- SHARC International Systems Inc. (SHRC) reported revenues of $0.11 million in the second quarter of 2021
- Increased revenue over the first six months of 2021 was driven by $2.12 million raised via private placement and warrant exercise
- The company also completed several large-scale water projects across the U.S.
- SHARC International Systems Inc. is a world leader in energy recovery
- SHARC International Systems Inc. (SHRC) opened trading at $0.42 per share
SHARC International Systems (SHRC) has released its financial results for the second quarter and first half of the 2021 fiscal year.
The company reported revenues of $0.11 million in the second quarter of 2021, a decrease of $0.01 million compared to Q2 2020.
However, total revenue in the first half of 2021 was up $0.13 million compared to the same period of 2020, reaching $0.3 million.
Increased revenue over the first six months of 2021 was driven by $2.12 million raised via private placement and warrant exercise.
The company also completed several water projects, including the retrofitting of a PIRANHA T15 into WashOut Laundry and a district-scale wastewater recovery system that was developed with the National Western Center.
The project with WashOut is projected to save over 2,100 gigajoules of natural gas per year, and the project with the National Western Centre will prevent 2,600 metric tonnes of carbon dioxide from being released into the atmosphere.
In March, U.S. House Representative Marcy Kaptur, Chairwoman of the House Appropriations Subcommittee on Energy and Water Development, toured the DC Water Headquarters.
“I have never seen a technology that could have as positive of an impact on energy as what I have seen at the DC Water HQ,” she said of SHARC’s innovative technology.
As of today, the company reported a sales pipeline of $3.77 million and a sales order backlog of $2.82 million, representing a 47 per cent cumulative growth compared to the last announced sales in May 2021.
SHARC International Systems Inc. is a world leader in energy recovery. The company is engaged in providing wastewater heat exchange expertise and products to commercial, industrial, public utilities, and residential development projects.
SHARC International Systems Inc. (SHRC) opened trading at $0.42 per share.