WaterFurnace Renewable Energy, Inc. Announces Regular Dividend & Fourth Quarter Webcast

(U.S.$)

FORT WAYNE, IN, Jan. 22, 2013 /CNW/ - WaterFurnace Renewable Energy, Inc. [WFI:TSX] Timothy E. Shields, Chairman of the Board, announced that the board has approved the regular quarterly dividend of $0.24 U.S. per share. The dividend will be paid March 1, 2013, to shareholders of record at the market close of February 20, 2013.

The press release covering fourth quarter and year end results will be filed after the close of business on Wednesday, March 13, 2013. The annual report to shareholders will be available at that time at www.waterfurnace.com and filed on SEDAR at www.sedar.com. Management will conduct a webcast covering the results of the quarter and year at 11:00 AM Eastern Standard Time on Thursday, March 14, 2013. Interested parties can listen live or to the recorded version at http://www.newswire.ca/en/webcast/detail/1098641/1197065 or at the Company's website: www.waterfurnace.com.

Forward-Looking Information Cautionary Notice

Certain statements in this release constitute forward-looking statements within the meaning of applicable Canadian securities laws. Readers are cautioned not to place undue reliance on such statements. Investors should not rely solely on this information to make investment decisions. These statements are subject to certain assumptions, risks and uncertainties. In addition, WaterFurnace'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. WaterFurnace is subject to standard risks associated with most companies, such as normal competitive pressures. These and other risks could cause WaterFurnace's actual results, performance, achievements and developments to differ materially from the results, performance, achievements or developments expressed or implied by such forward-looking statements. Other risk factors can be found in WaterFurnace's Annual Information Form and other public documents filed by WaterFurnace with Canadian securities regulatory authorities. WaterFurnace assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.

More Information

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.

WaterFurnace designs, manufactures and distributes geothermal heat pumps. The geothermal units use the renewable solar energy stored just below the surface of the earth to dramatically reduce the energy consumed by buildings for heating, cooling and hot water.

SOURCE: WaterFurnace Renewable Energy, Inc.

For further information:

Additional information about the Company and its products is available on the Company's website:
www.waterfurnace.com. Or call [phone] and ask for investor relations.

WaterFurnace Renewable Energy, Inc.
9000 Conservation Way
Fort Wayne, Indiana 46809-9794
[phone]