VANCOUVER, British Columbia, Oct. 18, 2023 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) is pleased to announce the appointment of Dermot Sweeny, President and Founder of Sweeny&Co Architects Inc. (“Sweeny&Co”), to its Board of Directors. Mr. Sweeny’s extensive experience and dedication to sustainable architectural design directly aligns with SHARC Energy’s mission of advancing environmentally responsible energy solutions.

Mr. Sweeny has an impressive track record of advocating for sustainable building practices, emphasizing the reduction of carbon footprints, and promoting health and wellness within architectural spaces. His firm, Sweeny&Co, has achieved numerous awards from reputable institutions, like the Canadian Green Building Council and the Urban Land Institute, for their sustainable building designs.

This strategic appointment highlights SHARC Energy's ongoing commitment to creating significant value for our shareholders by bringing together industry experts who passionately embrace our vision of advancing sustainability. Collaborating with industry partners seeking cutting-edge technology to enhance the economics of sustainable development, we are dedicated to catalyzing positive change within the sustainable energy sector.

Mr. Sweeny's extensive expertise and industry knowledge make him a valuable addition to our team, propelling the Company towards becoming the premier solution in the sustainable energy sector. His contribution will play a pivotal role in advancing our mission and establishing SHARC Energy as the leading choice for sustainable energy solutions, delivering unparalleled ROI within the industry.

Lynn Mueller, CEO of SHARC Energy, remarked, “Dermot's appointment to our board exemplifies our dedication to aligning with industry leaders to boost the visibility and utilization of SHARC Energy's products. His expertise will offer valuable insights, empowering SHARC to deliver enhanced value to our shareholders through informed and sustainable strategies.”

With a strong background in mixed-use, residential, commercial, and institutional architecture, Mr. Sweeny brings a wealth of knowledge that will be instrumental in guiding the Company’s strategic direction. His understanding of real estate development, sustainability, and development consulting will be invaluable as the Company continues to grow and seeks to enhance shareholder value through sustainable initiatives.

Some of Mr. Sweeny’s notable projects include Queen Richmond Centre West, Waterfront Innovation Centre, and One York-Sunlife’s HQ in Toronto, showcasing his ability to blend innovative systems with high-performance, sustainable designs. Many of the Class AAA office buildings designed by Sweeny&Co are LEED Platinum or Gold and have won numerous sustainability awards. These projects reflect a synergy with SHARC Energy's goals of optimizing value while adhering to a responsible environmental ethos.

Currently, Sweeny&Co has designed Wastewater Energy Transfer (“WET”) equipment, for the purposes of sustainable heating, cooling and hot water, into as many as ten upcoming projects. Architectural designs represent the earliest opportunity to introduce SHARC Energy equipment to a project and fostering the adoption of SHARC Energy products by Architects is crucial to the Company’s success.

“As a shareholder of SHARC Energy and now a Director, I strongly believe in the technology's potential to drive decarbonization in buildings and support Architects in achieving LEED status for their projects. Additionally, the robust economic benefits it offers make complete sense, further solidifying my confidence in SHARC's trajectory. I look forward to drive the Company toward its growth goals over the coming years!”

Mr. Sweeny controls 4,100,000 common shares of the Company, which represents 2.6% of the outstanding capital. Mr. Sweeny’s addition brings insider ownership of SHARC Energy to 14.1%.

About SHARC Energy  

SHARC International Systems Inc. is a world leader in energy transfer from the wastewater we send down the drain every day. SHARC Energy's systems recycle thermal energy from wastewater, generating one of the most energy-efficient and economical systems for heating, cooling & hot water production for commercial, residential and industrial buildings.

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.

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Learn more about the CAGBC & LEED Certification: CAGBC | 4Thoughts

Issuance of Stock Options

The Company announces that it has granted 100,000 stock options to Directors at an exercise price of $0.245 with vesting conditions. The stock options will be exercisable for 5 years.

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 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.