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Sharc International Systems Inc
Symbol SHRC
Shares Issued 28,319,258
Close 2018-03-08 C$ 0.42
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Sharc receives Piranha order from Environmental Tech

2018-03-08 17:40 ET - News Release

Mr. Lynn Mueller reports


Sharc International Systems Inc. has received its first purchase order for one Piranha waste water heat recovery system from Environmental Technology Solutions Pty. Ltd. (ETS).

On Oct. 26, 2017, the company announced a strategic licensing agreement with ETS of Australia, for the commercialization of its Piranha and Sharc waste water heat recovery systems in Australia and New Zealand. The licensing agreement gives Sharc a platform to launch its products throughout Australasia and to strengthen its first mover advantage in all parts of the world.

Pursuant to the agreement, Sharc received this initial purchase order from ETS. The order is intended to supply one of Australia's largest hotel operators, Meriton Suites, with one Piranha waste water heat recovery system that will provide immediate and long-term economic and environmental savings.

Meriton Suites has 17 establishments and a total of 4,469 suites, making it Australia's largest owner of hotel rooms. Known for its exceptional living spaces and amenities, Meriton Suites delivers a world-class experience to its guests. Hotel staff and guests demand a significant amount of hot water, and most of that energy is lost down the drain. With the installation of its first Piranha waste water heat exchange system, Meriton Suites is recognizing guest preferences for ecofriendliness, while substantially decreasing energy costs within its hotel's daily operations.

"Following October's announcement of our licensing agreement with ETS, receiving the first purchase order from ETS marks an important milestone in our sales and deployment strategy to strengthen our first-to-market advantage in all parts of the world," said Lynn Mueller, chief executive officer of Sharc. "We are very pleased to be working with Australia's top environmental solutions company, ETS, and look forward to many more sales in 2018."

"We are extremely excited, not only to be the holder of the licence in Australia and New Zealand for this unique technology, but to be involved with the team at Sharc International Systems," said Philip Mitchell, director, ETS. "This order represents a significant milestone for the Sharc technology in this market. Meriton Suites are the largest apartment builders and owners in Australia, so the sale of this system will be a catalyst for future sales. We have no doubt that this will be the first of many, many systems that will be installed here."

About Sharc International Systems Inc.

Sharc International Systems is a world leader in thermal heat recovery. Sharc systems recycle thermal energy from waste water, generating one of the most energy-efficient and economical systems for heating, cooling and hot water preheating for commercial, residential and industrial buildings.

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