Maxim Power Corp.
TSX : MXG

Maxim Power Corp.

December 11, 2008 12:19 ET

Maxim Power Corp. Enters Into Long-Term Thermal and Chilled Water Sales Agreement at CDECCA Cogeneration Facility

CALGARY, ALBERTA--(Marketwire - