VANCOUVER, British Columbia, Dec. 19, 2019 (GLOBE NEWSWIRE) — Sharc International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) (“SHARC” or “the Company”) and Environmental Technology Solutions Pty Ltd. (“ETS”) are pleased to announce that Meriton Property Services Pty Ltd (“Meriton Suites”) have completed installation and commissioning of a PIRANHA™ at the new Meriton Suites Sussex Street, Sydney.
Meriton Suites Sussex Street is the newest offering in Meriton collection of luxury apartment-style hotel accommodation. The new hotel is 32 levels high and offers 301 suits with a selection of studio, one-, two- and three-bedroom designs. The hotel is located in the historic warehouse district of Sydney a short walk away from Darling Harbour and Barangaroo as well as Town Hall and the Queen Victoria Building shopping precincts.“For everyone who appreciates the importance of preserving Australia’s water resources, it made sense for serious reduction in water and energy use and greenhouse gas emissions, Meriton Suites looked at hands-on ways in aiding these conservation efforts and found the perfect solution with ETS and in the SHARC™ wastewater heat recovery systems,” said Rick Edwards, Director of ETS.As a result, the installation of the PIRANHA™ system will provide the following benefits to the Meriton Suites Sussex Street:Will reduce emissions by over 100 tonnes of CO2 each year, taking the equivalent of 50 cars off the road.It is estimated that it will produce on average 25,000 L (6,604 gal) of hot water on a daily basis.The brand new hotel boasts jaw-dropping views, oversized suites, gourmet kitchens, designer bathrooms and five-star service we are renowned for. The hotel reception co-exists with the neighbouring Foley Bros heritage building with a five-story lobby and is architecturally designed to frame Darling Harbour and the surrounding city with the new building.“When we first discussed with ETS on possible companies in Australia that could use our technology, they knew that Meriton Suites would be a good fit,” said Lynn Mueller, CEO, SHARC Energy Systems. “The management team at Meriton Suites embraced carbon reduction and its immediate environmental benefits. We are very pleased to be working with ETS, Australia’s top environmental solutions company, and look forward to 2020 with announcements of further installations.”The PIRANHA™ system’s self-contained heat pump uses a proprietary direct expansion heat exchanger to extract thermal energy. In this application, it will collect hot water from the building’s units. Rather than draining into a sewer as is the currently accepted wastewater practice, the heat energy in this water will be recovered. The water will act as a source for the heat pump, which will then be used to heat incoming cold water for future loads, drastically reducing energy requirements. The PIRANHA™ wastewater heat recovery system from SHARC International Systems Inc. is the first of its kind in the HVAC market and has redefined green building innovation.About Meriton SuitesMeriton Suites is owned & operated by Meriton Property Services Pty Ltd and has 19 establishments and a total of 4,953 suites, making it Australia’s largest owner of hotel rooms. Known for their exceptional living spaces and amenities, Meriton Suites delivers a world-class experience to their guests. Hotel staff and guests demand a significant amount of hot water and most of that energy is lost down the drain. With the installation of their first PIRANHA™ wastewater heat exchange system, Meriton Suites is recognizing guest preferences for eco-friendliness, while substantially decreasing energy costs within their hotel’s daily operations.Further information about Meriton Suites is available on their website at www.meritonsuites.com.auAbout Environmental Technology SolutionsETS is a solutions provider in the fields of energy efficiency and sustainability. We pride ourselves on our ability to harness real collaboration and leading-edge technologies in delivering outcomes for our clients. Our goal is to make change in the way people produce and consume energy such that the legacy we leave is a planet that will sustainably support the human race for future generations. ETS licenses, designs, manufactures, and supplies complete systems and unique technology solutions: Combined Heat and Power, Waste Heat Recovery, Waste-to-energy as well as hybrid systems and renewable technologies. ETS are also specialists in a complete range of emissions treatment devices and solutions. Our product is to allow our clients to concentrate on their core business while we make that business more efficient, sustainable, kinder to the environment and profitable as a result. At ETS we strive to embody the “Triple Bottom Line” in everything we do.Further information about ETS is available on their website at www.etsprojects.com.auAbout SHARC International SystemsSHARC International Systems Inc. is a world leader in thermal heat recovery. SHARC™ technology systems recycle thermal energy from wastewater, generating one of the most energy efficient and economical systems for heating, cooling & hot water preheating for commercial, residential and industrial buildings. SHARC is publicly traded in Canada (CSE: SHRC), the United States (OTCQB: INTWF) and Germany (Frankfurt: IWIA).Further information about the Company is available on our website at www.sharcenergy.com or under our profile on SEDAR at www.sedar.com.ON BEHALF OF THE BOARD“Lynn Mueller”
Chairman and Chief Executive OfficerFor further information, please contact:Investor Relations
Jamie Hyland
SHARC International Systems Inc.
Telephone: (604) 442-2425
Email: [email protected]Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.Forward-Looking StatementsCertain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of words such as “anticipate”, “plan”, “estimate”, “expect”, “may”, “will”, “intend”, “should”, and similar expressions. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. SHARC’s actual results could differ materially from those anticipated in this forward-looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, and other factors, many of which are beyond the control of the Company. SHARC believes that the expectations reflected in the forward-looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Any forward-looking information contained in this news release represents the Company’s expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
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