IST’s core technology of Once Through Heat Recovery Steam Generators (OTSGs) was developed by a researcher from Solar Turbines in the late 80s named Tom Duffy.
Tom believed that there was a better way to make steam than using conventional boiler technology which was largely unchanged for 100 years. This provided the start for IST.
In 1992, two Ontario entrepreneurs, Nichols and Radtke entered into a deal to acquire the technology.
IST’s current president, Bob Dautovich was hired as engineering manager to transfer technology and start building a team. Key members of the current management team joined shortly after.
In 2000, IST established a European sales office and booked its first European order.
In 2009, IST expanded its product line to include Enhanced Oil Recovery (EOR) OTSGs and filed for a patent  on an improvement to existing technology to produce 90% quality steam (SQ90™).
In 2010, IST starts a new company, Found Energy, that will operate in the renewable energy sector whose mandate is to produce electricity from waste heat.
In 2010, IST signed a fabrication partnership agreement with United Engineering Services in Oman to support the EOR business in the Middle East.
In 2011, IST designs and manufacturers their 1st EOR 25 MMBtu trailer units and the 70th LM6000 application is completed.
To date (2012), IST has sold over 190 units in 19 countries around the world.

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