VANCOUVER, British Columbia, July 18, 2023 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) is pleased to announce the recent visit of Governor Jay Inslee to Coastline Equipment, Inc., a key partner and supporter of SHARC Energy, at Coastline’s Bellingham, Washington operation. The visit underscores SHARC Energy's growing market presence and the growing recognition of its pioneering work in Wastewater Energy Transfer (“WET”).
Governor Inslee, accompanied by a distinguished group of attendees including Bellingham Mayor Seth Fleetwood, State Senator Sharon Shewmake, representatives from United States Senator Maria Cantwell's Office, and Clean Tech Alliance President and CEO Mel Clark, toured Coastline Equipment's facilities. The tour highlighted the production of the PIRANHA WET system, a groundbreaking product developed by SHARC Energy and being produced by Coastline in Washington State.
During the visit, Governor Inslee gained insights into the potential of Wastewater Energy Transfer and SHARC Energy's unique ability to create low-carbon, energy efficient & energy resilient Thermal Energy Networks (“TENs”) and Thermal Energy Storage (“TES”) Systems from a previously unrecognized renewable energy resource—Wastewater.
Currently, about ~40% of a building’s energy is flushed down the drain and into our sewers. SHARC Energy’s systems leverage previously untapped renewable thermal energy located within the sewer and wastewater infrastructure, aligning perfectly with the state's aggressive clean energy policies and the Inflation Reduction Act's rebate eligibility.
Under Governor Inslee's leadership, Washington State has emerged as one of the most proactive regions in North America in terms of climate & clean energy policy. The state's Clean Energy Transformation Act (CETA) sets ambitious milestones for a 100% clean electricity supply, and the Climate Commitment Act (CCA) aims to significantly reduce greenhouse gas emissions. Furthermore, the Washington State Building Code, effective July 1, 2023, is the first in the U.S. to require all new residential buildings over three stories and all commercial buildings to use all-electric space heating and a minimum of 50% electric hot water heating.
SHARC Energy's innovative solutions align seamlessly with these policies, offering a sustainable path to transition off fossil fuels, promote electrification, create jobs, and invest in aging infrastructure.
Governor Inslee was also briefed on the King County Wastewater Heat Recovery Pilot Project, a pioneering initiative that allows private parties to utilize the thermal energy in publicly-owned wastewater infrastructure. This project, in conjunction with SHARC Energy's technology, could potentially support the decarbonization of all of Seattle's hot water and heating needs, while also providing freshwater saving and electrically efficient cooling.
SHARC Energy extends its gratitude to Governor Inslee and all attendees for their interest and engagement. This visit marks a significant step in acknowledging wastewater as a renewable resource, a critical component of climate action policy that can help unlock key governmental goals.
About SHARC Energy
SHARC International Systems Inc. is a world leader in energy transfer from the wastewater we send down the drain every day. SHARC Energy's systems recycle thermal energy from wastewater, generating one of the most energy-efficient and economical systems for heating, cooling & hot water production for commercial, residential and industrial buildings.
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
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.
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A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3ffb6505-e042-45ef-927c-267fb8683c6f
