Schneider Power Inc. (Formerly Water Capital Inc.) Announces Final Approval of Its Qualifying Transaction With Schneider Power Inc.

Canada's Renewable Energy Company, Schneider Power Inc. (formerly Water Capital Inc.) (the "Corporation") (TSX VENTURE: SNE) announced today that further to the completion of the acquisition of all the issued and outstanding shares of Schneider Power, the TSX Venture Exchange Inc. has issued its Final Exchange Bulletin regarding the transaction. This acquisition involved an amalgamation between the Corporation and Schneider Power and was the Corporation's arm's length qualifying transaction pursuant to the policies of the Exchange.

The acquisition together with the details of the Corporation, Schneider Power and the resulting issuer are described in the Corporation's Filing Statement dated July 25, 2008. A copy of the Filing Statement may be viewed on SEDAR at www.sedar.com.

Commencing on the opening of business on August 28, 2008, the Corporation will be a Tier 2 issuer whose shares will be listed for trading on the Exchange with the symbol (TSX VENTURE: SNE). As part of the transaction, the Corporation changed its name to Schneider Power Inc. and intends to appoint Deloitte & Touche LLP as its new auditors.

The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved of the contents of this release.

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