VANCOUVER, British Columbia, May 03, 2022 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”), a world leader in energy transfer with wastewater, is pleased to announce that the Company has received a purchase order from California | Columbia Hydronics Corporation (“CHC”), a representative of SHARC products in Alaska, Washington, Oregon, Northern California (north of San Luis Obispo/Kern/San Bernardino county lines) and Nevada. SHARC Wastewater Energy Transfer (“WET”) system will be installed in the heart of Seattle, a few minutes from the Space Needle, showcasing the power of wastewater in the heart of the Pacific Northwest.
The project will be taking advantage of the King County Wastewater Heat Recovery Pilot Project program being pioneered by the King County Wastewater Treatment Division. The pilot program provides for no WET fees to be charged in exchange for the operational data of the WET systems for the first three years of operation. This pilot program is the first of its kind in North America. Seattle is the latest US city demonstrating global leadership in addressing climate action with innovative solutions to address the carbon emission reduction required to curb climate action.
Lynn Mueller, CEO of SHARC Energy
“We are excited to have the first SHARC WET system installed in the pacific northwest of the USA and to support King County achieve its goal of recovering energy from the sewer. We anticipate the interest in SHARC technology will continue to grow as the global focus on reducing the use of fossil fuels is accelerated through policy and incentives. We would also like to thank the CHC team for this win and for supporting us to continue to grow the awareness of SHARC WET projects and its installation footprint in our key target markets.”
SHARC WET system is an engineer accepted low carbon and ecofriendly heating and cooling solution that cities and developers can utilize to promote a circular economy, decarbonize hot water and space heating, reduce the use of freshwater in cooling towers and reduce the ambient temperature of wastewater to acceptable levels for treatment and discharge. This WET equipment is able to exchange thermal energy from and into high volumes of wastewater with a minimal footprint, higher efficiency and superior filtration when compared to alternative WET equipment on the market.
This representative purchase order demonstrates the ability of our highly reputable network to generate opportunities for WET projects and the continued growth and expansion of SHARC technology across the United States. The SHARC WET system is installed in D.C Water Administrative Building in Washington, D.C. and the National Western Center, North America’s largest WET District Energy System in Denver, Colorado. SHARC Energy’s team along with its representatives are working on a growing list of WET projects at various stages of feasibility, design and planning across the country.
Brandon R. McCann, Sales Engineer at CHC Hydro
“Truly passionate. Those are the two best words I can use to describe everyone on the team that helped make this technology a reality here in our back yard, Seattle, WA. SHARC’s technology is second to none and we are confident this technology will be a catalyst for a greener future here in the Emerald City and beyond.”
This WET project doesn’t represent the only installation of SHARC technology in the Pacific Northwest either. SHARC Energy’s PIRANHA T15 WET System is being installed at 303 Battery, one of the first residential towers in the world to be certified as Zero Energy by the International Living Future Institute. The PIRANHA WET system is an electrical hot water system that extracts the thermal energy from a building’s wastewater and uses it to provide 100% of its hot water production at an average year-round efficiency of 400%. This means for every $1 of energy used to operate the system, it is able to generate $4 worth of output.
There are over 25 installations of SHARC and PIRANHA WET systems installed or in progress in the United States, Canada, United Kingdom and Australia.
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 Series | SHARC Series
ON BEHALF OF THE BOARD
Lynn Mueller
Chairman and Chief Executive Officer
| For investor inquiries, please contact: Hanspaul Pannu Chief Financial Officer SHARC Energy Telephone: (604) 475-7710 ext. 4 Email: hanspaul.pannu@sharcenergy.com | For media inquiries, please contact: Mike Tanyi Director of Marketing and IT SHARC Energy Telephone: (604) 475-7710 ext.109 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.
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A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/ce945065-09ba-4351-ba51-85df01d42ac9
