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Sharc International Sys Inc. Re (IWIA.SG)

Stuttgart - Stuttgart Delayed price. Currency in EUR
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  • SHARC Energy Announces Fourth Quarter and Fiscal Year 2020 Financial Results
    GlobeNewswire

    SHARC Energy Announces Fourth Quarter and Fiscal Year 2020 Financial Results

    VANCOUVER, British Columbia, April 29, 2021 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) (“SHARC Energy” or the “Company”) announces it has filed its financial results for the fourth quarter and fiscal year ended December 31, 2020. For complete financial information for the fourth quarter and fiscal year ended December 31, 2020, please see the Audited Consolidated Financial Statements and Management Discussion and Analysis filed on SEDAR at www.sedar.com. All figures are in Canadian Dollars unless otherwise stated and in accordance with IFRS. Fourth Quarter and Fiscal Year Highlights: Revenue for the three months ended December 31, 2020 (“Q4 2020”) and year ended December 31, 2020 (“Fiscal 2020”) was $0.04M and $0.63M, respectively, representing an increase of $0.02M and $0.49M from the three months ended December 31, 2019 (“Q4 2019”) and year ended December 31, 2020 (“Fiscal 2019”). Loss from continuing operations for Q4 2020 is $0.95M compared to $0.62M for Q4 2019, an increase of $0.33M. Loss from continuing operations for Fiscal 2020 is $2.89M compared to $3.29M for YTD 2019, a decrease of $0.4M.Adjusted EBITDA1 Loss of $0.55M in Q4 2020 compared to $0.58M in Q4 2019, a decrease of $0.03M and $1.86M in Fiscal 2020 compared to $2.23M in Fiscal 2019, a decrease of 0.37M. As of April 29, 2021, the Company has Sales Pipeline2 of $2.76M and Sales Order Backlog3 of $1.24M. The Company has $3.3M of working capital as of December 31, 2020. Fiscal 2020 Highlights and Subsequent Events $11.13 Million (M) raised through capital markets and security exercises. Since the beginning of 2020 to current day, the Company raised $4.74M (gross) through the issuance of 2% convertible debt, $4.1M through non-brokered equity and equity unit private placements and $2.29M through the exercise of stock options and warrants.Convertible Debt Settlement. On May 29, 2020, the Company settled with all holders (“Debenture holders”) of the Company’s $1.3M and $1M 12% unsecured, convertible debentures which were set to mature on May 30, 2020 and June 29, 2020 (the “Maturing Debentures”). This resulted in a gain on debt settlement of $0.59M.Significant Growth of Representative Network. The Company revamped its distribution network for SHARC Energy products in 2020 by adding 10 manufacturer representatives (“Representative” or “Rep”) that provide the Company sales coverage across most Canadian provinces and American states. As at December 31, 2020, 75% of deals in our pipeline will be fulfilled through these Representatives.Successful Incubatenergy Labs Challenge. On October 14th, 2020, utilities, municipalities and private sector investors in the United States were shown results achieved during a three-month demonstration of the PIRANHA HC at the Electrical Power Research Institute (“EPRI”) sponsored Incubatenergy Labs and Ameren Accelerator Demo Day. Key results of the demonstration included: 61 per cent energy savings reported by building management.99 per cent GHG reduction from gas boiler use.Production of 100% of the hot water at 140°F, completely offsetting the use of gas boilers.An average Co-efficiency of Performance (“COP”) for hot-water production of over 3.5 over the project term and peak COP of over 5. National Western Center. The National Western Center is pioneering the largest scale wastewater district-energy innovation in North America to date. The National Western Center will rely on two SHARC™ wastewater recovery systems placed in the heart of its 3.8-megawatt (MW) district energy system, creating a low-carbon campus that is sustainable and regenerative. The first phase of development is expected to recover the thermal energy from 3,000 gallons of wastewater that would otherwise be wasted and go down the drain every minute which will prevent 2,600 metric tons of carbon dioxide from being emitted into the atmosphere.Congresswoman Marcy Kaptur visit to DC Water. U.S. House Representative Marcy Kaptur, Chairwoman of the House Appropriations Subcommittee on Energy and Water Development, toured the U.S. capital’s DC Water Headquarters (“DC Water HQ”) on March 9, 2021. “I have never seen a technology that could have as positive of an impact on energy as what I have seen at the DC Water HQ,” said Congresswoman Kaptur after her visit.Conversion of Convertible Debt Face Value of $2.21M. During Fiscal 2020 and subsequently to date, the Company has converted $2.21M of convertible debt. “The Company has made significant progress in strengthening its balance sheet and positioning SHARC Energy for the market growth anticipated by climate action policy and regulation,” says Hanspaul Pannu, Chief Financial Officer of SHARC Energy, “We entered 2021 with $3.3M of working capital, providing enough capital for the Company to focus and invest in growing its Sales Pipeline while continuing to advocate for the opportunities wastewater presents for low carbon and energy efficient heating and cooling.” 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. 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 MuellerChairman and Chief Executive Officer For investor inquiries, please contact:For media inquiries, please contact:Hanspaul PannuMike TanyiChief Financial OfficerDirector of Marketing and ITSHARC EnergySHARC EnergyTelephone: (604) 475-7710 ext. 4Telephone: (604) 475-7710 ext.109Email: 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. 1 Adjusted EBITDA is a Non-IFRS measure. Please see discussion and reconciliation of Alternative Performance Measures and Non-IFRS measures in the Fiscal 2020 Management Discussion and Analysis (“MD&A”).2 Sales Pipeline is a Non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Fiscal 2020 MD&A.3 Sales Order Backlog is a Non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Fiscal 2020 MD&A.

