SHARC Energy and HTS Ontario to Supply Two PIRANHA T15 Wastewater Energy Transfer Systems

Rhea-AI Summary

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.

Positive

• New contract with HTS Ontario to supply two PIRANHA T15 systems.
• Second installation of PIRANHA in Ottawa, marking expansion in the region.
• Expected energy recovery efficiency of 400% from the PIRANHA WET system.
• Potential for continued growth in the Ontario market as policies supporting WET products emerge.

Negative

• None.

Deal represents the tip of a growing pipeline of sales opportunities in Ontario

VANCOUVER, British Columbia, June 15, 2022 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the "Company"), a world leader in energy transfer from wastewater, is pleased to announce that the Company and HTS Ontario ("HTS"), a representative of SHARC Energy products, have been selected to supply two PIRANHA T15 Wastewater Energy Transfer (“WET”) systems to be installed in Ottawa. These units will help a new housing complex recover the thermal energy from wastewater. This project represents the second PIRANHA site in Ottawa, Ontario. The units are expected to ship in the fourth quarter of 2022.

This deal is a key milestone as it marks the beginning of HTS’s growing SHARC Energy pipeline turning over and validates the Company’s strategy to support and leverage its representative network to help grow awareness and sales for its products in key markets.

“HTS is proud to represent SHARC Energy, a Canadian Company, in Ontario.  Wastewater from buildings is an untapped resource for the HVAC industry.  Having SHARC Energy’s experience and time-proven products will allow HTS to recover more heat and help us all generate less greenhouse gases,” said HTS Director, Canadian Operations, Paul Pilutti. “We have many projects in the planning and design phase and we anticipate significant growth in wastewater energy transfer projects.”

“We are excited about the growth of the Ontario Wastewater Energy Transfer market and we are grateful to have a strong partner in HTS Ontario supporting SHARC Energy as it pioneers this industry,” said SHARC Energy CEO Lynn Mueller. “Ottawa buildings are responsible for approximately 46% of community greenhouse gas emissions and we are proud to support the owners of the housing complex achieve their sustainability goals while helping the city achieve theirs.”

The PIRANHA WET system is an electrical hot water system that extracts thermal energy from wastewater and uses it to provide 100% of its hot water production at an average year-round efficiency of 400%. Every dollar of energy used to operate the system generates four dollars of output. The PIRANHA HC almost doubles that efficiency as this model provides simultaneous cooling as a by-product of hot water production.

SHARC Energy and HTS Ontario anticipate continued and accelerated growth in Ontario as policies supporting the adoption of WET products are passed. SHARC Energy and its district-scale WET system is well-positioned to support the City of Toronto’s Wastewater Energy Transfer Program which aims to reduce approximately 200,000 tonnes of GHG emissions annually while unlocking value for the City through the sale of thermal energy.

The SHARC WET system is installed in Vancouver’s False Creek Neighborhood Energy Utility, D.C Water Administrative Building in Washington, D.C. and the National Western Center, North America’s largest WET District Energy System in Denver, Colorado. The Company has nearly 30 installations of SHARC and PIRANHA WET systems installed or in progress in the United States, Canada, United Kingdom and Australia.

About SHARC Energy

SHARC International Systems Inc. is the world leader in energy recovery from wastewater. SHARC Energy's systems recycle 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

About HTS

Headquartered in Toronto, Ontario, Canada, HTS is one of the largest independent commercial and industrial HVAC solutions providers in North America. With 7 offices and 400+ employees in Ontario, HTS is uniquely positioned to support and expand our business in this key market.

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

For investor inquiries, please contact: Hanspaul Pannu Chief Financial Officer SHARC Energy Telephone: (604) 475-7710 ext. 4 Email: hanspaul.pannu@sharcenergy.com

For media inquiries, please contact: Kamran Shaikh Account Director PR Associates Telephone: 778-846-5406 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/1c02565b-24c9-4160-a9d1-1617e6749151

Videos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/eda440dd-f575-4fa3-b76b-b091dc46ab87
https://www.globenewswire.com/NewsRoom/AttachmentNg/6c18e163-5b9a-4b96-b96a-dcc609d8cc1e

FAQ

What are the details of SHARC Energy's recent contract in Ontario?

SHARC Energy has secured a contract with HTS Ontario to supply two PIRANHA T15 Wastewater Energy Transfer systems for a housing complex in Ottawa.

When are the PIRANHA systems expected to ship?

The PIRANHA systems are anticipated to ship in the fourth quarter of 2022.

What is the efficiency of the PIRANHA WET system?

The PIRANHA WET system operates at an average efficiency of 400%, recovering thermal energy from wastewater.

How does the new deal impact SHARC Energy's growth strategy?

This deal is a critical milestone for SHARC Energy, validating its strategy to leverage partnerships for increased sales and awareness of its products.