Innovative Steam Technologies

What Innovative Steam Technologies does

Innovative Steam Technologies (IST), founded in 1992 and headquartered in Cambridge, Ontario, designs and manufactures Once Through Steam Generators (OTSGs) — drumless heat recovery units that capture waste heat from gas turbine exhaust to produce steam for power generation and industrial processes. The company originated from OTSG technology developed at Solar Turbines in the 1980s, which two Ontario entrepreneurs acquired in 1992. IST sells primarily to enterprise customers across two verticals: power generation utilities and independent power producers (combined cycle, cogeneration, Gas Turbine Injection for power augmentation and emissions control) and oil & gas operators in enhanced oil recovery and SAGD applications. Its flagship product, the patented SQ90 OTSG, produces up to 90% steam quality for EOR and is protected by patents in the USA, GCC, and Canada. The company also offers Emission Control Systems (SCR and CO reduction) for gas turbines up to 100 MW and aftermarket services spanning repairs, retrofits, inspection, and performance analysis.

IST operates a 96,000 square foot dedicated manufacturing facility in Cambridge, Ontario with ASME S, U, and PP certifications and CWB-approved welding capabilities. To date, the company has sold over 230 units across 19 countries on six continents, with named installations including Shell's Appomattox platform, Calpine, TransAlta, Black Hills Energy, PDVSA, Sherritt Power, and the Greater Toronto Airports Authority. Contract sizes range from approximately $3 million for single units to over $33 million for multi-unit awards. The company sells directly to end customers, through engineering and construction firm partnerships (SNC-Lavalin, Tecnicas Reunidas, Equinox Engineering), and via a reciprocal sales agreement with Macchi of Italy covering Europe and the Middle East. In 2018, IST was acquired from receivership by Propak Systems Ltd. and now operates as a division of that parent, with Jim McArthur serving as President since 2017 and founder-employee Robert Dautovich as Vice Chairman.

Name

Innovative Steam Technologies

Legal name

Innovative Steam Technologies Inc.

Website

https://otsg.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

51–100 employees

Short description

Innovative Steam Technologies, founded in 1992 and based in Cambridge, Ontario, designs and manufactures Once Through Steam Generators (OTSG) for power generation utilities and enhanced oil recovery operators, with over 230 units installed across 19 countries and operating as a division of Propak Systems Ltd.

Ownership category

akta.pro rank

Product category

Industrial Heat Recovery Steam Generators

NAICS

Power Boiler and Heat Exchanger Manufacturing (33241)

SIC

Fabricated Plate Work (Boiler Shops) (3443), Engines & Turbines (3510), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Industrial Boilers, HRSGs & Steam Generators (IMAHAFAF)

akta.pro secondary industries

Heat Transfer Equipment (Heat Exchangers, Boilers, Condensers) (IMAHAEAC), Gas-Fired Steam Turbine (Boiler-Fired) Generation (EUACABAF), Industrial Steam Systems Decarbonization (Boiler Upgrades, Condensate Recovery, Steam Optimization) (EUABAJAK)

Keywords

• Heat recovery steam generators
• Once through steam generators
• Power generation equipment
• Enhanced oil recovery systems
• Industrial emission control

Headquarters

HQ city

Cambridge

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. OTSG Unit Sales: Design, manufacture, and supply of Once Through Steam Generator units for power generation and enhanced oil recovery applications. Contracts range from millions to over $33 million for single awards. Revenue recognized upon delivery and installation.
2. Aftermarket Services: Boiler engineering and field services including upgrades, retrofits, repairs, erection assistance, start-up and commissioning. Boiler inspection services, performance analysis and modeling, process control upgrades. Services for all makes of HRSGs and OTSGs including EOR and WHB units.
3. EOR/SAGD Systems: Specialized steam generation systems for Enhanced Oil Recovery and SAGD operations. SQ90 technology for 90% steam quality. Units designed for oilsands applications producing 1100+ barrels of oil per day.
4. Emission Control Systems: SCR systems and CO reduction catalyst systems for gas turbines up to 100MW. Selective Catalytic Reduction converts NOx into harmless nitrogen and water.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Innovative Steam Technologies designs, manufactures, and supplies Once Through Steam Generators (OTSGs) that recover waste heat from gas turbine exhaust to produce steam for power generation and Enhanced Oil Recovery (EOR/SAGD) applications. The company also produces Emission Control Systems (SCR/CO reduction) and provides aftermarket services including retrofits, inspections, and performance analysis. Operations are based at a 96,000 sq ft manufacturing facility in Cambridge, Ontario.

Product overview

Innovative Steam Technologies (IST) offers a portfolio of Once Through Steam Generator (OTSG) products, which are drumless heat recovery steam generators that recover waste heat from gas turbines. The core product line includes the SQ90 OTSG (producing 90% steam quality for Enhanced Oil Recovery), standard OTSGs for Combined Cycle and Cogeneration applications, Gas Turbine Injection (GTI) systems for power augmentation, and Emission Control Systems (SCR/CO reduction). The products are manufactured at the Cambridge, Ontario facility and supported by comprehensive aftermarket services including repairs, inspections, and performance analysis. The company operates as a division of Propak Systems Ltd. following acquisition in 2018.

Differentiator

Problem solved

Functional benefit

Brands

• SQ90: Next generation OTSG technology producing up to 90% steam quality using rifled pipe technology, designed to increase oil production while decreasing operating costs.

