VANCOUVER, British Columbia, March 18, 2019 (GLOBE NEWSWIRE) -- Sharc International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC" or "the Company") is pleased to announce that the Company’s UK subsidiary SHARC Energy Systems (“SHARC Energy”) have been appointed to support the development of the new low temperature District Heating Scheme (“DHS”) in Stirling, Scotland.
The $10.6M (£6M) project is being developed between Stirling Council and Scottish Water Horizons, who have contracted FES Support Services Ltd. as the main contractor to Design and Build the heat network and Energy centre to be located on the Stirling Forthside Wastewater Treatment Works. The new SHARC installation will be the second District Heating Scheme in the UK to adopt SHARC Sewage Heat Recovery, with work due to complete in spring 2019.
SHARC Energy will work with main contractors FES Support Services Ltd. to Design, Build and Operate (“DBO”) the Sewage Heat Recovery system and support an ongoing operating activity to deliver the 4th generation district heating service, designed to operate at a 60/40 flow and return temperature in the Forthside area of the town. The network will provide heating to several private and publicly owned buildings, with scope for the network to be expanded across the city to include homes, helping tackle fuel poverty and provide financial savings for businesses.
SHARC Energy’s technology reclaims heat from the waste water that homes and businesses pour down the drain every day, reusing it to generate low-carbon, low cost, sustainable clean heat that can displace the use of carbon intensive natural gas and other fossil fuels.
This scheme, alongside the new 2 MW capacity District Heating Scheme currently being built by SHARC Energy in the Dalmarnock area of the Clyde Gateway regeneration program, provides further evidence of the opportunity to use large scale heat pumps to support the growing appetite for low carbon district heating now emerging across the UK.
UK-based SHARC Energy, a wholly owned European arm of Vancouver-based International Wastewater Systems Inc. (CSE: SHRC) (FRANKFURT: IWIA), has adopted Glasgow as its home for expansion across the UK and wider European Union, creating jobs and furthering the development of Scotland’s low carbon economy. The Canadian company has built a strong pipeline of projects across the UK, with a growing interest in using the pioneering renewable heat technology to help businesses make vital savings in energy, costs and carbon emissions.
Commenting on the new contract, SHARC’s Chief Operating Officer Russ Burton said, “The value of the waste water that flows beneath the streets of the world is a vital and largely untapped resource that could support a significant uptake of highly efficient Water Source heat pumps in Urban Centres, where space restrictions limit alternative approaches. By capturing some of the massive energy reserves held in our sewers we can significantly contribute to the circular economy and reduce the carbon emissions & other air pollutants that arise from combustion-based heating."
Burton continued “By taking a sub-contract role in the scheme and supporting FES Support Services Ltd. with our specialist services, this project provides us with an opportunity to explore how our business model can be flexed to create more opportunities to deploy our technology and we are hugely excited to work with the Stirling project team to ensure the success of this development.”
"As we start 2019 on a continued growth curve, I am very thrilled about the development of the new Stirling district heating scheme and working with FES and the wider Stirling District Heating Team, reaffirming our commitment from both sides of the pond to Scotland’s low carbon plans," said Lynn Mueller, CEO of SHARC. "The formation of this strategic relationship that Russell and his team has put together is another step forward for SHARC and is part of our ongoing commitment to carbon emissions reduction with our customers through our technology.”
About SHARC Energy Ltd. (UK)
SHARC Energy is a wholly owned subsidiary of SHARC International Inc. a world leader in wastewater heat recovery, based in Vancouver British Columbia and a public company trading on the Canadian Securities Exchange (CSE: SHRC) & Frankfurt Börse (FRANKFURT: IWI).
Located in Glasgow and Nottinghamshire, the UK operation delivers sewage heat recovery technology and support services across the wider UK and EU.
Russ Burton (SHARC International Inc. Chief Operating Officer and head of European Operations) has worked at a senior level in the property and commercial sectors for thirty years. SHARC represents the realisation of his personal ambition to support the Green Energy agenda and contribute to tackling the social challenges of climate change and fuel poverty.
In December 2015, the company completed its first installation in the UK at the Borders College campus in Galashiels, this was the first example in the UK of heat being extracted from the waste water network, helping the college to realise 150 tonnes a year of carbon savings against their carbon reduction commitments.
Press enquiries with SHARC Energy Ltd. in the UK, please contact Martin Hardwidge at martinh@mhamarketing.co.uk
For more information SHARC Energy Ltd. please contact Russell Burton at russell.burton@sharcenergy.com or Milli Burton at milli.burton@iws-sharc.com and follow the company on Twitter @sharcenergy.
About Scottish Water Horizons
Scottish Water Horizons Ltd. is a commercial subsidiary wholly owned by Scottish Water. The company plays a key role in supporting the development of Scotland’s sustainable and circular economy by making the most of the public utility’s vast array of assets.
From generating renewable energy from waste, wind and solar power to recycling food and aggregates waste, Scottish Water Horizons is improving connections, communications and enabling sustainable development.
The company’s growth strategy is to support Scotland as a developing Hydro Nation and take opportunities to harness Scottish Water’s asset base through both its own development and working in partnership with other organisations including the public and private sectors.
For more information on Scottish Waters Horizons please contact Donald MacBrayne at donald.macbrayne@scottishwater.co.uk
Further information about Scottish Waters Horizons is available on there website at www.scottishwater.co.uk/horizons
About the FES Support Services Ltd.
Operating for over 50 years with an annual turnover over £250M and employing over 2,000 staff across the UK, FES are a major UK building and specialist services company with significant investment and success in education and healthcare PFI/ PPP contracts and a delivery capability that extends from Principal Contractor, providing a complete construction service, through a comprehensive range of building, prefabrication, technical, fit-out and facilities management services including renewable technologies.
For more information on FES please contact Charlie Easton, Director at ceaston@fes-group.co.uk
Further information about the FES is available on there website at www.fes-group.co.uk/about
About SHARC International Systems
SHARC International Systems Inc. is a world leader in thermal heat recovery. SHARC™ technology 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 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 further information, please contact:
Investor Relations
Jeff Walker
The Howard Group
Telephone: (888) 221-0915 or (403) 221-0915
Email: jeff@howardgroupinc.com
Jamie Hyland
SHARC International Systems Inc.
Telephone: (604) 442-2425
Email: jamie.hyland@sharcenergy.com
Martin Hardwidge
MHA Marketing Communications Ltd.
Telephone: +44 07870 243804
martinh@mhamarketing.co.uk
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in policies of the Canadian Securities Exchange) accepts 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'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 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.