- King County opens public sewer system to private-sector wastewater-energy-recovery projects
VANCOUVER, British Columbia, Nov. 19, 2020 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE:SHRC) (FSE:IWIA) (OTCQB:INTWF) (the “Company” or “SHARC Energy”) is pleased to announce plans are proceeding to apply its wastewater energy recovery technology to the King County sewer system, the 12th most populous county in the US, which includes the city of Seattle.
SHARC Energy participated in the opportunity that King County provided for public consultation with regards to the development of the template contract that could be used for agreements with private parties (users) for sewer heat recovery. On September 15, King County Council unanimously approved legislation allowing three wastewater heat recovery projects.
“This is one of the most ambitious wastewater recovery initiatives in North America and we are delighted to see King County take a leadership role in recovering the energy that goes down the drain every minute of every day in buildings across the United States and around the world,” said SHARC Energy CEO Lynn Mueller.
“SHARC Energy’s wastewater recovery systems, now successfully operating in Canada — the United States, Australia and the United Kingdom — reduce the use of fossil fuels for heating and cooling, and that means energy savings and dramatic reductions in GHG emissions to help residents, property owners and government’s meet vital decarbonization targets.”
The approved program proposes up to three pilot projects in King County, including Seattle, which will operate without paying the energy transfer fee for three years in exchange for sharing data with King County Water Treatment Division (“King County WTD”), which provides wastewater treatment services to 17 cities, 17 local sewer districts and more than 1.8 million residents across a 420-square-mile area in King, Snohomish and Pierce counties, including Seattle.
SHARC Energy’s system has been accepted by a US national developer which has a Seattle project that is potentially one of the pilot King County wastewater recovery projects. Details of the application involving SHARC Energy are being withheld for commercial reasons. Final development applications for one or potentially more of the pilot project proposals closes December 18, 2020.
This initiative highlights one of two opportunities for “Smart Cities”, municipalities, wastewater authorities and other owners of city wastewater and sewer infrastructure to monetize a previously forgotten resource and cost center while helping achieve the goals of government climate action plans.
“Our new Sewer Heat Recovery program is a great opportunity for us to partner with King County commercial property owners,” Mark Isaacson, WTD Director, said in a Nov. 5th statement. “This technology will lower a connected building’s carbon emissions, and help owners decrease their environmental footprint. Sewer heat recovery can also help owners and developers meet more stringent energy codes and give them a chance to leverage occupancy strategies that could attract tenants, buyers, and potential investors.”
King County WTD is showcasing the ability to sell the wastewater flowing within their current sewer infrastructure through transfer fee agreements with the private sector. In Vancouver, the City of Vancouver Neighbourhood Energy Utility (“NEU”) is powered by a sewer heat recovery district energy system, utilizing two SHARC 880 systems for superior wastewater filtration, to sell 3 megawatts (MW) of heating and cooling to 5,750,000 square feet of residential, commercial and institutional floor area and has approval for a Federal and Provincial government subsidized 5-MW expansion to heat over 20,000,000 square feet of the city slated to begin in 2021. This expansion represents one of two sewer heat recovery district energy projects within the Greater Vancouver area being funded by the Federal and Provincial government.
King County is now at the forefront of wastewater heat recovery. They are now the first county or municipality in Washington State and the first in North America to establish a clear framework for private-sector partners to tap into the wastewater sewer system, a previously unutilized publicly-owned renewable energy resource.
The King County Strategic Plan has also set out an aggressive Healthy Environment plan to reduce countywide greenhouse gas emissions by 50 percent by 2030. The proposed legislation also furthers its Strategic Climate Action Plan goal of reducing countywide sources of greenhouse gas emissions by supporting development of renewable energy resources.
About SHARC International Systems
SHARC International Systems Inc. is a world leader in thermal heat recovery. SHARC 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 SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD
“Lynn Mueller”
Chairman and Chief Executive Officer
For investor inquiries, please contact:
Jason Shepherd
Investor Relations
SHARC International Systems Inc.
Telephone: (250) 212-2122
Email: jason.shepherd@sharcenergy.com
For media inquiries, please contact
Mike Tanyi
Director of Marketing and IT
SHARC International Systems Inc.
Telephone: (250) 212-2122
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 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 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 as a result of new information, future events or otherwise, except as required by applicable securities legislation.
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