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Sharc International Sys Inc. Re (IWIA.SG)

Stuttgart - Stuttgart Delayed price. Currency in EUR
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0.2530-0.0310 (-10.92%)
At close: 3:35PM CET
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Previous close0.2840
Open0.2560
Bid0.2680 x 0
Ask0.2870 x 0
Day's range0.2530 - 0.2570
52-week range0.0376 - 0.2840
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Avg. volume426
Market capN/A
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  • Sharc Energy Reaches Landmark Deal to Power North America’s Largest District Energy Wastewater Recovery System
    GlobeNewswire

    Sharc Energy Reaches Landmark Deal to Power North America’s Largest District Energy Wastewater Recovery System

    Flagship Colorado Project to Capture Energy in Wastewater resulting in Significant GHG-Reduction SHARC Energy and National Western Center SHARC ENERGY REACHES LANDMARK DEAL TO POWER NORTH AMERICA’S LARGEST DISTRICT ENERGY WASTEWATER RECOVERY SYSTEM VANCOUVER, British Columbia, Jan. 19, 2021 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) (“SHARC Energy” or the “Company”) is pleased to announce a landmark deal to install its GHG-reducing wastewater energy-recovery technology in what will be North America’s largest District Energy System. Colorado’s National Western Center, an innovation hub being built in the heart of Denver to pioneer food and agricultural research, will use SHARC Energy’s technology to recover the heat in wastewater that would otherwise go down the drain every day. By recovering the energy in that wastewater, SHARC Energy systems will dramatically reduce fossil fuel use for heating and cooling, reducing energy costs and GHG emissions. 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. “To have our technology recognized and installed by this premier project, the largest wastewater district energy development in North America, is a major milestone for SHARC Energy,” said CEO Lynn Mueller. “This is one of many such projects we anticipate being involved in the U.S., Canada and other markets in 2021, as governments and business look to reduce energy costs and the reliance on fossil fuels — and reduce their carbon footprints — by tapping into the wastewater that goes down the drain every day.” The National Western Center’s wastewater heat recovery system has already received widespread attention as an innovation to help developers align with the GHG reduction goals set forth in Denver’s Climate Action Plan. The Denver Post recently reported the National Western Center system will “prevent 2,600 metric tons of carbon dioxide from being emitted into the atmosphere each year by circumventing the need to burn fossil fuels.” District Energy Systems are a quickly growing global opportunity that SHARC Energy is targeting as the world looks for low-carbon technologies for greater energy efficiency. According to a 2020 study from Fortune Business Insights, “the global district heating market size was USD $173.42 billion in 2019 and is projected to reach USD $204.74 billion by 2027, exhibiting a CAGR of 2.2% during the forecast period.” As of January 19, 2021, SHARC Energy’s Sales Order Backlog1 is $1.3M. During 2021, the Company is focused on increasing the Sales Pipeline2 and working on moving projects through to Sales Order Backlog. The growth of these figures not only indicates the growth of SHARC Energy but the growth of the wastewater heat recovery industry. The Wastewater Heat Recovery District Energy System for the 250-acre National Western Center campus will be owned and operated by EAS Energy Partners, a consortium of Enwave USA Holdings LLC, AECOM Technical Services Inc. and Saunders Construction. The district energy system is scalable to accommodate future phases of the National Western Center development and may require additional SHARC systems to meet capacity. Upon shipment of the wastewater heat recovery system — expected in Q3 2021 — the Sales Order Backlog associated with the project will be recognized as Revenue in the Company’s published financial statements. 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 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. ON BEHALF OF THE BOARD“Lynn Mueller”Chairman 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 IT SHARC EnergyTelephone: (250) 212-2122 Email: mike.tanyi@sharcenergy.comThe 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 Sales Order Backlog is a Non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Q3 2020 MD&A filed on SEDAR (www.sedar.com).2 Sales Pipeline is a Non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the September 30, 2020 MD&A filed on SEDAR (www.sedar.com). A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9cba7641-dc39-4115-ba9a-f5903ef8879e A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e839b625-10f8-4bf1-825d-4306ff1ef4fd

