How does the spell “Extract water elemental” interact with the energy substitution class feature of elemental savant?

Basically as the title states.

The elemental savant energy substitution states that any damaging spell of a certain type is converted to a chosen type (in my instance, fire).

Will this spell instead extract a fire elemental somehow if the creature is slain? Or will the substitution not take place since the damage of the spell deals is untyped?

Spell in question: “Extract water elemental” Spell compendium Page 86

Prestige Class Elemental Savant -> 3.5 Complete Arcane page 32-34 Class feature in question: Elemental specialty

What is the correct interaction between the spell and the mentioned class ability?