SHARC Energy at Forefront of Alexandria’s Sustainable Mega Campus Initiative

SEATTLE, Oct. 20, 2023 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) is pleased to provide an update to a previously disclosed project in the heart of Seattle. SHARC Energy is honored to have collaborated with King County, McKinstry and esteemed real estate firm Alexandria Real Estate Equities, Inc. (“ARE”) in unveiling a cutting-edge sewer heat recovery system, commonly referred to as a Wastewater Energy Transfer (“WET) system, at the Alexandria Center for Life Science in South Lake Union, Seattle. This initiative clearly demonstrates the benefits of public-private partnerships based on King County's progressive sustainable legislation.

By utilizing the consistent 70-degree wastewater temperature from the sewer system, wastewater treated as a renewable resource offers a sustainable alternative to traditional energy sources. It is anticipated that the SHARC WET system will reduce carbon emissions by an astonishing 99% while providing 70% of the heating needs to the campus compared to a standard laboratory building in Seattle.

At the heart of this sustainable project lies the SHARC WET System, engineered to serve the 1.6 million-square-foot life science mega campus. The system captures heat from a King County sewer pipeline, transmitting the reclaimed energy through a heat pump to warm the campus's facilities. The project is beneath ARE’s 701 Dexter Avenue North development, with full operational status envisioned by 2025.

A key milestone in the project was when McKinstry connected the County’s century-old main sewer line to Alexandria’s system, demonstrating the feasibility of wastewater energy in urban landscapes. McKinstry's expertise further demonstrates the collective competency propelling this project.

King County's recent press release on October 19, 2023, highlights its commitment to sustainable practices, setting a remarkable precedent for other regions. The leadership shown by King County’s Sewer Heat Recovery Program shows how they are actively nurturing commercial interest in renewable energy solutions, combating climate change, and mitigating energy costs. Currently, there remains 2 project spaces open under the program where approved projects will not be required to pay transfer fees for three years in exchange for the operational data.