VANCOUVER, British Columbia, Feb. 28, 2019 (GLOBE NEWSWIRE) -- Sharc International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC" or "the Company") announces that the Company’s UK subsidiary SHARC Energy Systems (“SHARC Energy”) would like to provide an update on the construction work on the new SHARC European HQ building at Clyde Gateway in Glasgow, Scotland.
The project is progressing with £2.2M ($3.85M CDN) being spent so far on infrastructure and buildings. SHARC Energy Systems Unit and equipment will be installed into the just completed building towards the back end of this quarter and a witness testing event will be carried out with the Low Carbon Infrastructure Transition Programme (“LCITP”) by March 22nd to observe a preliminary running of the heat production. The project will fully complete in Q2 when the buried heat network and connections to Andrew Muirhead & Son Limited are completed.
Russ Burton, the Chief Operating Officer of SHARC Energy Systems, said: "With work on the building now only in month five and with the completion date around the corner, it is satisfying for all the SHARC staff to be achieving this significant milestone, and realising all the dedication and hard work that has gone into design, engineering and construction.”
Lynn Mueller, the Group Chairman and CEO of SHARC International Systems Inc., commented: “SHARC International Systems is extremely proud of our Scottish team in raising the sustainability bar with the new European HQ. SHARC is proud to be adapted as energy choice to the world and through innovation its commitment to carbon reduction by utilising SHARC's waste water heat recovery systems."
The new SHARC European HQ building totals 11,000 square feet and is split into three areas, a power generation plant (2,000 sq. ft), office space (1,500 sq. ft) and the factory space (7,500 sq. ft). The buildings power generation plant consists of a SHARC Energy Systems Unit putting out 2MW (megawatt) and heat pumps with 200Kw (kilowatt) of Gas CHP (Phase 2) to provide on site power generation and top up heat support. A 350Kw (kilowatt) of solar PV and battery technology (Phase 2) to generate on site power supply, which will dramatically reduce the system’s reliance on grid energy.
For further information on Clyde Gateway Project please contact Martin Hardwidge at SHARC Energy at +44 07870 243804.
About SHARC Energy Systems (UK)
Launched in June 2014, SHARC Energy Systems is registered in England & Wales specialising in sewage heat recovery technology that is a sustainable alternative energy source. Unique in the UK and Europe, the system generates energy-saving, cost-effective and environmentally-friendly solutions for heating, cooling and hot water for commercial and residential buildings. SHARC Energy Systems is a wholly owned subsidiary of SHARC International Systems Inc.
The waste water technology system was developed by the founding team of technical and engineering professionals who have over 100 years combined experience in the heating, ventilating and geo-exchange industries.
SHARC Energy brought the technology to the UK for the first time and provides a full design, build finance and operate service. The SHARC™ system is suitable for both new build and retrofit projects on residential and commercial developments.
SHARC Energy, in partnership with Scottish Water Horizons, and the Borders College recently won two prestigious industry awards. In December, they won the innovation award at the Scottish Green Energy Awards 2017. The awards, hosted by Scottish Renewables, honour the determination and creative thinking which defines new approaches to sustainable energy.
SHARC Energy and Scottish Water Horizons were nominated in the innovation category for their ground-breaking project at Borders College, in Galashiels, which was launched in 2015. A month earlier, in November, the project was recognised for its positive impact on sustainability when Borders College won the Best Newcomer Award at the Green Gown Awards. These awards celebrate sustainability initiatives being undertaken in the university and college sector.
About Scottish Water Horizons
Scottish Water Horizons Ltd is a commercial subsidiary wholly owned by Scottish Water. The company plays a key role in supporting the development of Scotland’s sustainable and circular economy by making the most of the public utility’s vast array of assets.
From generating renewable energy from wind, solar power and waste water to recycling food waste and facilitating industry innovation, Scottish Water Horizons is helping Scotland meet its renewable targets, reduce carbon emissions and support sustainable development.
The company’s growth strategy is to support Scotland as a developing Hydro Nation and take opportunities to harness Scottish Water’s asset base through both its own development and working in partnership with other organisations including the public and private sectors.
About Clyde Gateway
Clyde Gateway is Scotland’s biggest and most ambitious regeneration programme. It is a partnership between Glasgow City Council, South Lanarkshire Council and Scottish Enterprise, backed by funding and direct support from the Scottish Government.
It is tasked, over a 20-year period until 2028, to lead the way on achieving unparalleled social, economic and physical change across our communities over an area of 840 hectares in the east end of Glasgow and in Rutherglen.
About SHARC International Systems
SHARC International Systems Inc. is a world leader in thermal heat recovery. SHARC™ technology 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 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:
Investor Relations
Jeff Walker
The Howard Group
Telephone: (888) 221-0915 or (403) 221-0915
Email: jeff@howardgroupinc.com
Jamie Hyland
SHARC International Systems Inc.
Telephone: (604) 442-2425
Email: jamie.hyland@sharcenergy.com
Martin Hardwidge
MHA Marketing Communications Ltd
Telephone: +44 07870 243804
martinh@mhamarketing.co.uk
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.
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