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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 International Systems Inc. (OTCQB: INTWF) announced the successful delivery of units for three major projects: National Western Center, Trico LivingWell, and 303 Battery. These installations represent the largest wastewater heat recovery project in North America and will contribute to significant CO2 emission reductions. The systems are expected to provide 90% of the heating and cooling needs at National Western Center while eliminating over 2,600 metric tonnes of CO2 emissions annually. SHARC Energy emphasizes the growing adoption of its technology across multiple sectors.
SHARC Energy has announced its PIRANHA T10 system will be implemented at the Global Education City’s King Edward project in Vancouver, B.C. The system will produce hot water while significantly reducing greenhouse gas emissions, estimating a decrease of 34 tonnes of CO2 annually compared to traditional gas boilers. As carbon taxes rise, the PIRANHA T10 will help mitigate costs for the building and its tenants. The project aligns with local climate action initiatives aimed at zero-emission heating standards, and the unit is expected to ship in Q4 2021.
VANCOUVER, British Columbia, Sept. 02, 2021 – SHARC Energy (OTCQB: INTWF) announces that insiders purchased 1,010,000 shares, totaling $466,000, increasing insider ownership by 6%. Insiders now hold approximately 22% of shares outstanding. The company reports a 61% increase in Sales Pipeline and Order Backlog, amounting to $2.5M this year, promising new revenue milestones. Growth is driven by diverse prospective clients across various sectors, with installations expected soon. SHARC's technology garnered attention, including a visit from Congresswoman Marcy Kaptur, emphasizing its significant energy impact.
SHARC International Systems (OTCQB: INTWF) reported its Q2 and YTD financial results for 2021, highlighting a sales pipeline of $3.77M and a sales order backlog of $2.82M, up 47% since May 2021. Q2 2021 revenue was $0.11M, down from Q2 2020, but up for YTD at $0.3M. Losses increased, with a Q2 loss of $1.01M and a YTD loss of $1.86M, both higher than the previous year. The company raised $2.12M in capital markets and has $2.6M in working capital, sufficient for the next 12 months.
SHARC Energy (OTCQB: INTWF) has partnered with Musqueam Capital Corporation for the leləm̓ community development in Vancouver, utilizing a low-carbon wastewater energy system. This innovative project aims to significantly enhance energy efficiency and reduce carbon emissions for 1,200 residential units. By recycling thermal energy from wastewater, the development aligns with global sustainability goals, including the United Nations Environment Programme’s recommendations. The system is scheduled for delivery in Q1 2022, showcasing SHARC's commitment to environmental stewardship and energy innovation.
SHARC International Systems Inc. (OTCQB: INTWF) has secured a purchase order for two PIRANHA T15 wastewater heat pump systems to be installed at Trico LivingWell in Kingsland, Alberta. These installations are the second and third of their kind in the province, contributing to a sustainable approach in older adult living communities. The PIRANHA T15 systems significantly reduce CO2 emissions and align with Trico LivingWell's commitment to health and well-being, pursuing WELL v2 Certification. Anticipated shipping is before June 30, 2021.
SHARC International Systems (OTCQB: INTWF) reported its first quarter financial results for 2021. Revenue increased to $0.19M, up $0.14M from Q1 2020. The net loss narrowed to $0.85M from $0.87M year-over-year. Adjusted EBITDA loss rose to $0.51M. The company holds a sales pipeline of $3.31M and an order backlog of $1.21M. Working capital stood at $4.2M, allowing operations to continue for the next 12 months. SHARC raised $1.86M via capital markets, with a notable project in partnership with WashOut Laundry expected to yield significant energy savings.
SHARC International Systems Inc. (OTCQB: INTWF) reported its financial results for Q4 and FY 2020, revealing a revenue increase to $0.04M in Q4 and $0.63M for the year, up by $0.02M and $0.49M respectively from the previous year. However, the company experienced a loss from continuing operations of $0.95M in Q4 2020, up from $0.62M in 2019, while FY loss decreased to $2.89M from $3.29M. The company secured $11.13M in capital through various means and currently holds a working capital of $3.3M, positioning itself for future growth in energy recovery solutions.
SHARC International Systems has shipped its PIRANHA wastewater energy recovery system to the ELLA development in Vancouver, aimed at reducing energy costs and carbon emissions while aligning with the city's climate action plan. The 45-suite building is part of a trend towards sustainable development in Vancouver. The system is expected to achieve a reduction of 524 tonnes of CO2 emissions over its lifespan and provide up to 100% hot water production. This reinforces SHARC's commitment to energy efficiency and environmental sustainability.
SHARC International Systems showcased its wastewater energy recovery system at the DC Water HQ, recently toured by Congressman Marcy Kaptur. This system has significantly reduced greenhouse gas emissions, preventing approximately 12.6 metric tonnes of carbon dioxide annually, equivalent to planting 573 trees. Additionally, it saves about 1.5 million gallons of freshwater each year. The SHARC system operates on a heating and cooling ratio of 3.3% and 96.7%, respectively. SHARC’s technology aims to transform energy efficiency in buildings across North America.