Strategic Alliances with SHARC
SHARC Energy Systems has established strategic alliances across North America, UK, and Australia to implement SHARC™ and PIRANHA™ systems in buildings and district networks around the world.
In August 2016, the Company announced a joint venture with RENEW Energy Partners LLC to deliver PIRANHA systems across California. RENEW offers energy retrofit analysis, optimization, energy efficiency programs, project management and implementation, and energy finance solutions. SHARC Energy Systems is complementary to RENEW’s core offerings and we are mutually motivated to expand across the US.
In May 2017, the Company announced being awarded a contract to supply its innovative SHARC™ system to the new headquarters of the District of Columbia Water and Sewer Authority (“DC Water”) in Washington, DC. This landmark project in the nation’s capital will help the building surpass LEED® Platinum Certification.
In October 2016, the Company announced a strategic alliance with Scottish Water Horizons Ltd., the commercial subsidiary of Scottish Water, a public water utility owned 100 percent by the Scottish Government. Scottish Water Horizons and SHARC Energy are joining forces to help businesses and public organizations reduce heating costs and carbon emissions.
The alliance has secured projects with local authorities for five locations across Scotland with approximately $17.3 million in installations. Scottish Water Horizons has estimated that up to 750 such systems would need to be installed by 2020 to enable Scotland to achieve its carbon savings targets.
In May 2017, the Company announced the receipt of £4.95 million in grants, to subsidize the cost of SHARC installations at five locations, from the Scottish Government for their “Low Carbon Infrastructure Transition Programme”.