VANCOUVER, British Columbia, Dec. 03, 2019 (GLOBE NEWSWIRE) -- Sharc International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC" or "the Company") is pleased to announce that the Company is to deploy a SHARC™ Energy Systems’ Piranha T10 Heating/Cooling system (“Piranha T10 HC”) into ELLA (“ELLA”), a new 45-unit residential development in Vancouver, BC, Canada.
Trillium Projects Management Ltd. (“TRILLIUM”) will oversee construction of ELLA on behalf of GN Holdings Limited Partnership (“GN HOLDINGS”). ELLA is located at the corner of Grant and Nanaimo Streets in Vancouver’s Grandview-Woodland neighbourhood.
The Piranha T10 HC will provide all the domestic hot water and heating energy at a 500% efficiency recovered from the wastewater flow from the 45 suites and will provide air conditioning for the lobby and common areas of the building. The Piranha T10 HC uses the very same energy every day and the cycle of use and re-use goes on in perpetuity within the building, saving the occupants money while reducing their carbon footprint by more than 50 tonnes of CO2 per year.
Province of British Columbia's Ministry of Energy Mines and Petroleum Resources has granted an exemption to ELLA through an application process of the CleanBC Commercial New Construction Program (“CleanBC”). Construction projects like ELLA that choose to save energy and lower greenhouse gas emissions, may apply for assistance under CleanBC, which is funded by the Province of British Columbia and the Government of Canada under the Low Carbon Economy Leadership Fund.
Matt Ilich, Vice President Development at GN Holdings, commented, “We are extremely proud and excited to introduce the Piranha into ELLA as a near net zero building into our portfolio of developments, and we expect the SHARC systems to become widely adopted by the development and construction community.”
Lynn Mueller, CEO, SHARC Energy Systems, commented, "We are very excited to be working with Trillium and with the deployment of the SHARC energy system at ELLA, the management team at Trillium embraced the idea seeing immediate benefit for the new homeowners and to the environment.”
About Trillium Projects Management Ltd.
Trillium is building ELLA on behalf of GN Holdings Limited Partnership.
Trillium is a Vancouver-based construction and project management company. Over the past 20 years, members of the team have developed over one billion dollars of real estate ranging from townhomes and condominiums to senior assisted dwellings and custom homes.
Trillium prides itself on strong relationships built both within the industry and their client base. Trillium provides years of experience, having worked for some of the most prominent real estate developer and construction management companies in the region.
Further information about Trillium Projects is available on their website at www.trilliumprojects.com.
About ELLA
The ELLA development will consist of studio apartments and 1-, 2-, and 3-bedroom residences. The Piranha T10 HC will recover energy that is typically lost and reuse it. Not only will ELLA do its part to help the environment, each homeowner will save in energy costs without changing the habits of their daily life.
At the corner of Vancouver’s Grant and Nanaimo Streets, ELLA is a family-oriented community full of old-world charm and thriving local family-run businesses. It is one of the last remaining pockets of Vancouver with genuine, honest character and neighbours who wave to say hello. ELLA will be equipped with amenities catering to convenience and connectivity and features a co-working hub with high-speed Wi-Fi which by night transforms into an expansive indoor/outdoor lounge and terrace, a pet-washing station, a secure smart parcel delivery system, and a bike service station.
Further information about ELLA development is available on their website at ELLA Living.
About SHARC International Systems
SHARC International Systems Inc. is a world leader in thermal heat recovery. SHARC™ technology systems recycle thermal energy from wastewater, generating one of the most energy efficient and economical systems for heating, cooling & hot water preheating for commercial, residential and industrial buildings. SHARC is publicly traded in Canada (CSE: SHRC), the United States (OTCQB: INTWF) and Germany (Frankfurt: IWIA).
Further information about the Company is available on our website at www.sharcenergy.com or under our profile on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD
“Lynn Mueller”
Chairman and Chief Executive Officer
For further information, please contact:
Investor Relations
Jamie Hyland
SHARC International Systems Inc.
Telephone: (604) 442-2425
Email: jamie.hyland@sharcenergy.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the Canadian Securities Exchange) accepts 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 by the use of 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'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 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 as a result of new information, future events or otherwise, except as required by applicable securities legislation.