2023-04-27 09:23:53 ET
- SHARC International Systems ( OTCQB:INTWF ) and Subterra Capital Partners has announced a strategic partnership to revolutionize the renewable thermal energy transfer landscape across North America.
- By combining SHARC Energy's innovative WET technology with Subterra's geothermal exchange systems, the partnership aims to bring unparalleled solutions to the market, capturing a greater share for both companies.
- Under the agreement, SHARC Energy and Subterra Renewables will co-develop up to $200M of qualified projects that consist of either the acquisition of existing Systems active in the field today or the development of Systems requiring capital to design, build, own, operate and maintain.
- Upon completion of the deployment of $200M or expiration of the term, Subterra will receive a first right of refusal on any similar relationship for one year.
- Furthermore, the Co. will receive 35% of any net cash flows from Subterra on a development Project, net of debt service payments and operating expenses for a period of 5 years from beginning of commercial operation of the Systems.
For further details see:
SHARC Energy and Subterra Renewables partner to deliver $200M in thermal energy solutions