SEATTLE, Oct. 20, 2023 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) is pleased to provide an update to a previously disclosed project in the heart of Seattle. SHARC Energy is honored to have collaborated with King County, McKinstry and esteemed real estate firm Alexandria Real Estate Equities, Inc. (“ARE”) in unveiling a cutting-edge sewer heat recovery system, commonly referred to as a Wastewater Energy Transfer (“WET) system, at the Alexandria Center for Life Science in South Lake Union, Seattle. This initiative clearly demonstrates the benefits of public-private partnerships based on King County's progressive sustainable legislation.
By utilizing the consistent 70-degree wastewater temperature from the sewer system, wastewater treated as a renewable resource offers a sustainable alternative to traditional energy sources. It is anticipated that the SHARC WET system will reduce carbon emissions by an astonishing 99% while providing 70% of the heating needs to the campus compared to a standard laboratory building in Seattle.
At the heart of this sustainable project lies the SHARC WET System, engineered to serve the 1.6 million-square-foot life science mega campus. The system captures heat from a King County sewer pipeline, transmitting the reclaimed energy through a heat pump to warm the campus's facilities. The project is beneath ARE’s 701 Dexter Avenue North development, with full operational status envisioned by 2025.
A key milestone in the project was when McKinstry connected the County’s century-old main sewer line to Alexandria’s system, demonstrating the feasibility of wastewater energy in urban landscapes. McKinstry's expertise further demonstrates the collective competency propelling this project.
King County's recent press release on October 19, 2023, highlights its commitment to sustainable practices, setting a remarkable precedent for other regions. The leadership shown by King County’s Sewer Heat Recovery Program shows how they are actively nurturing commercial interest in renewable energy solutions, combating climate change, and mitigating energy costs. Currently, there remains 2 project spaces open under the program where approved projects will not be required to pay transfer fees for three years in exchange for the operational data.
The disclosure of this project precedes a CleanTech Alliance led roundtable event on October 25, 2023—Harnessing the Untapped Potential of Wastewater Energy Transfer for Your Municipality, where sewer authorities from across the United States will be teaching on how to transform sewer infrastructure into a clean energy network of the future. Virtual registration to the event is free for any interested attendees.
In closing, this collaborative venture aligns impeccably with SHARC Energy’s ability to drive electrification, decarbonization, and freshwater conservation.
Learn more about the Alexandria Center project on the SHARC website. Additional insights can be found in a recent Seattle Times article detailing how sewer heat recovery technology is warming office buildings in Seattle.
About SHARC Energy
SHARC International Systems Inc. is a world leader in energy transfer 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 | SHARC
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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 & 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.
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