NEWS RELEASE October 25, 2005
First American Scientific Corp (FASC – OTCBB) announces signing of exclusive agreement to license KDS technology in Japan
Vancouver, BC: Brian Nichols, President of First
American Scientific Corp. (FASC) is pleased to announce the signing of an
exclusive license agreement for manufacturing and marketing the KDS System in
Japan with JP Steel Plantech Co.(SPCO) of Yokohama, Japan.
JP Steel Plantech Co. is a well established
engineering company formed in 2001 by four
Japanese steel industry giants ; Kawasaki Heavy Industries (KHI), Hitachi Zosen
(Hitz), JFE Engineering (JFE) and Sumitomo Heavy Industries (SHI). The alliance was created by consolidating
the resources of these four major Japanese integrated iron and steel plant
equipment manufacturers to lead the world in production technology and product
quality. Their corporate mission is to contribute to the development of the
world’s steel industries, as well as the protection of the global environment. As
the exclusive KDS licensee in Japan, they will marshall world-class iron and
steel engineering resources and state-of-the art environmental technologies to
ensure the successful launch of our marketing efforts in Japan.
A market analysis prepared by JPSPCO concluded that
there is significant need for the KDS technology in Japan, particularly in the processing
of biomass for the production of energy and in other areas. SPCOs decision to represent the KDS in Japan
has been thoroughly researched in a due diligence process that lasted well over
one year. We are confident that this agreement will bring significant success
for both parties.
The first step will be to install a fully
operational KDS processing facility in Yokohama to be used for sales demonstrations
and research purposes. One KDS model JS-6 has been sold to the alliance and is
now being constructed to Japanese standards. This first plant is expected to be
fully operational by early 2006.
According to Brian Nichols, “we are absolutely
convinced that SPCO is the right company to do the job of introducing the KDS technology
to Japan and to achieve the maximum results. They have shown they have the
desire, the expertise and the resources to succeed. We are most fortunate to
have the opportunity to work with a group with such exemplary credentials and
are extremely optimistic about the future success of the KDS in Japan.”
This is FASCs third sale of KDS equipment in Asia, where
one system in full production at a biomass power plant in Malaysia, and a second
is planned for delivery to South Korea later this year. Please refer to our web
site for further details.
Certain information and statements
included in this release constitute forward-looking statements within the
meaning of the Federal Private Securities Litigation Reform Act.
ON BEHALF OF THE BOARD OF DIRECTORS
C. Kantonen, Chairman
FASC: (NASD Bulletin Board) Web Site: www.fasc.net
Contact:
Investor Relations – Market Smart Communications Inc. 877-261-4466