VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 19, 2017) - Sharc International Systems Inc., ("SHARC" or the "Company") (CSE:SHRC)(CSE:SHRC.CN)(CNSX:SHRC)(FRANKFURT:IWIA) (OTCQB:INTWD) is pleased to announce a corporate update on the Company and outlines its strategy going forward.
SHARC has spent the last six years researching and developing its award-winning technology which recycles heat from wastewater on a carbon reduced basis, but very much on a true economic basis as well. This year marks a watershed year for the Company as it transitions from research and development, to the commercialization of its innovative heat recycling technology.
Earlier this year as part of this transition, the Company changed its name from International Wastewater Systems Inc. to Sharc International Systems Inc., as it better reflects the strategy as the Company moves into commercialization, and embarks on a sales and deployment program to ensure SHARC is strengthening its first to market advantage to all parts of the world.
During this period, the Company has installed 14 systems providing heating and cooling to over 5 million square feet on several continents, explored new international markets, refined and developed the SHARC™ and PIRANHA™ through pilot projects and rigorous testing, and we have successfully developed the most efficient method of deploying our technology and services.
The Company has developed a preferred system of service delivery through a focus on equipment sales and Heat Purchase Agreements ("HPA"). Through the Company's efficient system of service delivery, SHARC continues to work with end users to improve their energy efficiency and carbon reduction program.
Scotland and California have provided receptive environments as regulatory compliance has driven a demand for clean energy technology. Both jurisdictions have set aggressive emission targets and have invested heavily in creating a cleaner economy, thereby meeting their ambitions to mitigate climate change.
The Scottish Government is committed to aggressively cut carbon emissions through the implementation of clean technology. Their renewable energy policies and incentives continue to provide a thriving market for SHARC technology. The Company's strategic alliance with the Scottish Government's public water utility, Scottish Water, has established five initial projects. Construction has commenced and completion is expected by Q3- 2018. As a global leader in combating climate change, Scotland has also provided the ideal location for the SHARC's newly established European Headquarters, from which the Company expects to expand throughout Scotland and the rest of European Union.
In California, the California Energy Commission has played an instrumental role in the State's energy policy and its transition from fossil fuels, providing the ideal marketplace for the Company's wastewater heat recycling technology. SHARC has created strategic alliances with local partners for growth, such as Prospect Silicon Valley and RENEW Energy Partners LLC. The Company will be shortly announcing an update on Title 24 Testing and UL Certification, requisite for completing sales in California.
While conducting the necessary research and development through pilot projects, tests, and certifications, has caused delays to the Company's Scotland and California projects thus far, these processes have provided SHARC with the necessary foundation to launch into commercialization and expand across the globe.
Lynn Mueller CEO stated, "Six years of building and developing the SHARC systems with a hard-working team of engineers and designers has brought us to this next chapter. We look forward to showing everyone this world class clean energy technology the team has brought us, as we all becoming stronger together on combating climate change."
About Sharc International Systems Inc.
Sharc International Systems Inc. is a world leader in thermal heat recovery. SHARC systems recycle thermal energy from wastewater, generating the most energy efficient and economical systems for heating, cooling & hot water for commercial, residential and industrial buildings. SHARC is publicly traded in Canada (CSE:SHARC), the United States (OTC:INTWD) and Germany (Frankfurt:IWIA).
ON BEHALF OF THE BOARD
Lynn Mueller, Chairman and Chief Executive Officer
The CSE does not accept responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.