SHARC Energy’s PIRANHA HC Poised for Labs Challenge Demo Day

VANCOUVER, British Columbia, Sept. 18, 2020 (GLOBE NEWSWIRE) — SHARC International Systems Inc. (CSE:SHRC) (FSE:IWIA) (OTCQB:INTWF) (the “Company” or “SHARC Energy”) is pleased to announce that the Company has completed the three-month demonstration project of the Incubatenergy© Labs 2020 Startup Services Agreement (“SSA”), demonstrating the PIRANHA™ HC’s ability to improve the sustainable energy profile of buildings while providing hot water and air conditioning from the thermal energy recycled from wastewater that would normally be lost down the drain.

SHARC Energy and its demonstration partners ─ Ameren Corporation, Con-Edison, Southern California Edison, Tennessee Valley Authority ─ have presented the findings of the demonstration conducted with the Electric Power Research Institute (“EPRI”) to EPRI members and the participating utilities in preparation for the free and open to the public Incubatenergy Labs and Ameren Accelerator Demo Day, scheduled for October 14, 2020, where SHARC Energy will be presenting to utilities, investors and other key stakeholders. The registration for Demo Day is open now and shareholders and other stakeholders are encouraged to join. Feedback from participating and partner utilities has been overwhelmingly positive.

The goal of the project was to demonstrate the performance of the PIRANHA HC ─ a self-contained central heat pump that uses a specifically designed direct expansion heat exchanger to extract thermal energy from a building’s wastewater for domestic hot water production and beneficial air conditioning ─ and quantify the overall energy savings and the associated greenhouse gas (“GHG”) reduction.

To date, the PIRANHA HC has been successfully running for the three months and demonstrated the capacity to completely offset the natural gas boilers at the site of the project in North Vancouver, British Columbia, at a 60-unit apartment complex.

During the demonstration, the PIRANHA HC confirmed its ability to produce 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, 60% saving in energy cost compared to the gas boilers and discovered a key benefit for cities globally – the reduction of Thermal water pollution. Thermal water pollution is the degradation of water quality by any process that changes ambient water temperature in rivers, lakes and oceans, harming the natural eco-system and potentially leading to melting sea ice.

The next steps to further validate SHARC Energy’s technology are demonstrations with an independent evaluation to quantify the performance over a longer period of time. Additionally, different types of sites such as larger apartment buildings, laundromats and commercial kitchens will be explored. The Company is in discussions with partner utilities to establish additional sites for implementation and it is anticipated that additional utilities will look to partner on additional projects within their regions/jurisdictions.

About SHARC International Systems
SHARC International Systems Inc. is a world leader in thermal heat recovery. SHARC 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 SEDAR at www.sedar.com.

ON BEHALF OF THE BOARD
“Lynn Mueller”
Chairman and Chief Executive Officer

For further information, please contact:
Jason Shepherd, SHARC International Systems Inc.
Telephone: (250) 212-2122
Email: jason.shepherd@sharcenergy.com

The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements
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