VANCOUVER, British Columbia, Aug. 05, 2026 (GLOBE NEWSWIRE) — SHARC International Systems Inc. (“SHARC Energy” or the “Company”) (CSE: SHRC) (OTCQB: INTWF) (FSE: IWIA), one of the world leaders in wastewater energy transfer (“WET”), today announced a series of executive leadership changes approved by its Board of Directors as part of the Company’s ongoing strategic evolution.
Effective immediately, the Board of Directors has appointed a refreshed executive leadership team to support SHARC’s next phase of growth. As part of this transition, Lynn Mueller will step away from his day-to-day responsibilities with the Company. The Board intends to finalize a consulting agreement with Mr. Mueller focused on business development and strategic growth initiatives, subject to Board ratification. The Board believes Mr. Mueller’s extensive industry expertise, longstanding customer relationships and vision will continue to provide meaningful value as SHARC executes its strategic growth initiatives. The Company has also concluded the contractual relationship with Hanspaul Pannu, Chief Financial Officer.
To ensure continuity and a seamless transition within the Company’s finance function, Fred Andriano, Chairman of the Board, has been appointed Interim Chief Financial Officer, and Treasurer, effective immediately. Mr. Andriano brings significant executive leadership, financial oversight and public company governance experience and will work closely with the Company’s finance team while the Board undertakes a search for a permanent Chief Financial Officer.
The Board has appointed Michael Albertson President. Mr. Albertson will continue to lead the Company’s day-to-day operations and will focus on product innovation, commercial execution, strategic partnerships and revenue growth, leveraging his extensive experience in the wastewater infrastructure and clean energy sectors.
The Board has also appointed Shane Dungey as Interim Chief Executive Officer and Executive Vice Chair. Mr. Dungey currently serves as a Director of the Company, Chair of the Compensation Committee and member of the Strategic Planning Committee. In his role as Interim Chief Executive Officer, he will work closely with the Board, executive leadership team and employees to strengthen corporate governance, enhance operational execution and advance the Company’s strategic priorities while the Board evaluates the Company’s long-term executive leadership structure.
“On behalf of the Board, I would like to sincerely thank Lynn for his decades of dedication to SHARC Energy,” said Fred Andriano, Chairman of the Board. “Lynn’s vision, passion and entrepreneurial leadership were instrumental in developing SHARC’s proprietary wastewater energy technology and establishing the Company as a recognized innovator in sustainable energy infrastructure. His contributions have created the foundation upon which SHARC continues to build. We are pleased that Lynn will continue to support the Company in a consulting capacity, and we look forward to leveraging his extensive industry knowledge, customer relationships and experience as we continue to grow the business.”
Mr. Andriano continued, “The Board is confident that Michael’s operational leadership, combined with Shane’s extensive capital markets, governance and strategic advisory experience, provides SHARC with a strong leadership team as we execute on the next phase of the Company’s growth strategy. Our focus remains on delivering value to our customers, partners and shareholders while strengthening our operational and financial performance. As Chairman, and in my capacity as Interim Chief Financial Officer, I look forward to working closely with our management team to ensure a seamless transition while maintaining disciplined financial management, operational execution and our commitment to creating long-term shareholder value.”
Commenting on his appointment, Shane Dungey said, “SHARC has developed an innovative technology addressing one of the largest opportunities in building decarbonization and energy efficiency. I look forward to working alongside the Executive, our talented employees, customers and Board of Directors as we build on the Company’s strong technological foundation, improve execution, strengthen governance and position SHARC for long-term sustainable growth and shareholder value creation. We have an exceptional team, outstanding technology and significant market opportunities ahead, and I am excited to help lead the next chapter of SHARC’s growth.”
Michael Albertson added, “I am excited to continue leading our operating business and serving our customers around the world. Our commercial pipeline, strategic partnerships and technology position remain exceptionally strong, and I look forward to working closely with Shane and the Board as we continue to execute on our growth initiatives. By focusing on innovation, customer success and revenue generation, we are well positioned to capitalize on the significant opportunities ahead.”
The Board has commenced a process to evaluate the Company’s long-term executive leadership structure. Mr. Dungey will serve as Interim Chief Executive Officer until a permanent appointment is made or until otherwise determined by the Board.
About SHARC Energy
SHARC International Systems Inc. is one of the world leaders in energy transfer using the wastewater we send down the drain every day. SHARC Energy’s systems recover thermal energy from wastewater to provide low-carbon heating, cooling and domestic hot water for commercial, residential and industrial buildings, significantly reducing energy consumption and greenhouse gas emissions.
For more information, please visit www.sharcenergy.com.
ON BEHALF OF THE BOARD
Fred Andriano
Chairman of the Board
For investor and media inquiries:
SHARC International Systems Inc.
Telephone: +1 (604) 475-7710
Email: ir@sharcenergy.com
Website: www.sharcenergy.com
Forward-Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. Forward-looking statements include, but are not limited to, statements regarding the Company’s executive leadership transition, strategic initiatives, operational execution, business development initiatives, growth opportunities, future financial and operating performance, the continued contribution of Mr. Mueller as a consultant, the appointment of a permanent Chief Financial Officer and Chief Executive Officer, and other statements that are not historical facts. Forward-looking statements are based on current expectations, estimates and assumptions that involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied by such statements. Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update forward-looking statements except as required by applicable securities laws.
