VANCOUVER, British Columbia, July 02, 2020 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”), whose technology extracts wasted energy from waste water, will be represented in the United States by LONG Building Technologies, Inc. (“LONG”), one of the United States most progressive integrators of sustainable technology in buildings.
Established in 1965, LONG has entered into a Manufacturer’s Representative Agreement (“MRA”) with SHARC Energy to become a representative (“Representative”) of SHARC™ waste water energy innovations in the US. It will be presenting the SHARC waste water energy systems PIRANHA™, PIRANHA HC and the SHARC system in the U.S. states of Colorado, Montana, Utah and Wyoming.
“We are delighted to have LONG, and their environmentally conscious team, representing SHARC Energy’s carbon-reduction systems in the United States,” said Lynn Mueller, CEO and Chair of SHARC Energy. “Our proven technology repurposes the heat in waste water into energy we can reuse, reducing our need for carbon-intensive energy sources.”
LONG was established in 1965 and has grown to become one of the largest integrators of technology innovations for buildings in the Western U.S. It provides products and services in building automation, HVAC equipment, mechanical service, security solutions and parts. LONG has a large network across eight states including Colorado, Montana, Utah and Wyoming.
LONG’s historical success in promoting advanced building technologies in the U.S. is vital to SHARC Energy’s global commercialization strategy to reduce global carbon emissions by re-capturing and utilizing energy in waste water from our daily lives. LONG has market reach into states that are emerging as leaders in setting aggressive clean energy and climate-action goals, which SHARC Energy waste water innovations can help achieve.
Colorado, where LONG operates, is overhauling its energy strategy. Governor Jared Polis campaigned on a promise to target 100 percent clean electricity generation by 2040 and identifies requiring significant reductions in emissions associated with heating and cooling buildings. SHARC Energy believes its waste water energy recovery systems, which can replace carbon-intensive energy sources for buildings, can be a part of that public interest objective.
In addition, House Bill 19-1261 sets Colorado statewide goals to reduce 2025 greenhouse gas emissions by at least 26%, 2030 greenhouse gas emissions by at least 50% and 2050 greenhouse gas emissions by at least 90% of the levels of greenhouse gas emissions that existed in 2005.
These initiatives in Colorado provide SHARC Energy with a significant opportunity to create market traction around waste water heat recovery, augmenting traditional clean, renewable energy sources such as wind and solar.
About SHARC Energy
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 Energy 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 under our profile on SEDAR at www.sedar.com.
About LONG
LONG Building Technologies, Inc. is one of the largest building integrators in the Western U.S., providing products and services in building automation, HVAC equipment, mechanical service, security solutions, and parts. LONG has hundreds of employees across eight states: Alaska, Colorado, Montana, Nevada, Oregon, Utah, Washington and Wyoming, but is best defined by the way LONG treat their customers – the heart of the business.
Further information about the Company is available on their website at www.long.com.
Debt Settlement
The Company issued 544,627 common shares at a deemed price of $0.19 per common share for the settlement of outstanding debt.
ON BEHALF OF THE BOARD
“Lynn Mueller”
Chairman and Chief Executive Officer
For further information, please contact:
Jason Shepherd
Investor Relations
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
Certain statements contained in this news release may constitute forward-looking information. Forward-looking information is often, but not always, identified by the use of 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 as a result of new information, future events or otherwise, except as required by applicable securities legislation.
