January 27, 2020
VANCOUVER, BRITISH COLUMBIA, Canada — SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) (“SHARC” or “the Company”) is pleased to announce that the Company has selected low global warming potential (“GWP”) refrigerants Opteon™ XP10 (R-513A) for next generation PIRANHA™ units.
SHARC selected The Chemours Company FC, LLC (“Chemours”) and its Opteon™ XP10 (R-513A), because it offers a non-ozone depleting, low GWP hydrofluoro-olefin (“HFO”) based refrigerant developed with a 56% reduction to replace R-134a in positive displacement, direct expansion, medium-temperature commercial and industrial fixed speed systems, chillers, and heat pumps (HP) such as the PIRANHA™ while providing improved energy efficiency, similar capacity, and excellent design compatibility.
Tim McRae, Technical Manager, Account at The Chemours Company said “We are excited that SHARC chose Chemours and Opteon™ XP10 for its next gen PIRANHA. This collaboration will help SHARC engage in a more environmentally sustainable refrigerant solutions while meeting global regulatory requirements and delivering reliable performance.”
Opteon™ XP10 is non-flammable, with an ASHRAE A1 safety classification and has significantly smoother management on the operating envelope, which makes HP application simpler to manage. Opteon™ XP10 is an excellent capacity and efficiency match for R-134a in new systems, as well as for retrofit of existing systems, offering an optimal balance of properties including high energy efficiency and environmental sustainability.
Piranha is the greenest domestic hot water production system in the world, and we need to aggressively get the GWP number lowered said Lynn Mueller, CEO, SHARC Energy Systems. Opteon™ XP10 is the first step in our quest to get to zero. We look forward to working with management team at Chemours to get that mission accomplished.”
About PIRANHA™ System
The PIRANHA™ system’s self-contained heat pump uses a proprietary direct expansion heat exchanger to extract thermal energy. In this application, it will collect hot wastewater from the building’s units and reuse the waste energy at 500% efficiency while providing free air conditioning. Rather than draining into a sewer as is the currently accepted wastewater practice, the heat energy in this water will be recovered. The water will act as a source for the heat pump, which will then be used to heat incoming cold water for future loads, drastically reducing energy requirements. The PIRANHA™ wastewater heat recovery system from SHARC International Systems Inc. is the first of its kind in the HVAC market and has redefined green building innovation.
About Chemours Company
The Chemours Company (NYSE: CC) helps create a colorful, capable and cleaner world through the power of chemistry. Chemours is a global leader in fluoroproducts, chemical solutions, and titanium technologies, providing its customers with solutions in a wide range of industries with market-defining products, application expertise and chemistry-based innovations. Chemours ingredients are found in refrigeration and air conditioning, mining and general industrial manufacturing, plastics and coatings. Our flagship products include prominent brands such as Teflon™, Ti-Pure™, Krytox™, Viton™, Opteon™, Freon™ and Nafion™. Chemours has approximately 7,000 employees and 28 manufacturing sites serving approximately 3,700 customers in North America, Latin America, Asia-Pacific and Europe. Chemours is headquartered in Wilmington, Delaware and is listed on the NYSE under the symbol CC.
About SHARC International Systems
SHARC International Systems Inc. is a world leader in thermal heat recovery. SHARC™ technology 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 is publicly traded in Canada (CSE: SHRC), the United States (OTCQB: INTWF) and Germany (Frankfurt: IWIA).
Further information about the Company is available on our website at www.sharcenergy.com or under our profile on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD
Chairman and Chief Executive Officer
For further information, please contact:
SHARC International Systems Inc.
Telephone: (604) 442-2425
Email: [email protected]
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the Canadian Securities Exchange) accepts 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 by the use of 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’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 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 as a result of new information, future events or otherwise, except as required by applicable securities legislation.