VANCOUVER, British Columbia, Dec. 01, 2025 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) is pleased to announce it has filed financial results for the three and nine months ended September 30, 2025. All figures are in Canadian Dollars and in accordance with IFRS unless otherwise stated.

Third Quarter and Year to Date (YTD) Financial Highlights:

• Revenue for the nine months ended September 30, 2025 (“YTD 2025”) is $2.69 million (M), representing 124% of the full year revenue in 2024 and a 15% increase over the $2.34M of revenue reported in the nine months ended September 30, 2024 (“YTD 2024”). Revenue increased 6% to $0.83M for the three months ended September 30, 2025 (“Q3 2025”) compared to $0.79M reported for the three months ended September 30, 2024 (“Q3 2024”).
  
• As of December 1, 2025, the Company has a Sales Pipeline¹ of 16.6M and Sales Order Backlog² of $3.4M. This represents a ~$0.25M decrease or 7% decrease in Sales Order Backlog since August 29, 2025 disclosure. Sales Pipeline saw a nominal increase since August 29, 2025 disclosure reflecting the deliberate efforts by the Company to refill the pipeline once projects convert to the order book. The combined pipeline showed a nominal decrease of 1% or $0.2M from the previous disclosure on August 29, 2025. The $3.4M Sales Order Backlog, which is estimated to be converted to revenue within an average of 12 months from disclosure, represents a 58% improvement compared to the year ended December 31, 2024 revenue of $2.17M. The Company continues to observe the maturity of its Sales Pipeline leading to improved revenue consistency and reduced volatility, providing a strong platform to scale and grow.
  
• During Q3 2025, the Company reported a loss of $0.74M and an Adjusted EBITDA³ loss of $0.5M. This compares to a loss of $0.83M and an Adjusted EBITDA loss of $0.64M in the comparative quarter representing a 12% reduction and 22% improvement, respectively.
  
• During YTD 2025, the Company reported a loss of $2.47M and an Adjusted EBITDA loss of $1.53M. This contrasts to a loss of $2.31M and an Adjusted EBITDA loss of $1.65M in the comparative period representing a 7% increase and 7% improvement, respectively.
  
• Gross margins for Q3 2025 and YTD 2025 were 39% and 38%, respectively, compared to 32% and 37% reported in Q3 2024 and YTD 2024, respectively. Management remains optimistic that this margin range aligns with our expectations for the coming quarters but the margin percentage varies dependent on sales mix and stage of completion of each project.
  

Michael Albertson, Chief Executive Officer and President of SHARC Energy, said, “2025 marks a turning point for SHARC Energy. With $2.69 million in revenue year to date achieved, we are on a clear trajectory to exceed $3 million by year end which will surpass every prior revenue milestone in the Company’s history. This momentum underscores the accelerating adoption of SHARC technology across the markets we serve and sets the stage for a transformational 2026.”

“Reaching $3 million in 2025 would further validate the strong correlation between backlog expansion and revenue growth. Based on our historical cadence, our Sales Order Backlog turns to revenue in roughly a year, subject to project mix, providing a clearer line of sight into our future performance.”

Mr. Albertson continued, “Our Sales Order Backlog continues to evolve in both volume and project diversity. The large-scale district energy projects we are currently in final negotiation on represent an entirely new tier of opportunity for SHARC Energy—projects that individually exceed or rival our existing backlog alone. We expect these wins to meaningfully reshape our growth profile in 2026 and beyond.”

“We are currently entering several new market sectors, ranging from wastewater treatment plants and universities to utilities, correctional facilities, and data centers, with our evolving product portfolio. These sectors represent meaningful diversification opportunities for our backlog and future revenues, and many offer fewer regulatory barriers and faster sales cycles. We expect to close new business in these areas by the next reporting date. We are very excited for the continuous growth of the Company.”

