SHARC Provides Update on Electrification 2020 and Incubatenergy Labs Challenge

VANCOUVER, British Columbia, March 10, 2020 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE:SHRC) (FSE:IWIA) (OTCQB:INTWF) (the “Company” or “SHARC”) announces that, further to the press release dated March 4, 2020, the Company has received notification from the Electric Power Research Institute (“EPRI”) that the Electrification 2020 International Conference and Exposition, originally set for April 6 – 9 in Charlotte, North Carolina, is postponed until early 2021 due to the latest information on coronavirus (COVID-19) and at the recommendation of EPRI’s Board of Directors and Executive Committee.

However, the Company is pleased that the Incubatenergy Labs Challenge is not cancelled. The Pitch Day scheduled for April 7, 2020, will be conducted virtually, via Webinar, and EPRI will work with all finalists and utilities to assign and schedule timeslots for finalists to pitch to the group.  The pitches, question and answer and deliberation sessions will be completed over April 7^th and 8^th.

“We are ecstatic that the Incubatenergy Labs Challenge will continue as planned” says Lynn Mueller, CEO of SHARC International. “The coronavirus is creating global uncertainty around many facets of business and we are thankful that EPRI has created a solution to allow for the program to continue as scheduled. This is a significant opportunity for SHARC and the other finalists and it would have been unfortunate if the program was postponed.”

About EPRI

The Electric Power Research Institute, Inc. (www.epri.com) conducts research and development relating to the generation, delivery and use of electricity for the benefit of the public. An independent, non-profit organization, EPRI brings together its scientists and engineers as well as experts from academia and industry to help address challenges in electricity, including reliability, efficiency, affordability, health, safety and the environment. EPRI members represent 90% of the electricity generated and delivered in the United States with international participation extending to 40 countries. EPRI’s principal offices and laboratories are located in Palo Alto, Calif.; Charlotte, N.C.; Knoxville, Tenn.; Dallas, Texas; Lenox, Mass.; and Washington, D.C.