Fred Andriano Joins SHARC Energy Board of Directors, Bringing Decades of Leadership in Finance and Renewable Energy Expansion
SHARC International Systems has appointed Fred Andriano to its Board of Directors, bringing over 40 years of experience in finance and renewable energy. Andriano's career includes significant roles at Uniroyal Plastics, Dreyer's Grand Ice Cream, and notably as CFO of WaterFurnace International, where he helped double revenues from $65M to $130M, leading to a $364M acquisition by NIBE Group. At NIBE, he facilitated major acquisitions and drove substantial growth. The company also announced a debt settlement agreement to issue 431,818 common shares at $0.11 per share to settle $47,500 in debt.
SHARC International Systems ha nominato Fred Andriano nel suo Consiglio di Amministrazione, portando con sé oltre 40 anni di esperienza nel settore della finanza e delle energie rinnovabili. La carriera di Andriano include ruoli significativi presso Uniroyal Plastics, Dreyer's Grand Ice Cream, e in particolare come CFO di WaterFurnace International, dove ha contribuito a raddoppiare i ricavi da 65 milioni a 130 milioni di dollari, facilitando un'acquisizione da 364 milioni di dollari da parte del NIBE Group. Presso NIBE, ha facilitato importanti acquisizioni e guidato una crescita sostanziale. L'azienda ha anche annunciato un accordo di liquidazione del debito per emettere 431.818 azioni ordinarie a 0,11 dollari per azione per saldare un debito di 47.500 dollari.
SHARC International Systems ha nombrado a Fred Andriano en su Junta Directiva, aportando más de 40 años de experiencia en finanzas y energía renovable. La carrera de Andriano incluye roles significativos en Uniroyal Plastics, Dreyer's Grand Ice Cream, y notablemente como CFO de WaterFurnace International, donde ayudó a duplicar los ingresos de 65 millones a 130 millones de dólares, lo que llevó a una adquisición de 364 millones de dólares por parte del Grupo NIBE. En NIBE, facilitó importantes adquisiciones y promovió un crecimiento sustancial. La compañía también anunció un acuerdo de liquidación de deuda para emitir 431,818 acciones comunes a 0.11 dólares por acción para saldar 47,500 dólares en deudas.
SHARC International Systems는 Fred Andriano를 이사회에 임명하였으며, 그는 재무 및 재생 가능 에너지 분야에서 40년 이상의 경력을 보유하고 있습니다. Andriano는 Uniroyal Plastics, Dreyer's Grand Ice Cream에서 중요한 역할을 하였고, 특히 WaterFurnace International의 CFO로서 6500만 달러에서 1억 3000만 달러로 수익을 두 배로 늘리는 데 기여하였으며, 이는 NIBE 그룹에 의해 3억 6400만 달러에 인수되는 결과를 가져왔습니다. NIBE에서 그는 주요 인수 거래를 촉진하고 상당한 성장을 이끌었습니다. 또한 회사는 47,500 달러의 부채를 정산하기 위해 주당 0.11 달러에 431,818주를 발행하는 부채 정산 협정을 발표했습니다.
SHARC International Systems a nommé Fred Andriano au sein de son Conseil d'Administration, apportant plus de 40 ans d'expérience dans les domaines de la finance et des énergies renouvelables. La carrière d'Andriano inclut des rôles significatifs chez Uniroyal Plastics, Dreyer's Grand Ice Cream, et notamment en tant que CFO de WaterFurnace International, où il a contribué à doubler les revenus de 65 millions à 130 millions de dollars, menant à une acquisition de 364 millions de dollars par le groupe NIBE. Chez NIBE, il a facilité des acquisitions majeures et stimulé une croissance substantielle. L'entreprise a également annoncé un accord de règlement de dette pour émettre 431.818 actions ordinaires à 0,11 dollar par action afin de régler 47.500 dollars de dettes.
SHARC International Systems hat Fred Andriano in seinen Vorstand berufen und bringt über 40 Jahre Erfahrung in den Bereichen Finanzen und erneuerbare Energien mit. Andriano hatte bedeutende Positionen bei Uniroyal Plastics, Dreyer's Grand Ice Cream und insbesondere als CFO von WaterFurnace International inne, wo er half, die Einnahmen von 65 Millionen auf 130 Millionen Dollar zu verdoppeln, was zu einer Übernahme durch die NIBE Gruppe für 364 Millionen Dollar führte. Bei NIBE erleichterte er bedeutende Akquisitionen und förderte ein erhebliches Wachstum. Das Unternehmen gab außerdem eine Schuldenregelungsvereinbarung bekannt, um 431.818 Stammaktien zu einem Preis von 0,11 Dollar pro Aktie auszugeben, um 47.500 Dollar Schulden abzubauen.
