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Sharc Intl Sys Inc (INTWF) delivers innovative energy management solutions through advanced HVAC integration and utility service technologies. This news hub provides investors and industry professionals with essential updates on the company's technical advancements and market position.
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Key updates include technology licensing announcements, HVAC solution enhancements, and operational performance metrics. The content maintains focus on factual reporting of engineering achievements and verified partnership developments within the energy sector.
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SHARC Energy has secured a purchase order from California/Columbia Hydronics Corporation to install the first Wastewater Energy Transfer (WET) system in the Pacific Northwest, specifically in Seattle. This installation is part of an initiative utilizing the King County Wastewater Heat Recovery Pilot Project, which waives WET fees for three years in exchange for operational data.
The WET system serves as an eco-friendly heating and cooling solution, promoting energy recovery from wastewater.
SHARC International Systems Inc. (OTCQB: INTWF) reported significant revenue growth in its fourth quarter and fiscal year ended December 31, 2021. Q4 2021 revenue reached $0.98M, a remarkable 2564% increase year-over-year. For YE 2021, revenue totaled $2.70M, marking a 328% increase from the previous year. However, the company experienced an Adjusted EBITDA loss of $0.40M in Q4 and $1.46M for the year. As of April 18, 2022, it holds a sales pipeline of $6.02M but faces a 62% decrease in sales order backlog. Working capital stands at $3.35M, promoting a positive outlook for continued operations.
SHARC International Systems Inc. (OTCQB: INTWF) announced a non-binding MOU with Carry the Kettle Nakoda Nation and Saskatchewan Renewable Energy Solutions to develop a renewable energy project in Saskatchewan. This initiative aims to utilize solar energy and SHARC's Wastewater Energy Transfer (WET) systems, significantly reducing carbon emissions by decreasing propane usage. The project seeks to foster local and Indigenous business involvement, ensuring a positive environmental and economic impact for the community.
SHARC International Systems Inc. (CSE: SHRC, OTCQB: INTWF) announced its collaboration with Musqueam Capital Corporation for the development of the leləm̓ community in British Columbia. SHARC's Wastewater Energy Transfer (WET) system will provide sustainable heating and cooling for 1,200 residential units in the master-planned community. The installation and commissioning of the WET system are scheduled for Q1 2022, contributing to significant energy efficiency and carbon savings.
SHARC International Systems Inc. has secured a purchase order for two PIRANHA systems for an affordable housing project in Boulder, Colorado, marking the second installation in the area. The company anticipates substantial growth in PIRANHA system sales, projecting 30 orders and $2.1M in revenue over the next year. This growth is driven by policies promoting energy efficiency and climate change initiatives, with an increasing focus on renewable energy technologies. SHARC Energy continues to innovate in energy recovery from wastewater, positioning itself as a leader in energy-efficient solutions.
SHARC Energy (OTCQB: INTWF) reports record financial results for Q3 and YTD 2021. Q3 revenue reached $1.42M, a 234% increase from Q3 2020, marking the highest quarter ever. YTD revenue was $1.72M, up 190% year-over-year. The company achieved its first cash flow positive quarter with Adjusted EBITDA of $0.02M, a 106% improvement. However, Q3 and YTD losses were $0.41M and $2.27M respectively, due to prior debt settlement gains. The current working capital stands at $2.67M, providing operational continuity for the next year.
On October 14, 2021, SHARC International Systems Inc. (OTCQB: INTWF) announced optimism regarding the Wastewater Energy Exchange industry in New York. The New York State Energy Research & Development Authority (NYSERDA) is funding 22 projects, with at least 13 focusing on feasibility studies for Wastewater Energy Exchange, indicating a growing acceptance and interest in this technology. CEO Lynn Mueller emphasized the significance of this funding as a positive indicator for the industry, highlighting their commitment to promoting sustainable energy solutions.
SHARC Energy (OTCQB: INTWF) congratulates CEO Lynn Mueller on receiving the Clean50 Lifetime Achievement Award for his contributions to wastewater energy exchange. This prestigious recognition honors individuals who significantly impact business and the environment. Mueller's innovations in low carbon heating and fresh water conservation are timely, particularly amidst rising global temperatures and drought in the Western U.S. His leadership has positioned SHARC Energy as a leader in wastewater energy recovery, advancing efforts against climate change.
SHARC International Systems Inc. (OTCQB: INTWF) announced the successful delivery of units for three major projects: National Western Center, Trico LivingWell, and 303 Battery. These installations represent the largest wastewater heat recovery project in North America and will contribute to significant CO2 emission reductions. The systems are expected to provide 90% of the heating and cooling needs at National Western Center while eliminating over 2,600 metric tonnes of CO2 emissions annually. SHARC Energy emphasizes the growing adoption of its technology across multiple sectors.
