty of orders logged by the time that they have filled this order.
They are very happy and confident with where they are at right now.
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