SHARC INTL SYS INC - INTWF STOCK NEWS

SHARC Energy (OTCQB: INTWF) reported its Q3 2022 financial results with total revenue of $0.08M, down from $1.42M in Q3 2021. Year-to-date revenues dropped to $1.13M from $1.72M in the previous year. The company reported a Q3 adjusted EBITDA loss of $0.69M, contributing to a year-to-date loss of $3.54M. Despite these challenges, SHARC Energy noted a 16% growth in its Sales Order Backlog, now at $0.8M, and a 5% increase in its Design Pipeline to $11.06M. The management remains optimistic about future growth driven by new regulatory support and expanding project opportunities.

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.

SHARC Energy has partnered with Egg Geo to introduce the world's first combined wastewater energy transfer (WET) and geothermal system. This innovative project in the Bronx aims to supply 100% heating, hot water, and cooling for 316 affordable housing units in two 20-story towers. By utilizing thermal energy from the ground and wastewater, the approach significantly reduces upfront costs and makes geothermal energy viable in urban settings. The initiative aligns with the NYSERDA Empire Building Challenge, focusing on energy efficiency and decarbonization.

SHARC International Systems Inc. (OTCQB: INTWF) has released its financial results for Q2 2022, reporting a revenue of $0.17M, up 56% from Q2 2021. The year-to-date revenue reached $1.05M, a 254% increase. The company’s sales pipeline grew by 27% to $9.8M. However, Adjusted EBITDA loss rose to $0.83M in Q2, a 43% increase. Overall loss for Q2 was $1.24M. SHARC Energy highlights strategic partnerships and projects aimed at accelerating growth in the Wastewater Energy Transfer industry.

SHARC International Systems has announced a partnership with Salas O’Brien, a leading engineering firm, to enhance the reach of its wastewater-energy transfer systems (WET Systems) across North America. This collaboration aims to deliver turnkey solutions focused on carbon reduction and energy efficiency.

The agreement includes issuing 5 million warrants for shares at $0.40 each, fostering significant pipeline growth for SHARC Energy’s innovative technologies in various sectors, including healthcare and education.

SHARC International Systems has been selected by HTS Ontario to supply two PIRANHA T15 Wastewater Energy Transfer systems for a new housing complex in Ottawa. This marks the second installation in the city and aims to recover thermal energy from wastewater, contributing to sustainability efforts. The systems are expected to ship in Q4 2022. Additionally, both companies anticipate further growth in the Ontario market, supported by policies favoring Wastewater Energy Transfer products. The PIRANHA WET system boasts an average efficiency of 400% in energy recovery.

SHARC International Systems (OTCQB: INTWF) supports Washington's initiative mandating electric heating and cooling in new buildings starting 2023. This legislation aims to curb greenhouse gas emissions by eliminating natural gas use, potentially reducing 8.1 million tons of CO2 by 2050. SHARC's PIRANHA Wastewater Energy Transfer system is integral to these efforts, promoting sustainability with an efficiency of 400%. With several installations planned across the state, the company positions itself as a leader in the electrification movement, addressing climate change effectively.

SHARC International Systems (OTCQB: INTWF) announced its PIRANHA and PIRANHA HC T5, T10, and T15 Wastewater Energy Transfer (WET) systems have been selected by Sustainable Living Innovations (SLI) for six new projects in Seattle. SLI's projects focus on carbon-neutral residential buildings, with SHARC's technology enhancing efficiency and reducing costs. The PIRANHA system achieves 400% efficiency in hot water production by recycling thermal energy. A purchase order has been made for a PIRANHA T5 HC system for SLI's Seattle project, with additional projects in the design phase expected in 2023.

SHARC International Systems Inc. (OTCQB: INTWF) reported Q1 2022 financial results, showing a significant revenue increase of 365% to $0.88M compared to Q1 2021. The company reported a sales pipeline of $7.5M, up 25%, and a sales order backlog of $0.84M, indicating 50% growth. Adjusted EBITDA loss was $0.52M, a 2% rise from the previous year, with total losses of $0.84M, slightly down from last year. Working capital stood at $1.68M, sufficient for at least 12 months. The company continues to expand its footprint in the cleantech sector.