SHARC Energy Completes North American Piranha Certification

Rhea-AI Summary

SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) announces the successful completion of testing for its PIRANHA Wastewater Energy Transfer system, obtaining the ETL listed mark indicating compliance with North American standards. This certification is expected to facilitate market penetration in North America, boost customer confidence, and increase demand for the product, positioning SHARC Energy as a leader in the industry.

Positive

• Successful completion of testing for the PIRANHA Wastewater Energy Transfer system
• Attainment of the ETL listed mark indicating compliance with North American standards
• Expected boost in customer confidence and increased demand for the product
• Facilitation of market penetration in North America
• Positioning SHARC Energy as a leader in the industry

Negative

• None.

VANCOUVER, British Columbia, Nov. 14, 2023 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) is pleased to announce that the PIRANHA Wastewater Energy Transfer (“WET”) system has successfully completed testing in compliance with CSA/UL Standards 60335-2-40, and NSF 5. The PIRANHA series will now bear the Electrical Testing Laboratories (“ETL”) listed mark indicating to distributors and customers that the product is compliant to North American standards and provides a pathway for the PIRANHA series to gain compliance in key North American markets requiring state approval.

The award of the ETL listed mark to the PIRANHA series is more than a symbol of compliance; it is a testament to SHARC Energy's commitment to delivering quality and safety in its innovative products. This mark is widely recognized across the United States and Canada, not only by authorities and code officials as evidence of adherence to industry standards, but also by customers and consumers as an assurance of safety and reliability. The attainment of this certification opens doors for SHARC Energy, facilitating market penetration in North America and serving as a valuable credential in expanding to other global markets with stringent product compliance requirements.

Furthermore, the ETL listed mark equips SHARC Energy with a trusted mark, enhancing the marketability of the PIRANHA series. This certification is expected to boost customer confidence, leading to increased demand. It also positions SHARC Energy as a leader in the WET industry, reflecting the company's dedication to innovation, safety, and environmental stewardship.

With the receipt of this mark, the Company is now eligible to file for approval in other key markets with their own product compliance regulations such as Massachusetts and California. The Company is shifting its focus to receiving these approvals.

About SHARC Energy  

SHARC International Systems Inc. is a world leader in energy transfer from the wastewater we send down the drain every day. SHARC Energy's systems recycle thermal energy from wastewater, generating one of the most energy-efficient and economical systems for heating, cooling & 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 | SHARC

Learn more about the CAGBC & LEED Certification: CAGBC | 4Thoughts

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: 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. 

In a significant stride towards market expansion and product reliability, SHARC Energy's recent certification of the PIRANHA Wastewater Energy Transfer (WET) System marks a pivotal achievement in the company's growth trajectory. The certification, announced on November 9, 2023, highlights the system's compliance with the CSA/UL Standards 60335-2-40 and NSF 5, underscoring its alignment with North American safety and performance benchmarks.

The award of the Electrical Testing Laboratories (ETL) listed mark to the PIRANHA series is more than a symbol of compliance; it is a testament to SHARC Energy's commitment to delivering quality and safety in its innovative products. This mark is widely recognized across the United States and Canada, not only by authorities and code officials as evidence of adherence to industry standards but also by customers and consumers as an assurance of safety and reliability. The attainment of this certification opens doors for SHARC Energy, facilitating market penetration in North America and serving as a valuable credential in expanding to other global markets with stringent product compliance requirements.

Moreover, the ETL listed mark equips SHARC Energy with a competitive edge, enhancing the marketability of the PIRANHA series. This certification is expected to boost customer confidence, leading to increased demand and potentially greater market share. It also positions SHARC Energy as a leader in the sustainable energy sector, reflecting the company's dedication to innovation, safety, and environmental stewardship.

In conclusion, SHARC Energy's achievement in receiving the ETL listed mark for its PIRANHA WET System is a significant milestone, not only for the company but for the sustainable energy industry as a whole. It represents a convergence of compliance, market readiness, and a commitment to excellence, setting a new benchmark for energy solutions in North America and beyond.

A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/8bb4c595-d3eb-482d-95d4-dd70475f75d5

FAQ

What certification has SHARC Energy obtained for its PIRANHA series?

SHARC Energy has obtained the ETL listed mark indicating compliance with North American standards for its PIRANHA series.

What are the expected benefits of obtaining the ETL listed mark?

The certification is expected to facilitate market penetration in North America, boost customer confidence, and increase demand for the product, positioning SHARC Energy as a leader in the industry.

In which markets will SHARC Energy focus on receiving approvals after obtaining the ETL listed mark?

The company will focus on receiving approvals in other key markets with their own product compliance regulations such as Massachusetts and California.