SOURCE: Maine & Maritimes Corporation

December 22, 2006 13:59 ET

Maricor Technologies and Evolve Energy Partner to Deliver Energy and Emissions Savings

PORTLAND, ME -- (MARKET WIRE) -- December 22, 2006 -- Maricor Technologies, Inc. (MTI), a subsidiary of Maine & Maritimes Corporation (AMEX: MAM), today announced that London based Evolve Energy Ltd (Evolve) has selected MTI to provide business consulting and technology services for Evolve's business throughout the United Kingdom (UK). In line with its strategic plan, this partnership marks MTI's continued growth into the global marketplace by expanding its service offerings and technology into the UK market.

Evolve delivers integrated energy management solutions to commercial companies to reduce their energy usage, costs and emissions. It works with retailers, hospitality, health, education and public sector organizations. Evolve offers a proven, accountable method of approaching energy and infrastructure challenges within businesses that yield maximum value and results. It is an independent strategic energy partner for its clients and identifies where savings can be achieved throughout the energy value chain. Evolve leverages proven technology and true innovation, to manage and deliver the changes needed to realize these savings. Evolve continues to assess, implement and monitor performance to sustain the best results for savings and energy reductions for its clients.

In conjunction with its business consulting services, MTI is implementing its iPlan™ Sustainable Facility Governance technology platform and its Energy Governance solution to support Evolve's business methodologies. The implementation for this project will provide a streamlined business development process, improved energy capital planning capabilities, business process and technology optimization, and enhanced energy performance management, analysis and reporting tools.

"Our customers are facing material business challenges as a direct result of the 400% increase in their energy costs over the last two years. Evolve is delivering leading energy management solutions and technologies that produce the maximum possible sustainable savings for our valued clients. The savings that are realized through improved business processes and enhanced strategic decision making, as a result of our energy performance management tools, are passed through as a direct benefit to our customers," stated Tim Schneider, Executive Director of Evolve Energy. "MTI's solutions also provide Evolve the opportunity to scale its facility and energy related services offerings to help maximize the return on investments made by our clients."

As energy markets continue to prove volatile and unpredictable, Evolve and MTI recognize the critical role that effective Energy Governance plays in maintaining fiscally and environmentally responsible operations for their clients. The urgent need to identify the most optimum energy-saving systems and retrofits for facility assets is a critical issue facing organizations throughout the United Kingdom. The partnership between Evolve and MTI will further assist organizations in addressing these significant challenges by simplifying and streamlining the energy investment decision-making process.

"With historically high energy prices and the need to address climate change through emissions reduction, we are at a point when we must make responsible energy-related investment decisions. These decisions have a dramatic impact on facilities' near-term performance, but also have long-term impacts on the sustainability of our world," according to Jim Kavanagh, Chief Marketing Officer of MTI. "We are very pleased to partner with Evolve Energy on this important initiative and to help their clients meet the challenges of the demanding marketplace."

MAM:G

Maricor Technologies, Inc. develops information and software products for sustainable governance of facilities and buildings. By combining leading strategic management methods with proven engineering and economic models, MTI's products deliver the information organizations need to manage facility asset portfolios; optimize capital, maintenance, and energy budgets; reduce emissions; improve security; and ensure comprehensive and transparent reporting on facility asset performance to all stakeholders. Through its solutions, MTI optimizes energy and asset investments according to sustainable principles. For more information about Maricor Technologies, Inc., please visit its website at www.maricortech.com.

Maine & Maritimes Corporation is the parent of a group of companies providing regulated electricity transmission and distribution services in the State of Maine, and providing engineering, technology and other services to companies focused on efficient use of energy and sustainable development in new facility construction or existing facility redevelopment in the U.S. and Canada. Operating entities within the MAM group include: Maine Public Service Company, a regulated electricity transmission and distribution utility; The Maricor Group and its subsidiaries, The Maricor Group Canada, Ltd, and The Maricor Group New England, Inc., which provide engineering, energy efficiency, asset development and sustainable lifecycle asset management services; Maricor Technologies, Inc., a sustainable asset governance and facility performance management software firm; and Maricor Properties Ltd., a Canadian real estate development and investment company, 50% owned by Ashford Investments, Inc. MAM is headquartered in Presque Isle, Maine, and its subsidiaries maintain offices in Moncton and Saint John, New Brunswick, Canada; Halifax, Nova Scotia, Canada; Boston, Massachusetts, and Portland, Maine. MAM's corporate website is www.maineandmaritimes.com

Evolve Energy Ltd delivers integrated energy management solutions to commercial companies to reduce their energy usage, costs and emissions. It works with retailers, hotels and catering, health, education and public sector organizations to identify and implement integrated solutions that:

--  Reduce energy costs
--  Increase the value of assets
--  Optimize income statements, cash flow and balance sheets
--  Reduce environmental impact
--  Improve energy efficiency
--  Improve labor productivity
--  Maximize resource sustainability, and
--  Uphold social responsibility.
    
To learn more about Evolve Energy or its energy and services please visit www.evolveenergy.co.uk

Cautionary Statement Regarding Forward-Looking Information

Except for historical information, all other information provided in this news release consists of "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1935. Although Maine & Maritimes Corporation (MAM) believes that in making such statements its expectations are based on reasonable assumptions, any such statements involve uncertainties and risks that may cause actual results to differ materially from those projected, anticipated or implied. MAM cautions that there are certain factors that can cause actual results to differ materially from forward-looking information that has been provided, including, without limitation, potential changes in applicable laws and regulations, potential changes in management, its ability to raise necessary operating and growth capital, increased interest costs, its ability to execute its business plans in a timely and efficient manner, potential costs and difficulties related to integration of potential acquired businesses, the loss of customers and other factors that are more detailed in MAM's filings with the Securities and Exchange Commission. MAM undertakes no obligation to publicly update these forward-looking statements to reflect events or circumstances that may or may not occur after the date of this news release.

Contact Information

  • For More Information Contact:
    Jim Kavanagh
    Chief Marketing Officer
    Tel: 207-828-7900 x101
    Email: Email Contact