Pontus Protein

Mar 17, 2022

Port Coquitlam, British Columbia, CANADA VANCOUVER, British Columbia, March 17, 2022 (GLOBE NEWSWIRE) -- SHARC International Systems Inc. (CSE: SHRC) (FSE: IWIA) (OTCQB: INTWF) ("SHARC Energy" or the “Company”) is announcing it has entered into a non-binding Letter of Intent (“LOI”) with Pontus Protein Ltd . (“Pontus”) (TSXV: HULK) (FSE: 8YC) (OTCQB: HLKKF) for the purpose of integrating the PIRANHA Wastewater Energy Transfer (“WET”) system at Pontus’s aquaponic facility in Surrey, B.C. and any future facilities that Pontus may build. The PIRANHA WET system is a self-contained electric heat-pump system that will efficiently recover the thermal energy from the water that goes down the drain in a building daily and utilize it to provide up to 100% of a building’s hot water demand while reducing up to 100% of the carbon emissions associated with traditional hot water heating. On average, for every $1 of energy used by the PIRANHA, the WET system is able to provide an output of $4. Pontus is an agricultural technology company that is reinventing agriculture with their proprietary Closed Environment Vertical Aquaponic System (“CEVAS”) which helps the company specialize in indoor vertical farming of water lentils that use 95% less water than traditional agriculture, using no pesticides or chemicals, grown and harvested every 24 hours, exceed organic certification and can be grown in any climate in a relatively small area. Sustainability is very important to Pontus as demonstrated by the recycling and reuse of 95% of the water it uses in the water lentil growing and processing at their facility. This focus on sustainability is what attracts Pontus to the PIRANHA. “Sustainability is at our core and we are excited to work with SHARC to integrate their highly efficient heat pump system to reduce our impact on the environment,” says Connor Yuen, CEO of Pontus Protein Ltd. “Looking forward, we want to develop facilities that can be placed anywhere in the world and with minimal inputs consistently delivering highly nutritious food. We believe the PIRANHA WET system will be core technology to deliver this.” “Working with sustainably conscious companies is a perfect fit for SHARC,” says Lynn Mueller, CEO of SHARC Energy. “Pontus is a cutting edge agri-tech company from the Vancouver area that is doing some amazing things with its CEVAS system and we are here to help support their sustainability goals in any way we can.” The LOI will remain in place until the earlier of a purchase order being issued or six months from the date of the LOI. About SHARC Energy  SHARC International Systems Inc. is a world leader in energy recovery 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.