VANCOUVER, British Columbia, July 28, 2020 (GLOBE NEWSWIRE) — Colorado’s first Net-Zero-Energy building for commercial lease and rent is taking delivery of the SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) (“SHARC Energy” or the “Company”) wastewater energy system, to meet the development’s ground-breaking approach to reducing energy use in leased buildings.
The SHARC Energy system, called PIRANHA™, is crucial to that objective by capturing the heat in wastewater and reusing the energy. The PIRANHA has been shipped and will now be installed in the Boulder Commons development, one of the United States’ premier projects projected to achieve Net-Zero-Energy (“NZE”) and Net Zero Carbon goals.SHARC Energy’s PIRANHA system, which is designed for a variety of industrial, commercial and multi-family residential building applications, will capture the heat in the residential building’s wastewater and then use it to heat the hot water for showers and sinks. This will reduce energy use and energy costs for owners, tenants and residents of the Boulder Commons complex.“We are proud to be part of Boulder Commons, which is pioneering the way to reduce the energy we too often waste in our commercial and residential buildings,” said SHARC Energy’s CEO and Chairman Lynn Mueller. “The water we send down the drain daily contains heat, which SHARC re-captures and uses again and again. This project is part of our plan to bring both economic and environmental value to the water we too often discard, forgetting it contains valuable energy that can be recaptured for positive bottom-line and environmental benefits.”The success of Boulder Commons’ renewable energy systems is being carefully watched by the Rocky Mountain Institute, the leading US think-tank on renewable energy use, which has its Boulder office inside the complex.The Rocky Mountain Institute highlights Boulder Common’s as an important milestone for the United States because “the number of leased Net-Zero-Energy buildings lags significantly behind owner-occupied projects. Over half of commercial buildings nationally are leased, so this presents a significant impediment to meeting carbon reduction targets. Boulder Commons boasts Colorado’s first NZE lease, and the first NZE lease in the country for a project of this size, setting a new precedent for other landlords and tenants to follow.”The PIRANHA will be installed in 3200 Bluff Street, the second phase of Boulder Commons, which involves two-building consisting of 98,000 square feet. One building will consist primarily of offices and the second building will be a multi-family residential building. There will also be retail space on the first floor of both buildings.Integral group, which provided assistance with the MEP design and energy modeling, has described the PIRANHA as part of “a unique system (that) will extract heat from the residential wastewater to help meet aggressive energy reduction targets.”Aside from the PIRANHA and PIRANHA HC, which provides water heating and water heating and air conditioning, respectively, the Company also has the SHARC™ system, which is a wastewater energy recovery system for projects with access to wastewater flow rates ranging from 100 gallons per minute (gpm) to 4500 (gpm). These flow rates are typically seen in industrial applications and larger developments, or projects with access to sewer lines.“Developers will have a difficult time achieving Net-Zero-Energy building envelopes without conserving the energy that goes down the drain every day,” added Mueller. “We believe that SHARC will continue to be seen as a smart investment by developers, owners and residents.”SHARC International Systems Inc. is a world leader in energy recovery from the wastewater we send down the drain every day. SHARC Energy 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 Energy 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:
Jason Shepherd
Investor Relations
SHARC International Systems Inc.
Telephone: (250) 212-2122
Email: jason.shepherd@sharcenergy.comThe Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.Forward-Looking Statements
Certain 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 Energy’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 Energy 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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