VANCOUVER, British Columbia, March 23, 2018 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE:SHRC) (FSE:IWIA) (OTCQB:INTWF) ("SHARC") is pleased to announce that it has entered Sales Representative Agreements (“Sales Agreement”) with HIGHMARK NY, LLC (“HIGHMARK”).
Under the terms of the Sales Agreement, HIGHMARK has been authorized to sell Vancouver-based SHARC products throughout the New York City metro area, effective immediately.
The partnership combines SHARC’s unique and innovative waste water energy recycling technology, which provides efficient and economical space heating and cooling for commercial, residential and industrial buildings, with HIGHMARK’s commitment to reducing energy consumed and carbon emissions produced by New York City’s buildings.
New York City-based HIGHMARK is a pioneer in building efficiency as it searches the world for the most innovative products and technologies on the market. The team consists of a global network of HVAC professionals committed to ensuring buildings operate as efficiently as possible. Since its founding in 2013, the company has experienced double-digit annual growth, and continues to expand its extensive client base.
"SHARC shares our commitment to challenging the status quo by increasing building efficiency, and it's an honor to represent their remarkably innovative technology in the New York City market," said Richard Gerbe, Co-Founder and CEO of HIGHMARK. "The amount of energy that's wasted to heat domestic water in buildings is astronomical. Fossil fuels are burned to heat the water, the energy is then flushed down the drain with the wastewater and new energy is required to heat more water, thus burning more fossil fuels. It's a vicious cycle of inefficiency and wasted energy," he said.
"SHARC technology puts an end to this energy waste," Gerbe continued. "Its technology recovers the energy used to heat water and keeps the energy in the building to be reused for additional heating, cooling and conditioning. Essentially, SHARC is the last line of defense for energy recovery by reusing energy from domestic water systems and industrial cleaners. It's a privilege to be the first company in the New York City metro area to represent such an outside-the-box technology."
SHARC Founder and CEO Lynn Mueller commented on the partnership, “We selected HIGHMARK as a like-minded, purpose-driven partner, and believe in their company’s mission to tap into the 87 billion gallons of waste water in North America and Europe that go directly into the sewer each day, which can potentially replace 1.5 billion Mwh of natural gas now used for heating and cooling."
“We are excited about extending our product sales into the New York City metro area with HIGHMARK,” Mr. Mueller continued. “HIGHMARK shares our mission to revolutionize the HVAC industry and understands the enormous potential of SHARC technology. It’s an ideal fit.”
Vancouver-based SHARC is rapidly becoming recognized for its line of energy systems that extract the heat energy from waste water. SHARC recently won Best Innovation at the Scottish Green Energy Awards for the installation of the United Kingdom’s first sewage heat recovery system at Borders College in Scotland, which aims to displace 1.8 GWH (GigaWatt Hours) of natural gas and eliminate more than 230 tonnes of carbon emissions per year.
SHARC’s first US project, announced November 7, 2017 and currently under construction, will provide heat and cooling for the new $60 million District of Columbia Water and Sewer Authority (DC Water) headquarters in Washington DC.
About HIGHMARK NY, LLC
HIGHMARK helps engineers, contractors, building owners and building operators who are serious about building efficiency and sustainability by rigorously vetting the best technologies, embracing new innovations and challenging the status quo, with a focus on HVAC, energy services and water management. Since 2013, we’ve partnered with likeminded industry leaders from across the globe in order to bring to market high-quality and advanced products and technologies that will better the built environment for centuries to come.
About SHARC International Systems
SHARC International Systems Inc. is a world leader in thermal heat recovery. SHARC 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).
The Company also announces the issuance of 250,000 stock options at $0.46 to directors, management, and consultants of the Company for a term of twelve (12) months.
ON BEHALF OF THE BOARD
Chairman and Chief Executive Officer
For further information, please contact:
Telephone: 604 782 0773
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.
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.