Amana Receives Approval For IWS Acquisition & to Resume Trading at Open
Amana (AMA:CSE) Receives CSE Approval For Acquisition of IWS & to Resume Trading at Open
Amana Copper Ltd.’s proposed acquisition of International Wastewater Systems Inc. has been conditionally approved by the Canadian Securities Exchange, subject to receipt of final documentation.
Additional information concerning the transaction is provided in the company’s news release dated Sept. 9, 2015, and in the company’s CSE listing statement, which has been filed and is available under the company’s SEDAR profile.
The completion of the transaction remains subject to the satisfaction of all conditions of closing, including final approval of the CSE and the approval of Amana’s shareholders. It is expected that the company will obtain shareholder approval of the transaction by way of a shareholder consent resolution.
International Wastewater Systems Inc.
http://www.sewageheatrecovery.com/
International Wastewater Systems is on the leading edge of wastewater heat recovery technology. The following story by Rowan Oloman provides a quick glimpse into the vast potential of their unique approach to renewable energy.
Turning Wastewater Into Energy: Clean Tech’s Best Kept Secret
Every day the average North American household flushes one full tank of hot water down the drain. In a city of 1 million homes, that is equivalent to approximately $500,000 in energy from natural gas casually flowing into our city sewers daily. Running underneath our homes and buildings there is an untapped energy goldmine.
Globally, it has been acknowledged that in regards to climate change mitigation energy efficiency is the lowest hanging fruit. China recently announced they will spend a whopping US$372 billion in energy conservation and the US plans to invest US$155 billion in energy efficiency projects.
Yet by and large North America continues to ignore the single most cost-effective and most profitable form of energy efficiency, which is to recycle the energy that we’re already wasting.
The simple fact is water enters our buildings at 7-9 degrees Celsius and leaves at 20-25 degrees Celsius. If captured, this wasted heat could be used to fulfill 40-50{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of our buildings energy requirements.
Sometimes innovation is not about a quantum shift in thinking or spending millions in research it’s about re-inventing how we use the technologies already available. Lynn Mueller and his colleagues at International Wastewater Heat Exchange, all with long-time careers in the geothermal heat pump and renewable energy industries, saw the opportunity in wastewater heat recovery.
The company created the SHARC system, an innovation which filters raw sewage and extracts the heat in an easy, maintenance-free way using geothermal heat pumps and chillers. While sewage may not be as attractive as solar or wind power, with a 3-5 year payback period, the SHARC system is likely the most cost-effective renewable energy system currently available.
“We’re operating at 600 percent efficiency,” Mueller says. “So every dollar we spend recovering the heat out of the sewer we get $6 worth of heat out.” Mueller is speaking about his latest successful installation at Seven35 Condominiums complex, in Vancouver Canada.
The SHARC system has reduced Seven35’s annual greenhouse gas emissions by 150 tonnes (averages are between 30{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}-85{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} reduction), is recovering 80{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the buildings wasted energy and has contributed to earning the condominium the first dual ‘green’ certification in Canada – LEED Platinum and Built Green Gold. It’s also the first time the technology has been used at a residential building in North America.
For residents the equation is simple, now they are recycling the same energy over and over again, instead of paying for the natural gas to re-heat their tanks daily.
Reliable, trouble free operation is the major challenge in recovering heat from waste water. The SHARC system has been designed to be clog-proof with an automatic back flush to filter sewage simply and effectively. It has full backup capacity with zero down time and is available in heat exchange or heat pump applications.
Added benefits of the SHARC system include full automation with a DDC or BACnet interface and a wireless or Ethernet connection for data retrieval and instantaneous calculation of COP and GHG savings. The system comes with a factory maintenance and warranty service and can be incorporated immediately into existing mechanical infrastructure.
Mueller, who was previously President of WaterFurnace and Earth Source Energy – the world’s largest installer of heat pumps, is humble about his company’s innovation. “We are a new company simply revolutionizing old technology,” says Mueller. “We saw a way to provide energy easily, cheaply and in a way that is ecologically sound.”
International Wastewater Heat Exchange has opened marketing and distribution channels across Canada and in forty US States. The applications for the SHARC system are multitudinous, from condominiums, to public facilities like sports and aquatic centers, to industrial complexes and district energy systems.
In a world where municipalities are progressively being held responsible for efficiently decreasing their own greenhouse gas emissions, systems like the SHARC will become more and more attractive. The biggest challenge however will be re-framing the way people view waste.
Despite the widespread use of waste-to-energy (WTE) projects in European countries, where innovative projects are supported because space for waste disposal is scarce, in North America waste to energy projects are in still in their infancy. In Germany the majority of waste is recycled, composted or processed by biological or thermal method which is likely why Mueller has already received calls from German companies interested in the technology.
The Collins English Dictionary describes the saying ‘money down the drain’ as money ‘wasted’. The SHARC system turns this old adage on its head.
Rowan Oloman is a freelance writer living in Vancouver Canada. She has written for various greentech communications over the past 4 years, has an MBA in Sustainable Energy and a Master’s Degree in Natural Resource Management. Rowan is currently working for Radiant Carbon, a unique carbon offset provider.
Amana (AMA:C) Congratulates IWS CEO on Canada Clean50 Award
Lynn Mueller, Founder and CEO of International Wastewater Systems Receives ‘Clean50’ Award
Amana Copper Ltd. (“Amana” or the “Company“) (CSE:AMA) would like to congratulate Mr. Lynn Mueller, Founder and CEO of International Wastewater Systems (“IWS”) on being recognized with a Canada Clean50 award (“Clean50”).
