Sharc Intl Sys Inc Stock Price, News & Analysis

SHARC Energy (INTWF) announced that two SHARC 880 Wastewater Energy Transfer (WET) systems will power a district energy system in Ottawa's LeBreton Flats redevelopment. The project is led by the LeBreton Community Utility Partnership, a joint venture between Envari Holding Inc. and Theia Partners.

The WET system will provide 9 Megawatts of sustainable heating and cooling to the development, including DREAM's Odenak development - a 600-unit, two-tower project. The system is expected to reduce greenhouse gas emissions by 5,066 tonnes annually, equivalent to the electricity used by 3,387 homes for a year.

Construction will begin in late 2025, with SHARC Energy anticipating equipment delivery during 2026. The partnership is in discussions with the National Capital Commission to potentially expand the WET network to additional land parcels at LeBreton Flats.

SHARC Energy (OTCQB: INTWF) has announced significant changes to its Board of Directors. Fred Andriano has been appointed as Chairman of the Board and Executive Officer, replacing founder Lynn Mueller, who will remain as Vice Chairman and Executive Officer. Andriano brings 20 years of experience in the heating and cooling energy sector, with previous roles including VP of Finance at NIBE North America and CFO at WaterFurnace International.

The company also announced the retirement of Eleanor Chiu from the Board after nearly six years of service. Chiu, who holds a 5% stake in the company, will be succeeded by Andriano as Chairman of the Audit Committee. These leadership changes are part of SHARC Energy's strategic move to accelerate growth, expand markets, and improve profitability in the Wastewater Energy Transfer sector.

SHARC Energy reported strong financial growth for 2024, with revenue reaching $2.17M, marking a 36% increase from 2023's $1.59M. The company enters 2025 with a robust Sales Order Backlog of $3.0M and a Sales Pipeline of $16.8M.

Under new CEO Michael Albertson, the company achieved key milestones including a $2M debenture financing and significant projects like the False Creek Neighbourhood Energy Utility Expansion. The company's backlog includes 9 projects (3 SHARC and 6 PIRANHA), demonstrating diversification in their thermal energy solutions.

Notable developments include involvement in a $1.2B Brooklyn development project and expansion into new sectors such as wastewater treatment facilities and universities. Despite revenue growth, the company reported a loss of $3.72M for 2024, though this represents a 5% improvement from 2023. Gross margins remained stable at 42% compared to 43% in 2023.

SHARC International Systems (OTCQB: INTWF) has appointed Michael Albertson as its new CEO, President and Director, while former CEO Lynn Mueller transitions to Executive Chairman. Albertson, who played a key role in the $364 million WaterFurnace International acquisition by NIBE group in 2014, brings significant renewable thermal energy expertise. The company aims to expand its Wastewater Energy Transfer (WET) business into new customer sectors including universities, water utilities, correctional facilities, military, and design & build energy sectors. These sectors offer advantages such as fewer regulatory hurdles, long-term customer relationships, shorter sales cycles, and potential for larger scale projects.

SHARC Energy reported Q3 2024 financial results with revenue of $0.79M, a 44% increase from Q3 2023. Year-to-date revenue reached $2.34M, representing 147% of full-year 2023 revenue and a 35% increase from YTD 2023. Gross margins decreased to 32% in Q3 2024 and 37% YTD 2024, compared to 40% and 42% in the previous year. The company maintains a Sales Pipeline of $17.1M and a Sales Order Backlog of $2.5M. Notable developments include closing a $2M debenture financing and receiving purchase orders for significant projects in New York.

SHARC International Systems (OTCQB: INTWF) has completed the issuance of 431,818 common shares to settle $47,500 of bona fide debt to an arm's length party. The issued shares are subject to a statutory hold period of four months plus one day from the issue date, in accordance with applicable securities legislation. The transaction follows the company's previous announcement from November 7, 2024.

SHARC International Systems has appointed Fred Andriano to its Board of Directors, bringing over 40 years of experience in finance and renewable energy. Andriano's career includes significant roles at Uniroyal Plastics, Dreyer's Grand Ice Cream, and notably as CFO of WaterFurnace International, where he helped double revenues from $65M to $130M, leading to a $364M acquisition by NIBE Group. At NIBE, he facilitated major acquisitions and drove substantial growth. The company also announced a debt settlement agreement to issue 431,818 common shares at $0.11 per share to settle $47,500 in debt.