Plans for Arizona Solar Energy Plant

June 27, 2003 [] International Automated Systems (IAS) has signed a letter of intent with Titanium Resources, Alberta, Canada (TRC) to design, build, install and operate the world’s first solar heat collection system, bladeless turbine and ancillary systems. TRC will own and operate the US$360 million solar electric plant constructed by IAS. The plant will operate year round at a site in Arizona, and will be placed in service by the end of 2004.

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