  • SHARC Energy Ships PIRANHA HC to Forward-Thinking Vancouver Residential Project
    GlobeNewswire

    SHARC Energy Ships PIRANHA HC to Forward-Thinking Vancouver Residential Project

    VANCOUVER, British Columbia, April 22, 2021 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) shipped its PIRANHA wastewater energy recovery system to the ELLA development in Vancouver, B.C., the latest multi-family residential building seeking to reduce its energy costs and carbon footprint while future proofing against rising carbon tax. The 45-suite unit ELLA project is built by Trillium Projects Management Ltd. (“TRILLIUM”) on behalf of GN Holdings Limited Partnership (“GN HOLDINGS”). GN Holdings is an example of a forward-looking sustainable developer getting ahead of the City of Vancouver Climate Emergency Action Plan and specifically “Big Move 4: Zero Emissions Space and Water Heating”. By 2030, the city would like to reduce carbon pollution from buildings by half from its 2007 levels. By 2025, all new and replacement heating and hot water systems will be mandated to be zero emissions. Under Big Move 4, the plan outlines regulations will be implemented to reduce the carbon from existing buildings, starting with a first phase in 2025. If these “carbon caps” are not met by buildings, building owners will be charged fees or a municipal carbon tax annually. The City of Vancouver anticipates this to be $15M-$20M of revenue a year starting in 2025. As this plan was originally announced pre-COVID, there is potential this carbon cap is implemented sooner. The PIRANHA T10 HC will recover the thermal energy from the water that goes down the drain in the complex daily providing heating and an estimated 524 tonnes of CO2 emissions reduction over its lifespan. At the same time the unit is providing up to 100% of the hot water production, it will be providing some air conditioning to help improve cooling efficiencies. “We are very proud of this latest project, which shows SHARC Energy’s wastewater energy recovery technology can provide small and medium-size residential buildings significant energy savings and reduced carbon emissions,” said SHARC Energy CEO Lynn Mueller. “We are also encouraged by the support of CleanBC, the province’s program that assists those trying to reduce carbon emissions to meet B.C. and Canada’s GHG reduction goals.” The ELLA installation is a result of the builder’s initial investment and the assistance of the CleanBC Custom-Lite Program, which subsidizes building owners and operators wishing to install technologies that reduce greenhouse gas (GHG) emissions. CleanBC Custom Programs are funded by the Province of British Columbia and the Government of Canada and is administered by BC Hydro. There are now eleven SHARC Energy systems installed — or scheduled to be installed — in the Lower Mainland, including the False Creek Neighbourhood Energy Utility. 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. 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 BOARDLynn MuellerChairman and Chief Executive Officer For investor inquiries, please contact:For media inquiries, please contact:Hanspaul Pannu Mike Tanyi Chief Financial OfficerDirector of Marketing and IT SHARC EnergySHARC EnergyTelephone: (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.

