SHARC Energy Ships PIRANHA HC to Forward-Thinking Vancouver Residential Project

Rhea-AI Summary

SHARC International Systems has shipped its PIRANHA wastewater energy recovery system to the ELLA development in Vancouver, aimed at reducing energy costs and carbon emissions while aligning with the city's climate action plan. The 45-suite building is part of a trend towards sustainable development in Vancouver. The system is expected to achieve a reduction of 524 tonnes of CO₂ emissions over its lifespan and provide up to 100% hot water production. This reinforces SHARC's commitment to energy efficiency and environmental sustainability.

Positive

• Installation of the PIRANHA system at ELLA aligns with Vancouver's climate action goals.
• Expected CO2 emissions reduction of 524 tonnes over the system's lifespan.
• Potential for significant energy savings and carbon emission reductions in multi-family buildings.

Negative

• None.

VANCOUVER, British Columbia, April 22, 2021 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) shipped its PIRANHA wastewater energy recovery system to the ELLA development in Vancouver, B.C., the latest multi-family residential building seeking to reduce its energy costs and carbon footprint while future proofing against rising carbon tax.

The 45-suite unit ELLA project is built by Trillium Projects Management Ltd. (“TRILLIUM”) on behalf of GN Holdings Limited Partnership (“GN HOLDINGS”). GN Holdings is an example of a forward-looking sustainable developer getting ahead of the City of Vancouver Climate Emergency Action Plan and specifically “Big Move 4: Zero Emissions Space and Water Heating”. By 2030, the city would like to reduce carbon pollution from buildings by half from its 2007 levels. By 2025, all new and replacement heating and hot water systems will be mandated to be zero emissions.

Under Big Move 4, the plan outlines regulations will be implemented to reduce the carbon from existing buildings, starting with a first phase in 2025. If these “carbon caps” are not met by buildings, building owners will be charged fees or a municipal carbon tax annually. The City of Vancouver anticipates this to be $15M-$20M of revenue a year starting in 2025. As this plan was originally announced pre-COVID, there is potential this carbon cap is implemented sooner.

The PIRANHA T10 HC will recover the thermal energy from the water that goes down the drain in the complex daily providing heating and an estimated 524 tonnes of CO₂ emissions reduction over its lifespan. At the same time the unit is providing up to 100% of the hot water production, it will be providing some air conditioning to help improve cooling efficiencies.

“We are very proud of this latest project, which shows SHARC Energy’s wastewater energy recovery technology can provide small and medium-size residential buildings significant energy savings and reduced carbon emissions,” said SHARC Energy CEO Lynn Mueller. “We are also encouraged by the support of CleanBC, the province’s program that assists those trying to reduce carbon emissions to meet B.C. and Canada’s GHG reduction goals.”

The ELLA installation is a result of the builder’s initial investment and the assistance of the CleanBC Custom-Lite Program, which subsidizes building owners and operators wishing to install technologies that reduce greenhouse gas (GHG) emissions. CleanBC Custom Programs are funded by the Province of British Columbia and the Government of Canada and is administered by BC Hydro.

There are now eleven SHARC Energy systems installed — or scheduled to be installed — in the Lower Mainland, including the False Creek Neighbourhood Energy Utility.

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:	For media inquiries, please contact:
Hanspaul Pannu	Mike Tanyi
Chief Financial Officer	Director of Marketing and IT
SHARC Energy	SHARC Energy
Telephone: (604) 475-7710 ext. 4	Telephone: (604) 475-7710 ext.109
Email: hanspaul.pannu@sharcenergy.com	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 is the PIRANHA system shipped by SHARC Energy?

The PIRANHA system is a wastewater energy recovery system designed to recycle thermal energy from wastewater for heating and cooling.

What are the benefits of the ELLA development in Vancouver?

The ELLA development aims to reduce energy costs and carbon emissions while aligning with the City of Vancouver's Climate Emergency Action Plan.

How much CO2 emissions will the PIRANHA system reduce?

The PIRANHA system at the ELLA development is expected to reduce CO2 emissions by approximately 524 tonnes over its lifespan.

What is SHARC Energy's stock symbol?

SHARC Energy's stock symbol is INTWF, traded on the OTCQB.

What is the significance of the CleanBC program for SHARC Energy?

CleanBC provides financial support for projects that reduce greenhouse gas emissions, aiding SHARC Energy's installations.