YTD 2025 Key Highlights and Subsequent Events

• SHARC System Powers Groundbreaking Sen̓áḵw District Energy System. The SHARC WET system will be the core component of the Sen̓áḵw Energy System, the largest real estate development in Canadian First Nations history. The SHARC WET system was shipped to the project in Q2 2025.
• SHARC Systems Shipped to US Government-Affiliated Project. The Company announced the shipment of two SHARC 880 WET Systems to a U.S. government-affiliated project. Further information about the project will be released at a later stage.
• SHARC System Featured in Ottawa’s Lebreton Flats District Energy Project. The Company announced that two SHARC 880 Wastewater Energy Transfer (“WET”) systems will be used to power a district energy system in Canada’s capital city. SHARC Energy anticipates commencing submittals for the SHARC WET Systems in 2025 with equipment build and delivery expected during 2026
• False Creek Neighbourhood Energy Utility (“NEU”) Expansion. The Company continued work on the supply and maintenance agreement with the City of Vancouver for the provision and maintenance of five SHARC systems for the False Creek NEU Expansion. During the three months ended March 31, 2025, the Company completed all remaining milestones of the agreement.
• SHARC System U.S. and European Patents. SHARC Energy has been granted key patents for it SHARC wastewater heat exchange system in the United States and Europe. The newly granted patents provide protection until February 14, 2043 and July 2, 2042, respectively. Additional filings are pending in Canada, Australia, the United Kingdom, Mexico, United Arab Emirates, Saudi Arabia, India and South Korea, with additional European “Unitary Patent” validations planned in multiple EU member states.
• Closing of $1.57 Million Unsecured Convertible Debenture. SHARC Energy has closed a non-brokered private placement of unsecured convertible debentures of the Company for a principal amount of $1,570,000.
• Fred Andriano appointed as Chairman of the Board of Directors. On May 5, 2025, the Company announced significant changes to its Board of Directors, appointing Fred Andriano as Chairman of the Board and Executive Officer, replacing Lynn Mueller, who will now serve as Vice Chairman and Executive Officer. Furthermore, the Company accepted the retirement and resignation of Eleanor Chiu as Director.
  

For complete financial information for the three and nine months ended September 30, 2025, please see the Condensed Consolidated Interim Financial Statements and Management Discussion and Analysis (“MD&A”) filed on SEDAR at www.sedar.com.

About SHARC Energy  
SHARC International Systems Inc. is a world leader in energy transfer with the wastewater we send down the drain every day. SHARC Energy's systems exchange thermal energy with wastewater, generating one of the most energy-efficient and economical systems for heating, cooling & hot water production for commercial, residential and industrial buildings along with thermal energy networks, commonly referred to as “District Energy”.

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 | Customers | LinkedIn | YouTube | PIRANHA | SHARC

ON BEHALF OF THE BOARD

Fred Andriano
Chairman

For investor inquiries, please contact:
Hanspaul Pannu
Chief Financial & Operating Officer
SHARC Energy
Telephone: (604) 475-7710 ext. 4
Email: hanspaul.pannu@sharcenergy.com

For media inquiries, please contact:
John Louis Fahie
Marketing
SHARC Energy
Telephone: 604.475.7710 Ext.109
Email: johnlouis.fahie@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 because 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.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/d66a199f-d126-4a8f-ad99-9afc97bb4375 

https://www.globenewswire.com/NewsRoom/AttachmentNg/ecf9757b-65f1-4178-bdf9-c6605081448b

¹ Sales Pipeline is a non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Q3 2025 MD&A.
² Sales Order Backlog is a non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Q3 2025 MD&A.
³ Adjusted EBITDA is a non-IFRS measure. Please see discussion of Alternative Performance Measures and Non-IFRS Measures in the Q3 2025 MD&A.

Sales Pipeline and Sales Order Backlog

Last 8 reporting period Sales Pipeline and Sales Order Backlog

12-month Trailing Revenue

12 Month Trailing Revenue

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