  • SHARC Energy Fully Subscribes $3.0M Private Placement
    GlobeNewswire

    SHARC Energy Fully Subscribes $3.0M Private Placement

    THIS NEWS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, British Columbia, Dec. 21, 2020 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE:SHRC) (FSE:IWIA) (OTCQB:INTWF) (the “Company” or “SHARC Energy”) is pleased to announce it has completed the sale of 10,001,000 common shares (each, a “Share”) on a non-brokered private placement basis at a price of $0.30 per Share for gross proceeds of $3,000,300 (the “Offering”). Insiders of the Company invested $186,000 in the Offering. The proceeds from the fully subscribed private placement will be used for general working capital purposes in support of its sales and marketing efforts. During the month of December to date, the Company has raised an additional $529,500 through stock option (“Options”) and common share purchase warrant (“Warrants”) exercises in addition to the Offering. SHARC Energy does not anticipate any additional financings required to fund operations in 2021. With a healthy balance sheet entering the 2021 fiscal year, the Company is focused on creating shareholder value through the commercialization of SHARC and PIRANHA systems in North America and globally.“With the proceeds from the Option and Warrant exercises and the closing of the $3.0M Offering, SHARC Energy enters the year with a strong balance sheet to support its current sales pipeline and sales order backlog,” says Hanspaul Pannu, Chief Financial Officer of SHARC Energy. “With recent announcements such as the Government of Canada’s plan for climate change and clean growth, SHARC Energy is excited to be poised to take advantage of opportunities that arise as part of the transition to a low carbon economy.”  In connection with the Offering, the Company paid eligible finders an aggregate cash fee of $150,015 and issued 1,000,100 compensation warrants to eligible finders (the “Compensation Warrants”). Each Compensation Warrant entitles the holder thereof to purchase one Share of the Company at an exercise price of $0.45 for a period of two years following the date of issuance.All securities issued in the Offering will be subject to a statutory hold period lasting four months and one day following the issue date of the applicable Share.The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.Certain directors and/or officers of the Company participated in the Offering (the “Insider Issuance”). The Insider Issuance constitutes a "related party transaction" under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Insider Issuance was approved by all non-interested directors of the Company, and the interested directors abstained from approval of the same. The Company is relying on Section 5.5(a) of MI 61-101 for an exemption from the formal valuation requirement and Section 5.7(1)(a) of MI 61-101 for an exemption from the minority shareholder approval requirement of MI 61-101 because the fair market value of the Insider Issuance is less than 25% of the market capitalization of the Company. All issuances are subject to applicable regulatory (including the Canadian Securities Exchange) approvals.About SHARC Energy SHARC International Systems Inc. is a world leader in wastewater energy recovery. SHARC systems recycle thermal energy from wastewater, generating one of the most energy efficient and economical systems for heating, cooling, and hot water production for commercial, residential and industrial buildings, reducing their energy costs and carbon footprint. 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 SEDAR at www.sedar.com.Issuance of Stock OptionsThe Company announces that pursuant to its Stock Option Plan, it has granted 1,225,000 stock options to Officers, Directors, Employees and Consultants at an exercise price of $0.345. The stock options will be exercisable for 5 years and subject to vesting conditions.ON BEHALF OF THE BOARD “Lynn Mueller” Chairman and Chief Executive OfficerFor investor inquiries, please contact: Jason Shepherd Investor Relations SHARC Energy Telephone: (250) 212-2122 Email: jason.shepherd@sharcenergy.comFor media inquiries, please contact Mike Tanyi         Director of Marketing and IT  SHARC Energy Telephone: (250) 212-2122  Email: mike.tanyi@sharcenergy.com  The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.Forward-Looking StatementsCertain 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 because of new information, future events or otherwise, except as required by applicable securities legislation.

  • SHARC Energy Chosen to Provide Wastewater Energy Recovery for Seattle’s Greenest Residential Building Complex
    GlobeNewswire

    SHARC Energy Chosen to Provide Wastewater Energy Recovery for Seattle’s Greenest Residential Building Complex