  • SHARC Wastewater Energy Recovery System Toured by U.S. House Appropriations Subcommittee on Energy and Water Development
    GlobeNewswire

    SHARC Wastewater Energy Recovery System Toured by U.S. House Appropriations Subcommittee on Energy and Water Development

    “I have never seen a technology that could have as positive of an impact on energy as what I have seen at the DC Water HQ” DC Water HQ Performance Metrics DC Water Headquarters SHARC System Performance Metrics VANCOUVER, British Columbia, March 10, 2021 (GLOBE NEWSWIRE) -- U.S. House Representative Marcy Kaptur, Chairwoman of the House Appropriations Subcommittee on Energy and Water Development, toured the U.S. capital’s DC Water Headquarters (“DC Water HQ”) yesterday to see the benefits of the building’s wastewater energy recovery system installed by SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”). The iconic DC Water HQ, constructed on the banks of the Anacostia River in 2017, was recently designated LEED Platinum by the U.S Green Building Council. That designation was enabled by the SHARC wastewater energy recovery system’s ability to reduce GHG emissions and fossil fuel use by capturing the thermal energy in wastewater that would have normally been sent down the drain — and by also providing electrically efficient cooling resulting in reduced freshwater usage of the buildings cooling towers. “I have never seen a technology that could have as positive of an impact on energy as what I have seen at the DC Water HQ,” said Congresswoman Kaptur after her visit. Since its implementation at DC Water HQ, the SHARC system has been operating on a heating and cooling ratio of roughly 3.3% and 96.7%, respectively, showcasing its ability to operate in both heating and cooling applications. Through the usage of the SHARC system, the building has been able to prevent the emission of approximately 12.6 metric tonnes of carbon dioxide due to heating by fossil fuels annually, the equivalent of planting 573 trees. In applications requiring a higher degree of heating, these figures would be significantly increased. Furthermore, in its cooling operation, it is estimated that the SHARC system results in a reduction of 1.5 million gallons of freshwater annually that would otherwise be required for the cooling towers. “We are delighted to have Representative Kaptur see our wastewater recovery system in action,” said SHARC Energy CEO Lynn Mueller. “SHARC’s wastewater energy recovery systems are a breakthrough technology that will help the United States — and the world — dramatically reduce the carbon footprint and energy profiles of residential, commercial and public buildings.” SHARC Energy’s systems are now operating — or are scheduled to be installed — in buildings and district energy systems across North America. For example, the National Western Center in Denver is pioneering the largest scale wastewater district-energy innovation in North America to date with SHARC Energy. The National Western Center will rely on two SHARC wastewater energy recovery systems placed in the heart of its 3.8-megawatt (MW) district energy system, creating a low-carbon campus that is sustainable and regenerative. 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. 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 MuellerChairman and Chief Executive Officer For investor inquiries, please contact:Hanspaul PannuChief Financial OfficerSHARC EnergyTelephone: (604) 475-7710 ext. 4Email: hanspaul.pannu@sharcenergy.com For media inquiries, please contact:Mike TanyiDirector of Marketing and ITSHARC EnergyTelephone: (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. A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2183b21a-1931-4e84-9195-9d28e2fd3906