VANCOUVER, British Columbia, March 13, 2018 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE:SHRC) (FSE:IWIA) (OTCQB:INTWF) ("SHARC" or "the Company"), is pleased to announce it has completed the design and fabrication of the MAKO™ waste water heat exchange system. The system is currently undergoing testing at a single detached home in Vancouver, British Columbia.
The MAKO is the residential version of the award-winning SHARC energy system that until now has only been available to provide heating, cooling, and hot water for large-scale projects such as college campuses and high-rise apartment buildings.
The MAKO meets LEED® Canada for Homes criteria, is easily installed in new and retrofit projects. The MAKO will provide families with immediate and long-term energy savings and carbon reduction, and is expected to qualify for the Government of Canada’s clean technology investment program.
The average Vancouver household spends approximately $1,550.00 per year on thermal energy that can be recovered by the MAKO. The estimated operating cost for the MAKO is $350.00 per year, while it delivers annual savings of approximately $1,200.00, paying for itself in less than four years.
As more people around the world install the MAKO, it will cut GHG emissions significantly, offsetting an estimated three to four tonnes of CO2 emissions per year for each household. The MAKO can also be tied to a home’s solar electric system allowing families to gain energy independence with an off-grid system.
“SHARC is continuously driving innovation and finding ways to help clients reduce their energy bill and carbon footprint,” said SHARC CEO Lynn Mueller. “In a very short time, SHARC has extended its reach from district networks all the way down to single detached dwellings, increasing its customer base and importantly for all, having a significant global impact on reducing carbon emissions. Our bigger systems, the SHARC™ and PIRANHA™, are now recognized as mainstream technology; the time has come for the widespread adoption of the MAKO.”
The Company also announces the issuance of 300,000 stock options at $0.36 to directors, management, and consultants of the Company for a term of twelve (12) months.
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 (OTC: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:
Ray Crowley
Telephone: 604 782 0773
Email: ray.crowley@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.