Products and services

• Once Through Heat Recovery Steam Generator (OTSG) Drumless steam generator that recovers waste heat from gas turbine exhaust to produce steam for power generation and industrial processes. Features modular manufacturing enabling faster installation (48 weeks vs 60 weeks for conventional drum-type generators), run-dry capability via alloy steel tube bundles, flexible cycling from 0% to 100% capacity, no blowdown systems, and approximately 50 fewer I/O points for reduced maintenance. Sold to utilities, IPPs, and engineering firms.
• SQ90 Once Through Steam Generator Patent-protected OTSG variant using rifled pipes adapted from high-pressure boiler technology, producing up to 90% steam quality for Enhanced Oil Recovery (SAGD) applications. Delivers more separated steam from less water, lower fuel consumption, reduced greenhouse gas emissions, significant reduction of blowdown and handling costs, and reduced water treatment costs. Patents secured in USA, GCC, and Canada.
• Fired Once Through Steam Generator (EOR) Patented fired OTSG design with efficiency up to 90%, burner duty from 5 to 300+ MMBtu/hr, operating pressures to 2500 psi, designed to ASME Section I and API specifications. Used for Enhanced Oil Recovery and SAGD applications producing 1100+ barrels of oil per day.
• Emission Control Systems (ECS) Selective Catalytic Reduction (SCR) and Carbon Monoxide (CO) reduction systems for gas turbines up to 100MW. Includes gas turbine outlet expansion joint, outlet stack, and silencers, with multi-pollutant control covering NOx, CO, VOC, aqueous and anhydrous ammonia systems. Modular design reduces footprint by approximately one-third compared to traditional units.

Quantifiable outcome

• Up to 90% steam quality (SQ90 technology)
• +8 more outcomes

Named customers25 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered flagship and core.

• Propak Systems Ltd.flagshipStrategic or Co-development Partner · 2 July 2018Propak Systems Ltd. acquired IST's assets from receiver in 2018. IST restarted operations as a division of Propak. Propak is one of the largest builders in Canada of fully modular energy processing facilities and equipment. IST operations are supported by Propak's extensive manufacturing and engineering capabilities.
• Macchi (Sofinter S.p.a.)coreStrategic or Co-development Partner · 18 July 2007Cooperation agreement with Macchi, a division of Sofinter S.p.a., to offer combined services in North American, European and Middle Eastern markets. Macchi is a leader in fired industrial boilers for Oil/Gas and Petrochemical sectors. IST supports Macchi's sales in North America; Macchi supports IST's sales in Europe and Middle East. Companies work together to develop joint bids with scope assigned based on product ownership - OTSGs by IST, fired industrial boilers by Macchi.
• Equinox Engineering Ltd.coreImplementation/ SI/ Consulting PartnerIST worked with Equinox Engineering Ltd. as the purchaser of equipment and engineer on the first EOR/SAGD project in Alberta oilsands for Serrano Energy. Equinox served as intermediary between IST and end customer.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Regional players

• Forbes Marshall: India-based steam engineering and boiler specialist serving process industries with steam generation and control equipment; comparable steam-system technology scope to IST but primarily serving South Asian industrial customers rather than IST's North American / European power gen base.

Direct peers

• Balcke-Dürr (SPX Technologies): Supplies heat exchangers, condensers, and HRSG cooling/heat transfer components used in combined-cycle power plants; competes with IST on engineering scope and after-market retrofit work for power generation customers.
• Nooter/Eriksen: Custom designer and fabricator of heat recovery steam generators (HRSGs) for the combined-cycle power market; competes head-to-head with IST's OTSGs on gas-turbine-driven steam generation projects for utilities and IPPs.
• Vogt Power: Supplies heat recovery steam generators and industrial boilers for utility, cogen, and process customers; directly comparable product portfolio and customer base to IST's combined cycle and cogeneration OTSG lines.
• Optimus Industries (Borsig/HangXiang-affiliated): Manufacturer of Once Through Steam Generators for combined-cycle and cogen plants; offers a drumless OTSG design that competes directly with IST in the same gas-turbine exhaust heat recovery application.
• TEi Thermal Engineering International: Designs and manufactures heat transfer equipment including waste heat boilers and HRSG components for power and process industries; comparable custom-engineered scope to IST's OTSG and EOR product lines.

Broad incumbents

• Babcock & Wilcox (B&W): Established supplier of industrial boilers, HRSGs, and emissions-control systems to power generation and industrial customers; overlaps with IST's combined-cycle, cogeneration, and emissions control offerings but at significantly larger scale.
• CMI Energy: Global industrial group with heat recovery steam generators, biomass boilers, and process heat equipment serving power and industrial markets; competes with IST on HRSG/OTSG tenders and has broader scale and product breadth.

Others

• Propak Systems Ltd. Parent company of IST since the 2018 acquisition; one of Canada's largest builders of modular energy processing facilities. Provides IST with manufacturing, engineering, and capital scale, but is also a sister-operating entity whose modular processing scope can overlap with IST on integrated EOR packages.

Emerging players

• Macchi (Sofinter Group): Italian manufacturer of fired industrial boilers for oil & gas and petrochemical sectors; IST's reciprocal commercial partner in Europe/Middle East and adjacent product set (fired boilers vs IST's heat recovery OTSGs), so a partner rather than direct competitor but increasingly co-bidding with IST.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ist_otsg
• LinkedInlinkedin.com/company/2538542

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Innovative Steam Technologies