VANCOUVER, British Columbia, July 29, 2019 (GLOBE NEWSWIRE) -- Sharc International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC" or "the Company") is pleased to announce that the Company has entered into an agreement with RER Technologies Inc. (“RER”) to sell ten SHARC™ units (“Units”) into People's Republic of China with exclusive use with Mammoth (Zhejiang) Air Conditioning Ltd. (“Mammoth China”) located in the city of Huzhou, in the province of Zhejiang, China.
The SHARC™ system’s self-contained unit uses a proprietary sewage filtration system that integrate with a heat exchanger to extract thermal energy. Rather than discarding the thermal energy in the sewer, as is the currently accepted waste water practice, the heat energy in this water will be recovered.
Mammoth China will supervise all sales and instillation of five (“5”) Model 660 SHARC’s and five (“5”) Model 880 SHARC Units. Delivery will begin in the 4th quarter (Q4) of 2019 and completion of the order in 1st quarter (Q1) of 2020. Mr. Ng from Mammoth China is an engineer with over 40 years’ experience in the HVAC industry. Mr. Ng co-founded and established numerous manufacturing facilities in China since 1985, and is currently the Chairman & Co-Founder of Mammoth China. Mr. Ng renewable energy products have been used in thousands of projects around the world, totaling more than 200 million square feet of development over the last ten years.
Mammoth China will train Field Service Technician and will handle all installations of the Units, and provide ongoing service of the Units. The SHARC™ wastewater heat recovery system is the first of its kind in the HVAC market and has redefined green building innovation.
Chairman & Co-Founder of Mammoth China Ng stated, “By leveraging Mammoth's expertise in serviceing the Chinese HVAC market and preferences in products, Mammoth was able to help SHARC reduce the concept to launch time in the Chinese marketplace. This helps SHARC to have an exact perspective on what developers like and need. Such awareness is crucial as they determine what HVAC products are to be introduced into China and how to position SHARC to generate the biggest appeal for Mammoth customers.”
“When we first discussed doing business China we knew that the SHARC would be a great fit for the country as it works on reducing energy-related carbon emissions,” said Lynn Mueller, CEO of SHARC Energy Systems. “The first sale into China with the team at Mammoth represents a huge opportunity and important and historical milestone for SHARC and with our future long-term collaboration with Mammoth in China."
About Mammoth China
Mammoth entered the Chinese market in 1997 to promote Water Sources Heat Pump products, engaged in promoting the usage of renewable energy and technologies. In 2001, Mammoth (Shanghai) Air Conditioning Ltd was established as the China operation headquarters and has been very active in the Chinese market. In 2004, Mammoth is proud to invest in our own head office premises as well as our brand new advanced manufacturing facility - Mammoth (Zhejiang) Air Conditioning Ltd in Zhejiang, China as the Production & R&D Center in Asia.
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
Phone: (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
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.