TORONTO, ONTARIO--(Marketwire - March 2, 2009) - Schneider Power Inc. (TSX VENTURE:SNE) announced today that it has signed a Letter of Intent with Triton Telecom Inc. ("Triton"), a subsidiary of Cobian International Group, Inc. of Orlando, Florida, to pursue an alternative renewable energy solution to power an undersea cable system between Miami and Puerto Rico.
The Letter of Intent outlines a proposed transaction where Schneider Power and Triton will collaborate to power "Seahorse-1", a 4,850 km ring comprised of 4 Fibre pairs between Miami, Florida; Cacique, Dominican Republic; and Isla Verde, Puerto Rico using renewable energy. The system will be the first renewable energy powered underwater fibre optic communications network in the world and will use traditional power plants only as a backup.
The Seahorse-1 project's first priority is the environment. In addition to being powered by renewable energy, the cable will employ earth saving techniques and materials to allow for an invasion-free impact on nature and the oceans. The goal of the project is to showcase new ways to provide cost-effective, innovative technology that will serve the public interest whilst having minimal environmental impact.
"This is an industry first and we are proud to be able to support Triton in bringing their goal of an environmentally friendly system to fruition." Said Thomas Schneider, Vice-Chairman and President of Schneider Power Inc.
Kameel Wakim, Chief Technology Officer for Cobian International Group, said "Renewable energy is a proven technology that we need to apply to all telecom solutions offered around the world. We were given this challenge by our CEO in 2005 and today Seahorse-1 reflects our commitment to innovation and the environment. Schneider Power is a future thinking company that can help us to achieve this goal."
About Schneider Power
Schneider Power Inc. (TSX VENTURE:SNE) 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. Visit us on the web at www.schneiderpower.com.
Schneider Power is listed on the TSX Venture Exchange under the symbol SNE.
About Triton Telecom Inc.
Triton Telecom is a leading provider of undersea cable ventures, and a subsidiary of Cobian International Group. Cobian and its companies take pride in innovative network design, solid vendor partnerships, and exemplary customer services and support. In addition to Triton Telecom, subsidiaries of Cobian International Group include Cobian Engineering & Technical Consultants, Inc., a sales, service and support company, and Chameleon, which serves as Cobian's hardware division. The family of Cobian companies provides whole product "turn-key" communication solutions utilizing future-proof technologies. Cobian subsidiaries also use renewable energy options in order to create a healthier planet for all, while building a totally accessible world. Cobian was founded in 2005, concentrating efforts in the Caribbean while expanding globally. Today, Cobian has relationships with some of the largest service providers in the Caribbean. For more information, please visit www.cobiangroup.com
Forward Looking Information
This news release contains forward looking information. Actual future results may differ materially. Additional financial and operational information is filed electronically with various securities commissions in Canada through the System for Electronic Document Analysis and Retrieval (SEDAR).
For more information, please contact
Schneider Power Inc.
Chief Executive Officer
(416) 847-3724 x234