VANCOUVER, British Columbia, September 18th, 2020 — SHARC International Systems Inc. (CSE:SHRC) (FSE:IWIA) (OTCQB:INTWF) (the “Company” or “SHARC Energy”) is pleased to announce that the Company has completed the three-month demonstration project of the Incubatenergy© Labs 2020 Startup Services Agreement (“SSA”), demonstrating the PIRANHA™ HC’s ability to improve the sustainable energy profile of buildings while providing hot water and air conditioning from the thermal energy recycled from wastewater that would normally be lost down the drain.
SHARC Energy and it’s demonstration partners ─ Ameren Corporation, Con-Edison, Southern California Edison, Tennessee Valley Authority ─ have presented the findings of the demonstration conducted with the Electric Power Research Institute (“EPRI”) to EPRI members and the participating utilities in preparation for the free and open to the public Incubatenergy Labs and Ameren Accelerator Demo Day, scheduled for October 14, 2020, where SHARC Energy will be presenting to utilities, investors and other key stakeholders. The registration for Demo Day is open now and shareholders and other stakeholders are encouraged to join. Feedback from participating and partner utilities has been overwhelmingly positive.
The goal of the project was to demonstrate the performance of the PIRANHA HC ─ a self-contained central heat pump that uses a specifically designed direct expansion heat exchanger to extract thermal energy from a building’s wastewater for domestic hot water production and beneficial air conditioning ─ and quantify the overall energy savings and the associated greenhouse gas (“GHG”) reduction.
To date, the PIRANHA HC has been successfully running for the three months and demonstrated the capacity to completely offset the natural gas boilers at the site of the project in North Vancouver, British Columbia, at a 60-unit apartment complex.
During the demonstration, the PIRANHA HC confirmed its ability to produce 100% of the hot water at 140°F completely offsetting the use of gas boilers, an average Co-efficiency of Performance (“COP”) for hot water production of over 3.5 over the project term and peak COP of over 5, 60% saving in energy cost compared to the gas boilers and discovered a key benefit for cities globally – the reduction of Thermal water pollution. Thermal water pollution is the degradation of water quality by any process that changes ambient water temperature in rivers, lakes and oceans, harming the natural eco-system and potentially leading to melting sea ice.
The next steps to further validate SHARC Energy’s technology are demonstrations with an independent evaluation to quantify the performance over a longer period of time. Additionally, different types of sites such as larger apartment buildings, laundromats and commercial kitchens will be explored. The Company is in discussions with partner utilities to establish additional sites for implementation and it is anticipated that additional utilities will look to partner on additional projects within their regions/jurisdictions.
About SHARC International Systems
SHARC International Systems Inc. is a world leader in thermal heat recovery. SHARC 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).
ON BEHALF OF THE BOARD
Chairman and Chief Executive Officer
For further information, please contact:
Jason Shepherd, SHARC International Systems Inc.
Telephone: (250) 212-2122
Email: [email protected]
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 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 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 as a result of new information, future events or otherwise, except as required by applicable securities legislation.