WaterFurnace Announces Expansion of its OEM Sales Channel

FORT WAYNE, IN, March 19 /CNW/ - WaterFurnace Renewable Energy, Inc. (WFI:TSX) announces that it is expanding its OEM business strategy by entering into supply agreements with major HVAC companies to manufacture Geothermal HVAC units, customarily referred to as "private labeling." The details with respect to these agreements will not be disclosed for competitive reasons. The strategic nature of these agreements will provide the Company with opportunities that management believes will have a positive impact on revenues and profitability in the medium to long-term.

WaterFurnace Renewable Energy, Inc. is traded in both Canadian dollars and U.S. dollars on the Toronto Stock Exchange under the symbol WFI for Canadian dollars and WFI.U for U.S. dollars.

Risk and Uncertainties: This press release contains certain forward-looking statements that may or may not be realized. Investors should not rely solely on this information to make investment decisions. The Company's sales are related to the cost and stability of electricity, fuel oil, propane and natural gas. Federal, state and provincial building codes and energy incentives can also impact sales. The Company is subject to standard risks associated with most companies, such as normal competitive pressures.

SOURCE WaterFurnace Renewable Energy, Inc.

For further information: For further information: Additional information is available on the Company's web site: www.waterfurnace.com

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WaterFurnace Renewable Energy, Inc.

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