SHARC Energy Chosen to Provide Wastewater Energy Recovery for Seattle’s Greenest Residential Building Complex

• First PIRANHA T15 unit ships in Q1 2021
• Announces $3.0M non-brokered equity private placement

VANCOUVER, British Columbia, Dec. 02, 2020 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE:SHRC) (FSE:IWIA) (OTCQB:INTWF) (the “Company” or “SHARC Energy”) is pleased to announce its wastewater energy recovery technology will be placed in what is expected to be Seattle’s greenest apartment tower.

Sustainable Living Innovations, LLC (“SLI”), a world leader in advanced panelized building design and construction, has agreed to purchase one of SHARC Energy’s PIRANHA T15 units, which will recover the thermal energy from the water that will go down the drains of the 303 Battery project (“303 Battery”). The unit is expected to ship in the first quarter of 2021.

The 15-story, 112-unit complex at 303 Battery Street, in Seattle’s Belltown neighbourhood, will also be one of the first residential towers to be certified as Zero Net Energy by the International Living Future Institute (“ILFI”), according to SLI.

“It is a major achievement for SHARC Energy to be chosen for such a prestigious project that is truly at the cutting edge of sustainability and design,” said SHARC Energy CEO Lynn Mueller. “The PIRANHA is a breakthrough technology in recovering the energy from the water we now put down the drain every day. It’s an honour to be selected as a key technology to run what will be Seattle’s greenest building, and one of the world’s first to achieve Zero Net Energy certification.”

Zero Energy Certification means that a “building is truly operating as claimed, harnessing energy from the sun, wind or earth to produce net annual energy demand through a third-party audit of actual performance data,” according to ILFI.

SHARC Energy’s PIRANHA systems are now being fully commercialized and being used — or will soon be installed — in Colorado, Washington State, British Columbia, Alberta, Ontario and in Australia.

The PIRANHA systems are a wastewater heat pump, designed to be installed in new or refurbished buildings, to capture wastewater in a single tank and transfer the thermal energy back into a buildings hot water, heating and cooling systems at an average Co-efficient of Performance (“COP”) of 3.5. The wastewater, with excess heat removed, is later released in a controlled flow into the sewer system for treatment. Recovering the thermal energy means reducing or eliminating the need for fossil fuels or electricity for hot water, heating, and cooling, which leads to lower utility and operating costs.