Schneider Power Inc.

Schneider Power Inc.

March 19, 2010 17:13 ET

Schneider Power Announces Key Dates in Connection with Special Meeting to approve Transaction with Quantum Technologies and Issues Management Information Circular

Management Information Circular and other meeting materials mailed to shareholders

TORONTO, ONTARIO--(Marketwire - March 19, 2010) - Schneider Power Inc. (TSX VENTURE:SNE) ("Schneider Power") today announced that it will hold a special meeting of its shareholders on April 13, 2010 to consider and vote on the stock-for-stock exchange transaction with Quantum Fuel Systems Technologies Worldwide Inc. ("Quantum") that it announced on November 25, 2009.

The board of directors of Schneider Power have fixed March 11, 2010 as the record date for the determination of shareholders entitled to receive notice of and to vote at the special meeting. The closing date of the transaction is expected to occur on or about April 16, 2010, provided that the transaction is approved by shareholders at the special meeting and all other conditions of the transaction, including court approval, are satisfied or waived.

Further details regarding the transaction, including procedures for voting and surrendering share certificates representing common shares of Schneider Power, are contained in a management information circular of Schneider Power dated March 15, 2010 and related materials which Schneider Power mailed to its shareholders yesterday. Copies of the management information circular and the related materials will be filed today with the applicable Canadian provincial securities regulatory authorities and will be available under Schneider Power's profile on SEDAR at In addition, Schneider Power has filed under its profile on SEDAR Quantum's Annual Report on Form 10-K for the fiscal year ended April 30, 2009, Quantum's Quarterly Report on Form 10-Q for the fiscal quarter ended January 31, 2010 and Quantum's Proxy Statement dated March 3, 2010, each of which documents is incorporated by reference into Schneider Power's management information circular.

About Schneider Power:

Schneider Power Inc. is one of Canada's premier renewable energy companies, with a portfolio in excess of 1,000 MW 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 and the Caribbean. More information can be found at:

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. Assumptions upon which forward-looking information related to the transaction are based include, without limitation, that the shareholders of Schneider Power will approve the transaction and that all other conditions to the completion of the transaction will be satisfied or waived. Many of these assumptions are based on factors and events that are not within the control of Schneider Power and may not prove to be correct. Factors that could cause actual results, performance or achievements of Schneider Power to vary materially from those anticipated by such forward-looking information include, without limitation: the failure to realize the synergies and other perceived advantages resulting from the transaction; costs and potential litigation associated with the transaction; the inability to obtain, or meet conditions imposed for, applicable regulatory requirements relating to the transaction; the failure of either Schneider Power or Quantum to meet the closing conditions set forth in the arrangement agreement relating to the transaction; the ability of Schneider Power and Quantum to retain key personnel both before and after completion of the transaction; each of Schneider Power's and Quantum's ability to successfully execute its business strategies; competitive conditions in the industry; business cycles affecting the markets in which Schneider Power and Quantum conduct their business; and economic conditions generally. All forward looking information in this press release speaks as of the date of this press release. Schneider Power does not undertake to update any such forward‐looking information whether as a result of new information, future events or otherwise, unless required by applicable law. Additional information about these assumptions and risks and uncertainties is contained in Schneider Power's filings with securities regulators, including its latest MD&A. These filings are also available at Schneider Power's website at

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

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