Flagship Colorado Project to Capture Energy in Wastewater resulting in Significant GHG-Reduction
Vancouver – (January 19, 2021) – SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) (“SHARC Energy” or the “Company”) is pleased to announce a landmark deal to install its GHG-reducing wastewater energy-recovery technology in what will be North America’s largest District Energy System.
Colorado’s National Western Center, an innovation hub being built in the heart of Denver to pioneer food and agricultural research, will use SHARC Energy’s technology to recover the heat in wastewater that would otherwise go down the drain every day. By recovering the energy in that wastewater, SHARC Energy systems will dramatically reduce fossil fuel use for heating and cooling, reducing energy costs and GHG emissions.
The National Western Center is pioneering the largest scale wastewater district-energy innovation in North America to date. The National Western Center will rely on two SHARC™ wastewater recovery systems placed in the heart of its 3.8-megawatt (MW) district energy system, creating a low-carbon campus that is sustainable and regenerative. The first phase of development is expected to recover the thermal energy from 3,000 gallons of wastewater that would otherwise be wasted and go down the drain every minute.
“To have our technology recognized and installed by this premier project, the largest wastewater district energy development in North America, is a major milestone for SHARC Energy,” said CEO Lynn Mueller. “This is one of many such projects we anticipate being involved in the U.S., Canada and other markets in 2021, as governments and business look to reduce energy costs and the reliance on fossil fuels — and reduce their carbon footprints — by tapping into the wastewater that goes down the drain every day.”
The National Western Center’s wastewater heat recovery system has already received widespread attention as an innovation to help developers align with the GHG reduction goals set forth in Denver’s Climate Action Plan. The Denver Post recently reported the National Western Center system will “prevent 2,600 metric tons of carbon dioxide from being emitted into the atmosphere each year by circumventing the need to burn fossil fuels.”
District Energy Systems are a quickly growing global opportunity that SHARC Energy is targeting as the world looks for low-carbon technologies for greater energy efficiency. According to a 2020 study from Fortune Business Insights, “the global district heating market size was USD $173.42 billion in 2019 and is projected to reach USD $204.74 billion by 2027, exhibiting a CAGR of 2.2% during the forecast period .”
As of January 19, 2021, SHARC Energy’s Sales Order Backlog is $1.3M. During 2021, the Company is focused on increasing the Sales Pipeline and working on moving projects through to Sales Order Backlog. The growth of these figures not only indicates the growth of SHARC Energy but the growth of the wastewater heat recovery industry.
The Wastewater Heat Recovery District Energy System for the 250-acre National Western Center campus will be owned and operated by EAS Energy Partners, a consortium of Enwave USA Holdings LLC, AECOM Technical Services Inc. and Saunders Construction. The district energy system is scalable to accommodate future phases of the National Western Center development and may require additional SHARC systems to meet capacity.
Upon shipment of the wastewater heat recovery system — expected in Q3 2021 — the Sales Order Backlog associated with the project will be recognized as Revenue in the Company’s published financial statements.
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 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 Energy is publicly traded in Canada (CSE: SHRC), the United States (OTCQB: INTWF) and Germany (Frankfurt: IWIA).
ON BEHALF OF THE BOARD
Chairman and Chief Executive Officer
For investor inquiries, please contact:
Chief Financial Officer
Telephone: (604) 475-7710 ext. 4
Email: [email protected]
For media inquiries, please contact:
Director of Marketing and IT
Telephone: (250) 212-2122
Email: [email protected]
The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.
 Sales Order Backlog is a Non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Q3 2020 MD&A filed on SEDAR (www.sedar.com).
 Sales Pipeline is a Non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the September 30, 2020 MD&A filed on SEDAR (www.sedar.com).