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Schneider Power Inc.: Schneider Power Announces Board Changes

^{Published on 2009-01-07 07:42:34, Last Modified on 2009-01-07 07:43:17 - Market Wire}
 

TORONTO, ONTARIO--(Marketwire - Jan. 7, 2009) - Schneider Power Inc., (TSX VENTURE:SNE) today announced the appointment of Lewis Reford to the Board of Directors. Mr. Reford is a leading energy and corporate finance professional with international expertise in renewable energy generation. He currently serves as the Toronto-based Head of Energy Investments for the Gazit Group, a multinational real estate investment company. Prior to his role with Gazit, he served as President & CEO of MGI Securities, a full-service Canadian boutique brokerage firm and Managing Director with J.P. Morgan Securities, one of Wall Street's most successful global investment banks. He also ran for Parliament in the 2006 federal election on behalf of the Conservative Party of Canada. Mr. Reford holds a degree in geophysical engineering from the Colorado School of Mines and serves on the board of a number of civic cultural institutions including the Sony Center for the Performing Arts.

Schneider CEO Jonathan Lundy commented, "Mr. Reford understands the challenges in our industry on both the financial and engineering side and brings a wealth of industry knowledge to Schneider Power. He has a successful track record in the financial and energy sector and we are delighted to have access to his expertise."

The Board has also accepted the resignation of Mr. Tim Gallagher and would like to thank him for his work on behalf of the company. Mr Gallagher will continue to have a relationship with Schneider Power Inc., as he has been retained to assist with corporate finance and development activities.

Current members of Schneider Power's Board of Directors include: Richard Boxer, Ralf Krueger, Lewis Reford, Bernd Schneider, Thomas Schneider and Jonathan Lundy.

About Schneider Power

Schneider Power Inc. is one of Canada's premier renewable energy companies, with a large portfolio of clean electricity generation development projects and advanced exploration projects located across two continents, and large land positions on the most promising and prospective wind and solar power areas in North America.

Schneider Power is listed on the TSX Venture Exchange under the symbol SNE.

Certain statements included in this news release constitute "forward-looking information" within the meaning of applicable securities legislation. Such forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Schneider Power to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.