VANCOUVER, British Columbia, Jan. 27, 2022 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) would like to provide an update on its involvement in the development of leləm̓, a master planned community in the University of British Columbia Endowment Lands developed by Musqueam Capital Corporation. The development’s heating and cooling needs will be met by utilizing a low-carbon SHARC Wastewater Energy Transfer (“WET”) system as part of a centralized energy facility.
Prior to year end, the Company delivered the SHARC WET system on site (picture) for the installation and commissioning scheduled to take place during Q1 2022. leləm̓ has selected the SHARC WET system in its centralized energy facility, connecting to a closed loop tying into each building in the development, for the purposes of providing low-carbon and energy efficient heating, cooling and hot water.
“Musqueam Capital Corporation is pleased to partner with SHARC to construct a sewage heat recovery plant to provide sustainable energy to 1,200 residential units planned at lelǝḿ development. Employment of this type of technology is consistent with Musqueam’s cultural values founded on stewardship of the natural world,” says Babu Kadiyala, VP Real Estate of Musqueam Capital Corporation.
Centralized or District Energy Systems utilizing wastewater energy transfer like the leləm̓ project will benefit from significant carbon savings, energy efficiency and freshwater savings compared to current standards. As witnessed by the summer heat waves and winter cold snaps in British Columbia, balancing both heating and cooling loads globally is critical. WET systems have the ability to provide consistent year-round environmental and operational efficiencies to both heating and cooling loads.
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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b9b7df66-f285-4caf-a59e-bd12511c6d6b