- Appointment of experienced financial executive with proven track record in renewable energy sector
- New director's history of driving significant revenue growth (WaterFurnace: $65M to $130M)
- Experience in successful M&A transactions and international joint ventures
- Debt reduction through share issuance, improving balance sheet structure
- Dilution of existing shareholders through new share issuance for debt settlement
- Departure of founding board member Daryle Anderson
VANCOUVER, British Columbia, Nov. 07, 2024 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”), a leader in Wastewater Energy Transfer ("WET"), is pleased to announce the appointment of Fred Andriano to its Board of Directors. With over 40 years of experience in finance, renewable energy, and corporate governance, Mr. Andriano’s extensive background will be invaluable to SHARC Energy as it continues its growth in sustainable and energy-efficient solutions.
Mr. Andriano began his career with Uniroyal Plastics Products Group, a division of Uniroyal Inc., where he rapidly advanced through key financial roles. His tenure included positions such as Divisional Manager of Budgets and Forecasting, and ultimately, Divisional Controller for a
In 2005, Mr. Andriano joined WaterFurnace International, a publicly traded company on the TSX, as Chief Financial Officer. His leadership at WaterFurnace was marked by strategic acquisitions, international joint ventures, and impressive growth, with revenues doubling from
Mr. Andriano’s experience also includes revitalizing finance and accounting departments, implementing strategic planning processes, and driving substantial profit increases. As CFO of Fireplace International, a NIBE subsidiary, he led sales growth from
“Fred’s impressive track record in financial leadership, his success in scaling companies through acquisition, and his commitment to sustainable energy make him a perfect fit for SHARC Energy’s Board of Directors,” said Lynn Mueller, CEO of SHARC Energy. “We are excited to welcome Fred and confident his insights will be instrumental as we continue to expand our offerings in wastewater energy recovery.”
“It is a distinct honor to be named to the SHARC Energy Board of Directors. The technology the Company has developed and now deploys has the potential to be rapidly expanded into the building and property management markets as a game changer to reduce energy costs and move the needle on green applications that should become the standard in all new and existing construction,” says Mr. Andriano. “I will use my experience and expertise to work with the Board and Management to guide the Company to increase revenue, drive profit and make the SHARC products a must for all commercial applications.”
Fred Andriano’s wealth of experience and strategic vision will support SHARC Energy's mission to deliver innovative solutions that reduce energy consumption and promote environmental stewardship worldwide.
Finally, the Company would like to extend its gratitude and thank Daryle Anderson for his contribution to SHARC Energy as a founder and member of the board as he steps down to make room for Mr. Andriano. Mr. Anderson continues to be a supporter and the Company wishes him well in retirement.
Debt Settlement
The Company proposes to enter into a debt settlement agreement with a certain creditor of the Company (the “Creditor"), pursuant to which the Creditor will agree to settle an aggregate of
About SHARC Energy
SHARC International Systems Inc. is a world leader in energy transfer with the wastewater we send down the drain every day. SHARC Energy's systems exchange thermal energy with wastewater, generating one of the most energy-efficient and economical systems for heating, cooling & hot water production for commercial, residential and industrial buildings along with thermal energy networks, commonly referred to as “District Energy”.
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 | SHARC
| ON BEHALF OF THE BOARD | |
| Lynn Mueller | |
| Chairman and Chief Executive Officer | |
| For investor inquiries, please contact: | For media inquiries, please contact: |
| Hanspaul Pannu Chief Financial & Operating Officer SHARC Energy Telephone: (604) 475-7710 ext. 4 Email: hanspaul.pannu@sharcenergy.com | Mike Tanyi Director of Marketing & IT SHARC Energy Telephone: 604.475.7710 Ext.109 Email: mike.tanyi@sharcenergy.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 as a result 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 to be 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 required by applicable securities legislation.
FAQ
What is Fred Andriano's experience before joining SHARC Energy (INTWF)?
How many shares is SHARC Energy (INTWF) issuing in the November 2024 debt settlement?
What was Fred Andriano's role at WaterFurnace before joining SHARC Energy (INTWF)?
