VANCOUVER, British Columbia, Nov. 26, 2020 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE:SHRC) (FSE:IWIA) (OTCQB:INTWF) (the “Company” or “SHARC Energy”) is participating in a virtual trade mission focused on selling its wastewater technology in Brazil’s public and private sectors.
Hosted by Global Affairs Canada’s Trade Commissioner Service based out of the Consulate General of Canada in São Paulo, Brazil, the virtual trade mission commenced on November 16 and provided a briefing session for the Canadian delegation and a B2B matchmaking program with Brazilian companies and organizations in the public and private sector focused on water and wastewater treatment.
The purpose of the trade mission is to connect Canadian companies with a target of 8 meetings with various businesses and organizations that cover expertise in engineering, wastewater and water infrastructure, manufacturer representation, manufacturing, market strategy and government initiatives. These meetings are intended to begin the foundation of strong relationships that will not only benefit the Company in the Brazilian market but potentially other markets as some of these businesses or organizations are multi-national.
This program is a business development initiative of SHARC Energy that is not the focus of the sales team and manufacturer representative network. Their focus remains on the market penetration of the PIRANHA system in North America. This virtual trade mission is the beginning of a potential long-term market opportunity as Brazil continues to invest in water and wastewater infrastructure and energy efficiency over the next decade. Initial conversations have related to pilot projects, market strategy and synergies between organizations.
The Company continues to engage with the Trade Commissioner Service of Global Affairs Canada and will continue to leverage these services and future opportunities and the support provided by the government in order to bring SHARC Energy technology and products to new global markets. Entering new markets with the Trade Commissioner Service allows SHARC Energy to develop new markets in a low cost and efficient manner while building visibility within the Government of Canada.
“This is another element of SHARC Energy’s global commercialization strategy,” said Hanspaul Pannu, SHARC Energy’s Chief Financial Officer. “With its new focus on investing in clean technologies to improve its municipal water, wastewater and energy infrastructure, Brazil presents a major market for SHARC Energy’s wastewater energy recovery technology, which recovers the thermal energy from the water that goes down the drain, reducing the need for other energy sources to heat and cool buildings, in turn reducing GHG emissions.”
Brazil is opening up to foreign wastewater technology companies to improve its wastewater infrastructure. “In July 2020, the Brazilian parliament approved a new legal framework for the sector that promises to change the game and revert the decade’s long gap in investment,” reports Switzerland Global Enterprise. “More than half of all wastewater of the country is not properly disposed of.”
SHARC Energy’s wastewater energy recovery technology — which recovers the heat from wastewater that is sent down the drain — is already being used in Canada, the United States, Australia and the United Kingdom. Designed for both individual buildings and district energy systems, SHARC Energy’s technology is highly scalable and is being applied to both new and retrofitted projects.
SHARC Energy also announced this week it was one of only nine companies selected for the five-month Canadian Technology Accelerator (CTA) program, which will focus on similar business opportunities in Southeast Asia through a series of virtual meetings with ASEAN business leaders in the clean-tech space.
The Brazil Trade mission is being hosted by Global Affairs Canada’s Trade Commissioner Service, led by the Cleantech Trade Commissioner based out of the Consulate General of Canada in São Paulo, Brazil, in partnership with Ontario’s Ministry of Economic Development, Job Creation and Trade, the Quebec Office in São Paulo, Investissement Quebec International and the Chamber of Commerce Brazil-Canada (CCBC). Brazil’s Ministry of Environment is among the public entities participating in the B2B matchmaking program.
Brazilian companies that are engaged in the trade mission include but are not limited to Engemon, Armstrong Fluid Technology, the largest state-run water and sanitation company, Sabesp, the largest private water and sanitation company, Brookfield-owned BRK Ambiental, and RRS Serviços.
About SHARC Energy
SHARC International Systems Inc. is a world leader in wastewater energy recovery. SHARC systems recycle thermal energy from wastewater, generating one of the most energy efficient and economical systems for heating, cooling and hot water production for commercial, residential and industrial buildings, reducing their energy costs and carbon footprint. SHARC Energy 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 Energy
Telephone: (250) 212-2122
Email: jason.shepherd@sharcenergy.com
For media inquiries, please contact:
Mike Tanyi
Director of Marketing and IT
SHARC Energy
Telephone: (250) 212-2122
Email: mike.tanyi@sharcenergy.com
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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.