VANCOUVER, British Columbia, June 15, 2022 (GLOBE NEWSWIRE) — SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) (“SHARC Energy” or the “Company”), a world leader in energy transfer from wastewater, is pleased to announce that the Company and HTS Ontario (“HTS”), a representative of SHARC Energy products, have been selected to supply two PIRANHA T15 Wastewater Energy Transfer (“WET”) systems to be installed in Ottawa. These units will help a new housing complex recover the thermal energy from wastewater. This project represents the second PIRANHA site in Ottawa, Ontario. The units are expected to ship in the fourth quarter of 2022.
This deal is a key milestone as it marks the beginning of HTS’s growing SHARC Energy pipeline turning over and validates the Company’s strategy to support and leverage its representative network to help grow awareness and sales for its products in key markets.
“HTS is proud to represent SHARC Energy, a Canadian Company, in Ontario. Wastewater from buildings is an untapped resource for the HVAC industry. Having SHARC Energy’s experience and time-proven products will allow HTS to recover more heat and help us all generate less greenhouse gases,” said HTS Director, Canadian Operations, Paul Pilutti. “We have many projects in the planning and design phase and we anticipate significant growth in wastewater energy transfer projects.”
“We are excited about the growth of the Ontario Wastewater Energy Transfer market and we are grateful to have a strong partner in HTS Ontario supporting SHARC Energy as it pioneers this industry,” said SHARC Energy CEO Lynn Mueller. “Ottawa buildings are responsible for approximately 46% of community greenhouse gas emissions and we are proud to support the owners of the housing complex achieve their sustainability goals while helping the city achieve theirs.”
The PIRANHA WET system is an electrical hot water system that extracts thermal energy from wastewater and uses it to provide 100% of its hot water production at an average year-round efficiency of 400%. Every dollar of energy used to operate the system generates four dollars of output. The PIRANHA HC almost doubles that efficiency as this model provides simultaneous cooling as a by-product of hot water production.
SHARC Energy and HTS Ontario anticipate continued and accelerated growth in Ontario as policies supporting the adoption of WET products are passed. SHARC Energy and its district-scale WET system is well-positioned to support the City of Toronto’s Wastewater Energy Transfer Program which aims to reduce approximately 200,000 tonnes of GHG emissions annually while unlocking value for the City through the sale of thermal energy.
The SHARC WET system is installed in Vancouver’s False Creek Neighborhood Energy Utility, 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. The Company has nearly 30 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 the world leader in energy recovery from wastewater. SHARC Energy’s systems recycle thermal energy from wastewater, generating one of the most energy-efficient and economical systems for heating, cooling and hot water production for commercial, residential, and industrial buildings.
Headquartered in Toronto, Ontario, Canada, HTS is one of the largest independent commercial and industrial HVAC solutions providers in North America. With 7 offices and 400+ employees in Ontario, HTS is uniquely positioned to support and expand our business in this key market.
ON BEHALF OF THE BOARD
Chairman and Chief Executive Officer
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
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 because 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 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 applicable.
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