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Press release content from Globe Newswire. The AP news staff was not involved in its creation.
PRESS RELEASE: Paid content from Globe Newswire
Press release content from Globe Newswire. The AP news staff was not involved in its creation.

SHARC Energy’s Sales Pipeline Indicates Notable PIRANHA Growth

December 21, 2021 GMT

VANCOUVER, British Columbia., Dec. 21, 2021 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) (“SHARC Energy” or the “Company”) has received a purchase order for two PIRANHA systems to be installed in the affordable housing project 30PRL in Boulder, Colorado. This marks the 2nd installation in Boulder, Colorado and the first through the Company’s regional representative Long Building Technologies.

This project represents the beginning of an anticipated growth year for PIRANHA system sales, driven largely by its representative network. The Company’s Sales Pipeline1 and Sales Order Backlog2 currently suggests a baseline of 30 PIRANHA system purchase orders, covering 15 installation sites, projecting to be delivered and create $2.1M in revenue in the next 12 months. This indicates a significant increase from the delivered units of 1 in 2019, 3 in 2020, and 6 in 2021.

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With continued investment into Operations, Sales and Marketing, the Company is confident it can continue to grow its PIRANHA Sales Pipeline through both new build and retrofit opportunities. Furthermore, PIRANHA Sales Pipeline growth has and will continue to be influenced and accelerated by policy enacted to combat climate change. Cities and Governments across North America and the world are enacting fossil fuel bans, carbon tax policy and environmentally friendly & energy efficient building codes that encourage the continued adoption of Wastewater Energy Exchange and specifically, SHARC Energy and its products, SHARC and PIRANHA.

About SHARC Energy 

SHARC International Systems Inc. is a world leader in energy recovery 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.

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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

ON BEHALF OF THE BOARD

Lynn Mueller
Chairman and Chief Executive Officer

For investor inquiries, please contact:

For investor inquiries, please contact:For media inquiries, please contact:
Hanspaul PannuMike Tanyi  
Chief Financial OfficerDirector of Marketing and IT 
SHARC EnergySHARC Energy
Telephone: (604) 475-7710 ext. 4Telephone: (604) 475-7710 ext.109
Email: hanspaul.pannu@sharcenergy.comEmail:  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.  

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1 Sales Pipeline is a Non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the nine months ended September 30, 2021 MD&A.
2 Sales Order Backlog is a Non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the nine months ended September 30, 2021 MD&A.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/60a13357-360f-402d-b383-5182474fc943