Aura, the Latest Residential Collection in Snowmass Base Village, Colorado, Installs SHARC Energy’s Wastewater Energy Transfer (WET) System to Reduce Carbon Footprint

Rhea-AI Summary

SHARC Energy (CSE: SHRC, OTCQB: INTWF) has announced the installation of its PIRANHA T15 WET system at Aura's 21 slope-side residences, which will operate entirely on renewable energy. The system captures thermal energy from wastewater, significantly reducing greenhouse gas emissions while providing energy savings. This marks the fourth SHARC installation in Colorado, aligning with the state's goal to cut carbon emissions by 90% from buildings by 2050. With nearly 30 systems installed globally, SHARC is poised to enhance its market presence in sustainable energy solutions.

Positive

• Installation of PIRANHA T15 WET system at Aura's 21 slope-side residences.
• System powered 100% by renewable energy, reducing greenhouse gas emissions.
• Alignment with Colorado's goal to reduce carbon emissions by 90% by 2050.
• Fourth installation of SHARC system in Colorado indicating market expansion.
• Approximately $4 output generated per $1 of energy used in the system.

Negative

• None.

VANCOUVER, British Columbia, Nov. 03, 2022 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the "Company"), a world leader in wastewater energy transfer (“WET”), is pleased to announce its PIRANHA T15 WET system will be installed in Aura’s 21 slope-side residences, powered 100% by renewable energy resources within the residential building. Aura’s team is led by East West Partners, a developer of high-end mountain resort communities, and supported by SHARC Energy’s Colorado distributor, LONG Building Technologies. It is anticipated this unit will ship in Q2 2023.

The PIRANHA WET system, best suited for stand-alone buildings, is an electrical hot water system that extracts thermal energy from wastewater and uses the energy to reheat the water used in the building. The WET system significantly reduces greenhouse gas emissions and provides energy and cost savings. The PIRANHA WET system is the first of its kind in the HVAC market and has redefined green building innovation, with every dollar of energy used to operate the system generating approximately four dollars of output.

Once completed, Aura will be the fourth installation of a SHARC system in Colorado, supporting the state’s goal of reducing carbon emissions by 90% from the building sector by 2050. SHARC Energy’s PIRANHA systems are installed in the Boulder Commons Phase II project, a 98,000-square-foot development consisting of offices and multi-family residential buildings and 30PRL Apartments, a 120-unit affordable housing project in Boulder. The SHARC series, an industrial-sized WET system is installed in National Western Center, an innovative 250-acre campus hub in Denver that will source nearly 90 percent of its heating and cooling from a recycled source of thermal energy and prevent 2,600 metric tons of carbon dioxide from being emitted into the atmosphere each year.

Lynn Mueller, SHARC Energy’s Chairman & CEO commented: “We are proud to support Snowmass Base Village and its latest project Aura in building ultra-efficient, all-electric homes that use 100% renewable energy sources resulting in zero on-going carbon emissions from the building itself. Our hope is that it will inspire other ski villages to utilize WET systems in their buildings to have a direct positive impact on the environment. We are also excited about our increasing footprint in Colorado, an important market for SHARC Energy, and globally, as developers realize the importance of recovering and reusing the thermal energy from wastewater to build Net Zero Energy buildings.”

There are nearly 30 SHARC and PIRANHA WET systems installed or in progress in the United States, Canada, United Kingdom, and Australia helping residential and commercial buildings and district energy systems meet their sustainability goals.

About SHARC Energy

SHARC International Systems Inc. is the world leader in energy transfer with wastewater. SHARC Energy's systems recycle and reject thermal energy from wastewater, generating one of the most energy-efficient and economical systems for heating, cooling and hot water production for commercial, residential, and industrial buildings.

SHARC Energy is publicly traded in Canada (CSE: SHRC), the United States (OTCQB: INTWF) and Germany (Frankfurt: IWIA) and you can find out more on our SEDAR profile.

Learn more about SHARC Energy: Website | Investor Page | LinkedIn | YouTube | PIRANHA Series | SHARC Series

ON BEHALF OF THE BOARD
Lynn Mueller
Chairman and Chief Executive Officer

For investor inquiries, please contact:	For media inquiries, please contact:
Hanspaul Pannu	Kamran Shaikh
Chief Financial Officer	Account Director
SHARC Energy	PR Associates
Telephone: (604) 475-7710 ext. 4	Telephone: 778-846-5406
Email: hanspaul.pannu@sharcenergy.com	Email: kshaikh@prassociates.com

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified using words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. SHARC Energy's actual results could differ materially from those anticipated in this forward-looking information because of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company. SHARC Energy believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove correct, and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company's expectations as of the date hereof and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, except as applicable.

A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/60a13357-360f-402d-b383-5182474fc943

A video accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/b8b1e71b-cddc-42c7-bb1a-e03dbee306bf

FAQ

What recent project did SHARC Energy announce involving the ticker INTWF?

SHARC Energy announced the installation of its PIRANHA T15 WET system at Aura's 21 slope-side residences.

How does the PIRANHA T15 WET system benefit renewable energy use?

The system captures thermal energy from wastewater, allowing the residences to operate entirely on renewable energy.

What is the significance of SHARC Energy's installation in Colorado?

It supports Colorado's goal to reduce carbon emissions by 90% from buildings by 2050.

Where else has SHARC installed its systems?

SHARC has nearly 30 systems installed or in progress across the U.S., Canada, the U.K., and Australia.