    * First PIRANHA T15 unit ships in Q1 2021 * Announces $3.0M non-brokered equity private placementVANCOUVER, British Columbia, Dec. 02, 2020 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE:SHRC) (FSE:IWIA) (OTCQB:INTWF) (the “Company” or “SHARC Energy”) is pleased to announce its wastewater energy recovery technology will be placed in what is expected to be Seattle’s greenest apartment tower.Sustainable Living Innovations, LLC (“SLI”), a world leader in advanced panelized building design and construction, has agreed to purchase one of SHARC Energy’s PIRANHA T15 units, which will recover the thermal energy from the water that will go down the drains of the 303 Battery project (“303 Battery”). The unit is expected to ship in the first quarter of 2021.The 15-story, 112-unit complex at 303 Battery Street, in Seattle’s Belltown neighbourhood, will also be one of the first residential towers to be certified as Zero Net Energy by the International Living Future Institute (“ILFI”), according to SLI.“It is a major achievement for SHARC Energy to be chosen for such a prestigious project that is truly at the cutting edge of sustainability and design,” said SHARC Energy CEO Lynn Mueller. “The PIRANHA is a breakthrough technology in recovering the energy from the water we now put down the drain every day. It’s an honour to be selected as a key technology to run what will be Seattle’s greenest building, and one of the world’s first to achieve Zero Net Energy certification.”Zero Energy Certification means that a “building is truly operating as claimed, harnessing energy from the sun, wind or earth to produce net annual energy demand through a third-party audit of actual performance data,” according to ILFI.SHARC Energy’s PIRANHA systems are now being fully commercialized and being used — or will soon be installed — in Colorado, Washington State, British Columbia, Alberta, Ontario and in Australia.The PIRANHA systems are a wastewater heat pump, designed to be installed in new or refurbished buildings, to capture wastewater in a single tank and transfer the thermal energy back into a buildings hot water, heating and cooling systems at an average Co-efficient of Performance (“COP”) of 3.5. The wastewater, with excess heat removed, is later released in a controlled flow into the sewer system for treatment. Recovering the thermal energy means reducing or eliminating the need for fossil fuels or electricity for hot water, heating, and cooling, which leads to lower utility and operating costs.Seattle-based SLI is a leader in building affordable multi-family residences. It implements innovative panelized construction techniques and energy-saving technologies to reduce a building’s carbon footprint to build the world’s most efficient residential buildings.Arlan Collins, CEO of SLI said “We are pleased to be working with SHARC Energy on our 303 Battery project – they have been a great partner and we look forward to seeing the results of our combined technologies help the environment.”SHARC Energy continues discussions with SLI to place PIRANHA units in other projects.Seattle and King County continue to be a leader in climate action. SHARC Energy participated in the opportunity that King County provided for public consultation with regards to the development of the template contract that could be used for agreements with private parties (users) for sewer heat recovery. On September 15, King County Council unanimously approved legislation allowing three wastewater heat recovery projects.This legislation is an opportunity for SHARC district energy systems, which can efficiently filter large volumes of wastewater and retrieve the energy in a city’s or town’s sewer systems. SHARC district energy systems are now operating — or soon will be — in Colorado and Washington, D.C. and in the Canadian province of British Columbia, in Burnaby, Richmond, Sechelt and Vancouver.About Sustainable Living Innovations, LLCSLI is a mission-driven company committed to helping close the affordable housing gap for people of all income levels while setting a new standard of sustainable living. SLI manufactures high-performance, panelized buildings for the multifamily market. SLI buildings come in almost any size and shape, are completed faster, have lower operating expenses, and can achieve zero net energy status. Further information about SLI is available on their website at https://sli.co/.Non-Brokered Private PlacementThe Company announces a non-brokered private placement of up to 10,000,000 common shares (“Shares”) at a price of $0.30 per Share for aggregate gross proceeds of up to $3,000,000 (the “Offering”). The Company will use the net proceeds of the Offering for general working capital purposes in support of its sales and marketing efforts. The closing of the Offering is anticipated to occur on or about December 10, 2020 (the “Closing Date”).The Shares are subject to a statutory hold period lasting four months and one day following the Closing Date. The Offering is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the CSE.The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.About SHARC Energy SHARC International Systems Inc. is a world leader in wastewater energy recovery. SHARC systems recycle thermal energy from wastewater, generating one of the most energy efficient and economical systems for heating, cooling, and hot water production for commercial, residential and industrial buildings, reducing their energy costs and carbon footprint. 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 SEDAR at www.sedar.com.ON BEHALF OF THE BOARD “Lynn Mueller” Chairman and Chief Executive OfficerFor investor inquiries, please contact: Jason Shepherd Investor Relations SHARC Energy Telephone: (250) 212-2122 Email: jason.shepherd@sharcenergy.comFor media inquiries, please contact Mike Tanyi         Director of Marketing and IT  SHARC Energy Telephone: (250) 212-2122  Email: mike.tanyi@sharcenergy.com  The Canadian Securities Exchange does not accept responsibility for the adequacy or accuracy of this release.Forward-Looking StatementsCertain 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 because of new information, future events or otherwise, except as required by applicable securities legislation.A video accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/d00f16b1-18c5-4a59-b533-4913921e9558