Low Carbon Heat Recovered from Wastewater: Second District Heat Network Powered by SHARC Energy Technology

VANCOUVER, BC, Canada — SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) (“SHARC” or “the Company”) is pleased to announce that the Company’s UK subsidiary SHARC Energy Systems (“SHARC Energy”) have been appointed to support the development of the new low temperature District Heating Scheme (“DHS”) in Stirling, Scotland.

The $10.6M (£6M) project is being developed between Stirling Council and Scottish Water Horizons, who have contracted FES Support Services Ltd as the main contractor to Design and Build the heat network and Energy centre to be located on the Stirling Forthside Wastewater Treatment Works. The new SHARC installation will be the second District Heating project in the UK to adopt SHARC Sewage Heat Recovery, with work due to complete in spring 2019.

SHARC Energy will work with main contractors FES Support Services Ltd to Design, Build and Operate (“DBO”) the Sewage Heat Recovery system and support an ongoing operating activity to deliver the 4th generation district heating service, designed to operate at a 60/40 flow and return temperature in the Forthside area of the town. The network will provide heating to several private and publicly owned buildings, with scope for the network to be expanded across the city to include homes, helping tackle fuel poverty and provide financial savings for businesses.

SHARC Energy’s technology reclaims heat from the waste water that homes and businesses pour down the drain every day, reusing it to generate low-carbon, low cost, sustainable clean heat that can displace the use of carbon intensive natural gas and other fossil fuels.This installation, alongside the new 2 MW capacity DHS currently being built by SHARC Energy in the Dalmarnock area of the Clyde Gateway regeneration program, provides further evidence of the opportunity to use large scale heat pumps to support the growing appetite for low carbon district heating now emerging across the UK.

UK-based SHARC Energy, a wholly owned European arm of Vancouver-based SHARC International Systems Inc. (CSE: SHRC) (FRANKFURT: IWI), has adopted Glasgow as its home for expansion across the UK and wider European Union, creating jobs and furthering the development of Scotland’s low carbon economy. The Canadian company has built a strong pipeline of projects across the UK, with a growing interest in using the pioneering renewable heat technology to help businesses make vital savings in energy, costs and carbon emissions.

Commenting on the new contract, SHARC’s Chief Operating Officer Russ Burton said, “The value of the waste water that flows beneath the streets of the world is a vital and largely untapped resource that could support a significant uptake of highly efficient Water Source heat pumps in Urban Centres, where space restrictions limit alternative approaches. By capturing some of the massive energy reserves held in our sewers we can significantly contribute to the circular economy and reduce the carbon emissions & other air pollutants that arise from combustion-based heating.

Burton continued “By taking a sub-contract role and supporting FES Support Services Ltd with our specialist services, this project provides us with an opportunity to explore how our business model can be flexed to create more opportunities to deploy our technology and we are hugely excited to work with the Stirling project team to ensure the success of this development.”

“As we start 2019 on a continued growth curve, I am very thrilled about the development of the new Stirling project and working with FES and the wider team, reaffirming our commitment from both sides of the pond to Scotland’s low carbon plans,” said Lynn Mueller, CEO of SHARC. “The formation of this strategic relationship that Russell and his team has put together is another step forward for SHARC and is part of our ongoing commitment to carbon emissions reduction with our customers through our technology.”

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

ON BEHALF OF THE BOARD

Lynn Mueller
Chairman and Chief Executive Officer

INVESTOR INQUIRIES

Hanspaul Pannu
Chief Financial Officer
(604) 475-7710 ext. 4

MEDIA INQUIRIES

Kamran Shaikh
Account Director, PR Associates
(778) 846-5406
[email protected]

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. 


[1] Sales Pipeline is a Non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the nine months ended September 30, 2021 MD&A.

[2] Sales Order Backlog is a Non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the nine months ended September 30, 2021 MD&A.

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