Lebreton Flats redevelopment Conceptual illustration of the site, showing the four-storey terraced podiums of two buildings. On the podiums, outdoor lounges and a childcare play area are shown. At the ground level, the buildings will include a community bike shop, community hub and a wastewater energy facility. In the outdoor space between the towers, there is a gathering circle, a central parkette and a wedge park. VANCOUVER, British Columbia, May 09, 2025 (GLOBE NEWSWIRE) -- SHARC International System ...

Core Points - SHARC International Systems Inc. has appointed Fred Andriano as Chairman of the Board of Directors and Executive Officer, replacing founder Lynn Mueller, who will remain as Vice Chairman [1][4] - The company aims to leverage its strengths in the heat transfer sector and expand its market presence under the new leadership [3][4] - The Board of Directors has accepted the retirement of Eleanor Chiu, who has served for nearly six years and held 5% of the company [5][6] Leadership Experience - Fred Andriano brings 20 years of experience in the heating and cooling energy sector, previously serving as Vice President of Finance and Administration at NIBE North America and CFO at WaterFurnace International [2] - His background includes significant roles in finance, accounting, corporate governance, and mergers and acquisitions, which are expected to benefit SHARC Energy's growth strategy [2] Strategic Vision - The new leadership is focused on accelerating the company's growth and expanding its geographical reach, product offerings, and market presence [4] - The company is recognized as an emerging player in the industry, particularly in Wastewater Energy Transfer products, which are seen as having significant market potential [4][6] Company Overview - SHARC Energy specializes in energy recovery from wastewater, providing energy-efficient systems for heating, cooling, and hot water production for various building types [8] - The company is publicly traded in Canada, the United States, and Germany, indicating a broad market presence [9]

Core Insights - SHARC International Systems Inc. reported a strong growth year in 2024, with revenues increasing by 36% from $1.59 million in 2023 to $2.17 million in 2024, and anticipates continued growth with a Sales Order Backlog of nearly $3.0 million for 2025, representing a potential 38% increase over 2024 revenue [1][2] Financial Performance - Revenue for the year ended December 31, 2024, was $2.17 million, a 36% increase from $1.59 million in 2023 [2] - The company reported a loss of $3.72 million for the year, which is a 5% decrease from the loss of $3.9 million in 2023 [2] - Adjusted EBITDA loss for the year was $2.57 million, which increased by 5% compared to $2.45 million in 2023 [2] - Gross margins for the year were 42%, slightly down from 43% in 2023 [2] Sales Pipeline and Order Backlog - As of April 30, 2025, the company has a Sales Pipeline of $16.8 million and a Sales Order Backlog of $3.0 million, reflecting a 20% growth in Sales Order Backlog since November 2024 [2] - The Sales Order Backlog is expected to convert to revenue within an average of 12 months, indicating a solid platform for revenue consistency and growth [2] Project Developments - The company is involved in several Thermal Energy Network (TEN) projects, which are gaining traction across North America, including municipal and utility-supported systems in the Greater Vancouver area [1][3] - SHARC Energy is expanding into new sectors such as wastewater treatment facilities, universities, and water utilities, which are expected to provide fewer regulatory hurdles and shorter sales cycles [3] Leadership Changes - Michael Albertson was appointed as the new CEO, President, and Director on December 12, 2024, succeeding Lynn Mueller, who remains as Executive Chairman [4] - Fred Andriano joined the Board of Directors, bringing experience from his previous role as CFO at WaterFurnace International [4] Financing Activities - The company closed a non-brokered private placement of debenture units, raising $2 million at an 8.0% interest rate [4] - Insider ownership represents 16% of the current outstanding float, with management and directors purchasing 5,653,396 common shares during the year [5] Market Position - SHARC Energy is recognized as a leader in energy recovery from wastewater, providing energy-efficient systems for heating, cooling, and hot water production [6] - The company is publicly traded in Canada, the United States, and Germany, enhancing its visibility and market reach [7]