VANCOUVER, British Columbia, March 17, 2022 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) is announcing it has entered into a non-binding Letter of Intent (“LOI”) with Pontus Protein Ltd. (“Pontus”) (TSXV: HULK) (FSE: 8YC) (OTCQB: HLKKF) for the purpose of integrating the PIRANHA Wastewater Energy Transfer (“WET”) system at Pontus’s aquaponic facility in Surrey, B.C. and any future facilities that Pontus may build.
The PIRANHA WET system is a self-contained electric heat-pump system that will efficiently recover the thermal energy from the water that goes down the drain in a building daily and utilize it to provide up to 100% of a building’s hot water demand while reducing up to 100% of the carbon emissions associated with traditional hot water heating. On average, for every $1 of energy used by the PIRANHA, the WET system is able to provide an output of $4.
Pontus is an agricultural technology company that is reinventing agriculture with their proprietary Closed Environment Vertical Aquaponic System (“CEVAS”) which helps the company specialize in indoor vertical farming of water lentils that use 95% less water than traditional agriculture, using no pesticides or chemicals, grown and harvested every 24 hours, exceed organic certification and can be grown in any climate in a relatively small area.
Sustainability is very important to Pontus as demonstrated by the recycling and reuse of 95% of the water it uses in the water lentil growing and processing at their facility. This focus on sustainability is what attracts Pontus to the PIRANHA.
“Sustainability is at our core and we are excited to work with SHARC to integrate their highly efficient heat pump system to reduce our impact on the environment,” says Connor Yuen, CEO of Pontus Protein Ltd. “Looking forward, we want to develop facilities that can be placed anywhere in the world and with minimal inputs consistently delivering highly nutritious food. We believe the PIRANHA WET system will be core technology to deliver this.”
“Working with sustainably conscious companies is a perfect fit for SHARC,” says Lynn Mueller, CEO of SHARC Energy. “Pontus is a cutting edge agri-tech company from the Vancouver area that is doing some amazing things with its CEVAS system and we are here to help support their sustainability goals in any way we can.”
The LOI will remain in place until the earlier of a purchase order being issued or six months from the date of the LOI.
About SHARC Energy
SHARC International Systems Inc. is a world leader in energy recovery 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
About Pontus Protein Ltd
This is our future – the future of farming; Pontus Protein Ltd. is a Vancouver-based agricultural food and technology company focused on creating and acquiring the best technology. Highly sophisticated, AI-engineered robots, combined with our proprietary vertical farming and a commitment to sustainability. Our intellectual property optimizes efficiency for a shorter growing time and high productivity. We deliver healthy, affordable foods and nutrients into every diet in a closed, controlled environment avoiding all pesticides and GMOs.
Pontus Protein is publicly traded in Canada (TSXV:HULK), the United States (OTCQB: HLKKF) and Germany (FSE: 8YC) and you can find out more on our SEDAR profile.
Learn more about Pontus: Website | Investor Page | LinkedIn | YouTube | Twitter
ON BEHALF OF THE BOARD
Lynn Mueller
Chairman and Chief Executive Officer
| For investor inquiries, please contact: | For media inquiries, please contact: |
| Hanspaul Pannu | Mike Tanyi |
| Chief Financial Officer | Director of Marketing and IT |
| SHARC Energy | SHARC Energy |
| Telephone: (604) 475-7710 ext. 4 | Telephone: (604) 475-7710 ext.109 |
| Email: hanspaul.pannu@sharcenergy.com | 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.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1c02565b-24c9-4160-a9d1-1617e6749151
