SHARC Energy Reports on Q3 2020 - Seite 2

Subsequent Accomplishments

• On October 14^th, 2020, utilities, municipalities and private sector investors in the United States were shown results achieved during a three-month demonstration of a unique wastewater thermal recovery technology PIRANHA HC at the EPRI sponsored Incubatenergy Labs and Ameren Accelerator Demo Day. Key results of the demonstration included:
  • 61 per cent energy savings reported by building management.
  • 99 per cent GHG reduction from gas boiler use.
  • Production of 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.
  • Reduction of thermal water pollution. PIRANHA HC removes the heat from wastewater, so that it reduces impact on ambient water temperature in rivers, lakes, and oceans when it is released.

• SHARC Energy has been selected to participate in two programs through Global Affairs Canada Trade Commissioners Service. The Company will be participating in the Canadian Technology Accelerator focused on promoting Canadian Cleantech companies in Southeast Asia and more specifically, the ASEAN region. The Company is also participating in a B2B matchmaking Virtual Trade Mission for Canadian Water and Wastewater companies and Brazilian companies and organization in the public and private sector.
  

“Q3 2020 is the largest revenue quarter we have had in over two years and saw a number of promising developments for wastewater energy recovery and SHARC Energy,” says Hanspaul Pannu, Chief Financial Officer of SHARC Energy, “The Company is encouraged by the results and feedback from the EPRI demonstration and the relationships created. As the Company continues to bring awareness to the PIRANHA as a key player in the energy retrofit market, it will look to leverage these relationships created to penetrate the market. We are focused on driving growth through additions to sales pipeline and sales order backlog generation and that is where the focus lies for the remainder of 2020 and moving forward.”