SHARC Energy Grows North American Footprint

Rhea-AI Summary

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.

Positive

• Successful delivery of units for three significant projects.
• Largest wastewater heat recovery project in North America.
• National Western Center project estimated to reduce over 2,600 metric tonnes of CO2 emissions annually.
• SHARC Energy projects showcase the viability of its technology in multiple sectors.
• Growing trend among businesses for carbon emission reduction.

Negative

• Sales in Alberta's natural gas dominated market may prove difficult.

VANCOUVER, British Columbia, Sept. 20, 2021 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) is pleased to provide an update on the National Western Center, Trico LivingWell and 303 Battery projects. The Company has shipped and delivered the units to each of the respective sites for installation and commissioning scheduled in the first half of 2022.

These projects showcase a 3.8 megawatt (MW) district energy system, the largest wastewater heat recovery project in North America to date, a forward-thinking senior-living facility and one of the first Zero Net Energy certified residential building complex in Colorado, Alberta and Washington, respectively. Each of these installations highlight the variety of target verticals for SHARC Energy’s technology and brings increases awareness of SHARC Energy products as reliable, cost-effective and consistent solutions for reducing greenhouse gas emissions and creating fresh water savings.

National Western Center, a Denver, Colorado, 250-acre academic campus development of indoor and outdoor spaces designed to host innovation and research labs, farmers markets, international conferences, outdoor festivals and everything in between, is a 3.8 MW district energy project currently considered the largest wastewater heat recovery project in North America and potentially the world. The system will supply 90% of the campus heating and cooling needs and help National Western Center avoid emitting an estimated 2,600 metric tonnes of CO₂ annually. This project is a marquee demonstration in the United States of the power of wastewater and provides example to the legitimacy of wastewater district energy projects for the purposes of low carbon heating and fresh water saving cooling.

Trico LivingWell in Calgary, Alberta will be installing two PIRANHA T15’s in two thoughtfully-planned residences. The PIRANHA T15’s will reduce up to 100% of the CO₂ emissions involved in the hot water production for the residences. These two units represent the 2^nd and 3^rd installation of a PIRANHA system in Alberta.

“Sales in a market like Alberta where natural gas is dominant can prove to be difficult for a clean energy technology like ours,” said SHARC Energy CEO Lynn Mueller. “However, this project highlights the growing trend of forward-thinking businesses and business owners understanding the need to reduce carbon emissions as stewards of the environment.”

303 Battery, by Sustainable Living Innovations, LLC, a 15-story, 112-unit complex in Seattle’s Belltown neighbourhood is utilizing a PIRANHA T15 to assist the development in becoming one of the first residential towers to be certified as Zero Net Energy by the International Living Future Institute.

“With each SHARC Energy installation comes increased momentum and visibility to the viability of wastewater energy recovery systems,” says Mr. Mueller. “Q3 2021 is shaping up to be a strong quarter for the Company. We are so excited for the future of SHARC Energy and the industry.”

The Company has over 25 system installations completed or in progress globally with sites harnessing the power of wastewater in North America, the United Kingdom and Australia.

About SHARC Energy  

SHARC International Systems Inc. is a world leader in energy recovery 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

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 and 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 projects did SHARC International announce on September 20, 2021?

SHARC International announced the successful delivery of units for the National Western Center, Trico LivingWell, and 303 Battery projects.

How much CO2 will the National Western Center project reduce annually?

The National Western Center project is estimated to reduce over 2,600 metric tonnes of CO2 emissions annually.

What is the significance of the wastewater heat recovery project by SHARC Energy?

It is considered the largest wastewater heat recovery project in North America and highlights SHARC's technology capabilities.

What are the expected benefits of the SHARC systems installed at these projects?

The SHARC systems are expected to provide up to 90% of heating and cooling needs and significantly reduce greenhouse gas emissions.

What challenges does SHARC Energy face in the Alberta market?

SHARC Energy faces challenges in sales due to the dominance of natural gas in the Alberta market.