SHARC International Systems Inc., doing business as SHARC Energy, develops and sells wastewater energy transfer systems that exchange thermal energy with wastewater for heating, cooling and domestic hot water applications. Its reported product portfolio includes SHARC 880, PIRANHA and Back-Flush Only systems for commercial, residential, industrial and district energy settings.
Company news commonly covers equipment orders, project deployments, system commissioning, backlog and revenue updates, product-category expansion, and governance actions. Reported applications include district energy and thermal energy networks, wastewater treatment plant effluent, multifamily housing, airports, data centers, universities and other facilities using wastewater or hydronic sources as thermal-energy reservoirs.
SHARC Energy (INTWF) reported third-quarter 2026 revenue of C$0.83 million, unchanged from a year earlier, while its net loss widened. Gross margin fell to 32.3% from approximately 39%, and net loss reached C$0.87 million versus C$0.74 million. Nine-month revenue declined to C$1.6 million from C$2.7 million, with net loss widening to C$2.7 million from C$2.5 million.
At October 30, order backlog was C$10.1 million, up 87% from August 25, while the sales pipeline fell 24% to C$13.6 million. Equipment orders secured since the start of 2026 totaled approximately C$10.6 million. A City of Surrey purchase order exceeding C$5.0 million is expected to contribute revenue from the second half of 2027 into 2028 as milestones are achieved. Quarter-end cash was C$1.80 million, following a C$2.5 million convertible debenture financing completed during the first nine months; working capital remained negative at approximately C$0.09 million.
SHARC Energy (INTWF) received a purchase order worth over $5 million from the City of Surrey for wastewater heat recovery. It is the company’s largest order, approximately twice the size of its previous largest order. SHARC will supply three SHARC 880 systems with combined thermal capacity of 6 megawatts for Surrey City Energy.
The order will add over $5 million to fourth-quarter 2026 Sales Order Backlog, a non-IFRS measure. Revenue is expected in the second half of 2027 and into 2028, subject to delivery and contractual performance. Equipment fabrication and delivery are planned for late 2027 to early 2028. The facility is designed for phased expansion to approximately 27 megawatts, but additional equipment requires future procurement. SHARC is exploring capital solutions with third parties to support delivery and growth, while seeking to align working capital and cash flow with project schedules.
SHARC Energy (INTWF) has granted stock options and restricted share units under its equity incentive plans following board approval.
The grants include 9,590,000 stock options for certain directors, officers and eligible participants. Each option is exercisable at $0.09 per common share, vests immediately and expires on October 2, 2029, subject to the Stock Option Plan and grant documentation. The company also granted 1,806,250 restricted share units (RSUs), share-based compensation awards, to non-executive employees. These vest four months following the grant date, subject to the RSU Plan and award agreements.
SHARC International Systems (INTWF) reported that shareholders approved all matters at its annual general meeting held September 18, 2026.
A total of 21,347,237 common shares were voted in person or by proxy, representing 12.93% of issued and outstanding common shares. A quorum was confirmed. Shareholders elected Shane Dungey, Michael Albertson, Felix (Fred) Andriano, Peter Busby, Dermot Sweeny and Kevin Hydes as directors until the next annual meeting. Davidson & Company was appointed auditor for the ensuing year.
SHARC Energy (OTCQB: INTWF) reported Q2 2026 revenue of $0.27 million, down about 68% from $0.85 million in Q2 2025, with gross margin at 41.4% versus 44.0%. Q2 net loss was $0.92 million and Adjusted EBITDA loss was $0.77 million.
For the first half of 2026, revenue was $0.76 million versus $1.86 million a year earlier, with a net loss of $1.83 million and Adjusted EBITDA loss of $1.53 million. As of August 25, 2026, SHARC Energy reported a $5.4 million Sales Order Backlog and $17.9 million Sales Pipeline, together about $23.3 million, after approximately $5.1 million of equipment orders secured in 2026.
The company ended Q2 with $1.40 million in cash and positive working capital of about $0.56 million, supported by a $2.5 million unsecured convertible debenture financing. Highlights also included the commercial launch of the MANTA system, new projects across North America, patent grants in the U.S. and Europe, and an executive leadership transition appointing Shane Dungey as Interim CEO and Executive Vice Chair.
SHARC Energy (OTCQB: INTWF) announced a broad executive leadership transition approved by its Board of Directors, effective immediately. Founder Lynn Mueller will step away from day-to-day responsibilities, and the Board intends to finalize a consulting agreement with him focused on business development and strategic growth initiatives, subject to Board ratification.
The Board concluded the contractual relationship with Chief Financial Officer Hanspaul Pannu and appointed Chairman Fred Andriano as Interim Chief Financial Officer and Treasurer. Michael Albertson was appointed President, continuing to lead daily operations and emphasizing product innovation, commercial execution, partnerships and revenue growth. Director Shane Dungey was appointed Interim Chief Executive Officer and Executive Vice Chair, tasked with strengthening governance, operational execution and strategic priorities while the Board evaluates SHARC Energy’s long-term executive leadership structure.
SHARC Energy (OTCQB: INTWF) reported Q1 2026 revenue of $0.49M, down 51% from Q1 2025, with a net loss of $0.9M and Adjusted EBITDA loss of $0.74M. Gross margin was 31.5%.
Sales Order Backlog reached $6.9M, up 102% since December 1, 2025 and equal to 127% of 2025 revenue. Sales Pipeline stands at $19M, a 15% increase, for a combined $25.9M. The company secured about $5.1M in 2026 orders, launched its new MANTA system, won multiple district energy and government-affiliated projects, and closed a $2.5M unsecured convertible debenture financing.
SHARC Energy (OTCQB: INTWF) will participate in an investor webinar hosted by Adelaide Capital on May 20, 2026, at 10:00 a.m. PT / 1:00 p.m. ET.
President & CEO Michael Albertson and Chairman Fred Andriano will discuss recent developments, growth initiatives, market opportunities, and upcoming catalysts.
SHARC Energy (OTCQB: INTWF) received a purchase order from the National Laboratory of the Rockies to deploy its PIRANHA wastewater heat recovery system at the Naval Postgraduate School’s Hotel Del Monte in Monterey, California.
The PIRANHA HC unit is expected to deliver ~120,000 Btu/h, produce up to 100% of domestic hot water at 140°F year-round, and support integrated cooling and dehumidification. The program targets up to 60% energy cost savings for domestic hot water systems and includes Honeywell as a technology transition partner.
SHARC Energy (OTCQB: INTWF) filed audited results for YE 2025 showing revenue $3.04M, up 40% year-over-year, and a $6.9M sales order backlog anticipated to convert to revenue within ~12 months. YE 2025 net loss was $3.49M with Adjusted EBITDA loss $2.57M. The company reported $4.6M of purchase orders in 2026 and closed a $1.57M unsecured convertible debenture. Key patents granted in the US and Europe with multi-jurisdictional filings pending.