Canada’s Clean50 is an annual award offering recognition to Canada’s leaders in sustainability for their contributions over the prior two years. The Clean50 are selected from 16 diverse categories that transcend numerous industries, academia, different levels of government, thought leaders and advocates, and are based on accomplishments delivered over the prior two years.
Mr. Mueller was one of two recipients in the ‘Renewable Energy Generation’ category and received the award at the Clean50 Summit held in Toronto on September 23rd, 2015.
Mr. Mueller’s vision for green energy innovation has established IWS as a world leader in wastewater heat recovery systems. IWS technology provides simple and direct heat exchange from untreated waste water, resulting in the most energy-saving, cost-effective and environmentally friendly solutions for heating, cooling and hot water for any building, residential, commercial or industrial. IWS systems are currently being deployed worldwide for public and private sector clients.
Amana and IWS have signed a definitive agreement (see press release dated September 9th, 2015) pursuant to which Amana will acquire 100{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of the issued and outstanding common shares of IWS subject to shareholder, regulatory and CSE approvals.
About IWS
International Wastewater Systems was founded by a team of technical and engineering professionals with over 100 years of combined experience in the heating, ventilating and geo-exchange industries. With a focus on wastewater heat recovery we are committed to manufacturing quality products that positively impact our environment, saving resources and unnecessary expense for heating and cooling.
For more info: www.sewageheatrecovery.com/
International Wastewater Systems’ £4million Project at Scotland’s Borders College has Begun
SHARC gets teeth into college
Work is currently underway at Borders College’s campus at Netherdale in Galashiels on a project that will see its buildings heated using sewage.
SHARC Energy Systems is the UK-based subsidiary partner of International Waste Water Heat Exchange Inc. (IWHES) based in Canada.
SHARC has secured a £4million investment from Equitix and the UK Green Investment Bank plc (GIB) to finance the installation of the SHARC sewage heat recovery system under heat purchase agreements.
The Equitix-managed fund Energy Saving Investments (ESI), in which GIB is a cornerstone investor, is investing £2m in the programme and an additional £2m of private sector capital has been mobilised from the Equitix Energy Efficiency Fund (EEEF).
This is now being used to support the first project at Borders College and a pipeline of others being developed across Scotland. The first scheme will see waste water from Scottish Water’s network used for the heat recovery system.
Commenting recently on the deal, SHARC chief executive Russ Burton said the flagship installation at Borders College involved a 20-year contract between the college and the company, making it the first organisation to adopt the world-leading technology in the UK.
“It also represents a major step forward in its heat production and energy efficiency targets for the entire campus,” he added.
Borders College, with 5,500 students, has entered into a Heat Purchase Agreement with SHARC, which means the college will purchase their heat from SHARC at a discount to gas prices that will be sustained for an extended period.
The system that has been designed for the college will deliver 95{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} of all its heat requirements.
SHARC has worked with Scottish Water to enable sewage to be intercepted from its network in the Galashiels area. The scheme has been developed in such a way as to not impact on the normal operation of the sewerage network and enable the downstream waste water treatment process to continue working effectively.
Additional automatic monitoring has been built into the system by Scottish Water which, using its water resources, helps support the development of renewable energy, economic growth and sustainable technologies.
The SHARC sewage heat recovery system is already installed in numerous locations across Canada and North America. Unique in the UK and Europe, the system generates energy-saving, cost-effective and environmentally-friendly solutions for heating, cooling and hot water by extracting heat from waste water and sewage.
SHARC installs the equipment and then sells the energy back to the customer through heat purchase agreements.
Lord Smith of Kelvin, chairman of UK Green Investment Bank, said: “We are backing the deployment of innovative new technology across the UK to produce renewable energy, cut energy use, cut costs and improve the UK’s green performance.
“It is enabling SHARC Energy systems to equip Borders College with pioneering technology in an arrangement I hope can be replicated elsewhere in the country.”
Amana Signs Definitive Agreement With IWS
Amana firms up deal to buy Int’l Wastewater for $6.3MM
Amana Copper Ltd. has signed a definitive agreement dated Sept. 4, 2015, with International Wastewater Systems Inc. and its shareholders, pursuant to which Amana will acquire 100 per cent of the issued and outstanding common shares of IWS.
Pursuant to the terms of the definitive agreement, on closing of the transaction: (i) Amana will issue to the IWS shareholders a total of 45 million Amana common shares at a deemed price of 14 cents per consideration share for total aggregate consideration of $6.3-million; (ii) the resulting issuer will be renamed International Wastewater Systems Inc. and will continue the business of IWS, a world leader in waste water heat exchange technology; (iii) management of the resulting issuer will be led by Lynn Mueller, chairman and chief executive officer, and Yaron Conforti, chief financial officer, and the board of directors will comprise Mr. Mueller, Mr. Conforti, Mark McCooey and Paul Lee.
All consideration shares will be subject to escrow conditions and/or resale restrictions, as required by applicable securities laws and Canadian Securities Exchange requirements. The transaction will constitute a fundamental change for the company pursuant to the policies of the CSE. It is expected that the company will obtain shareholder approval of the transaction by way of a shareholder consent resolution. The completion of the transaction is subject to shareholder approval, and CSE and regulatory approvals.
Additional information concerning IWS and the transaction will be provided in a CSE listing statement, which will be made available on the company’s SEDAR profile.