SHARC Energy Announces Michael Albertson as New CEO, President and Director
Rhea-AI Summary
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.
Positive
- New CEO Michael Albertson brings proven track record with $364M WaterFurnace acquisition
- Expansion into new customer sectors with potentially shorter sales cycles
- Strategic focus on sectors with fewer regulatory hurdles and larger project potential
- Retention of former CEO as Executive Chairman maintains leadership continuity
Negative
- None.
VANCOUVER, British Columbia, Dec. 12, 2024 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”), a leader in Wastewater Energy Transfer ("WET"), is pleased to announce the appointment of Michael Albertson as the Company’s new Chief Executive Officer, President and Director. Lynn Mueller has led SHARC Energy as CEO, President and Chairman of the Board since 2014 and will stay on as Executive Chairman of SHARC Energy’s Board of Directors.
Michael Albertson brings a wealth of experience and a forward-thinking approach to his new role as CEO, President and Director. With a proven track record evidenced by his involvement in the
“I am honored to take on this new role and continue the essential work of expanding SHARC Energy’s WET business,” said Mr. Albertson. “My focus will be accelerating our efforts to provide clean, efficient, and reliable energy solutions to drive the transition to a sustainable energy future.”
As part of this vision, SHARC Energy is committed to progressing in new customer sectors with promising opportunities developing with universities, water utilities, correctional facilities, military and the design & build energy sectors. These sectors are increasingly receptive to the Company’s offerings which is promising as these sectors can provide fewer regulatory hurdles, long-term customer relationships, shorter sales cycles and the potential for larger scale projects.
“Since joining SHARC Energy, I have been amazed by the response to WET, which has been overwhelmingly positive,” added Michael Albertson. “We continue to uncover new opportunities in adjacent customer sectors to new build multi-family residential. SHARC Energy is made up of an incredible team of people that I am proud to be a part of, and together, we will strive to do what is best for our customers!”
Mr. Mueller’s tenure as CEO and President has been marked by significant accomplishments, shaping the product portfolio and driving growth for SHARC Energy. Under his leadership, the Company has expanded its footprint, enhanced its technological capabilities, and solidified its position as the leader in the WET energy sector. Lynn’s vision and dedication have been instrumental in not only advancing SHARC Energy but also building a viable industry—Wastewater Energy Transfer.
“I am incredibly proud of what we have achieved at SHARC Energy,” said Lynn Mueller, Executive Chairman of SHARC Energy. “Our innovation of cutting-edge clean energy technologies and our commitment to accessing wastewater for thermal energy transfer have set a strong foundation for the future. Michael has been instrumental in elevating the Company’s visibility in the marketplace and will continue to lead our efforts as the pioneers of the Wastewater Energy Transfer industry!”
With Michael Albertson at the helm and Lynn Mueller’s continued strategic involvement as Executive Chairman, SHARC Energy is well-positioned to lead the WET industry. We look forward to providing a fulsome update on Mr. Albertson’s strategic vision for the future of SHARC in the coming months.
About SHARC Energy
SHARC International Systems Inc. is a world leader in energy transfer with the wastewater we send down the drain every day. SHARC Energy's systems exchange thermal energy with wastewater, generating one of the most energy-efficient and economical systems for heating, cooling & hot water production for commercial, residential and industrial buildings along with thermal energy networks, commonly referred to as “District Energy”.
SHARC Energy is publicly traded in Canada (CSE: SHRC), the United States (OTCQB: INTWF) and Germany (Frankfurt: IWIA) and you can find out more on our SEDAR profile.
Learn more about SHARC Energy: Website | Investor Page | LinkedIn | YouTube | PIRANHA | SHARC
ON BEHALF OF THE BOARD
Lynn Mueller
Chairman and Chief Executive Officer
| For investor inquiries, please contact: Hanspaul Pannu Chief Financial & Operating Officer SHARC Energy Telephone: (604) 475-7710 ext. 4 Email: hanspaul.pannu@sharcenergy.com | For media inquiries, please contact: Mike Tanyi Director of Marketing & IT SHARC Energy Telephone: 604.475.7710 Ext.109 Email: mike.tanyi@sharcenergy.com |
The 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 using 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 because of new information, future events or otherwise, except as required by applicable securities legislation.
FAQ
Who is the new CEO of SHARC Energy (INTWF) and when was he appointed?
What major acquisition was SHARC Energy's new CEO Michael Albertson involved in?
What new market sectors is SHARC Energy (INTWF) targeting under the new leadership?
What role will former SHARC Energy CEO Lynn Mueller take after stepping down?
What advantages do SHARC Energy's new target sectors offer?
