SHARC wins “Incubatenergy Lab Challenge” by EPRI

VANCOUVER, British Columbia, May 21, 2020 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE:SHRC) (FSE:IWIA) (OTCQB:INTWF) (the “Company” or “SHARC”) is pleased to announce that it has won the opportunity to collaborate on a pilot project funded by the Electric Power Research Institute (“EPRI”) after presenting at the Incubatenergy Labs Challenge. After being selected as 1 of 17 finalists from a pool of over 130 applicants, SHARC made a virtual pitch on April 7^th. The Company has now been selected as 1 of 10 companies to demonstrate innovative power delivery and use technologies under the leadership of EPRI, Ameren Corporation, Tennessee Valley Authority and Southern California Edison. Nine additional utilities will participate in the projects to provide industry perspective and guidance.

Incubatenergy Labs is a project created by EPRI that connects early-stage businesses focused on electrification and decarbonization with utilities and industry stakeholders. By combining introductions at EPRI sponsored summit with collaborative paid demonstration projects, EPRI links leading start-ups with utilities that have the capacity to further these innovative technologies.

Through our innovative wastewater heat recovery systems, SHARC has earned a paid demonstration supported by Incubatenergy Labs. The project will commence on June 1st and SHARC will work with EPRI and participating American utilities to install a PIRANHA HC. The results will be presented at the Incubatenergy Labs “Demo Day” currently scheduled for October 14, 2020 in St Louis, Missouri and hosted by Ameren Corporation.

The PIRANHA HC simultaneously provides air conditioning and hot water heating. This feature effectively doubles the efficiency of the unit by providing two significant functions for a building utilizing recycled energy from waste water that would otherwise be lost down the drain. During SHARC performed preliminary testing, the unit achieved a Co-Efficiency of Performance (“COP”) of more than 5 or 500% in a base case scenario. This paid demonstration project marks the first installation of a PIRANHA HC unit and the Company is energized with this significant milestone.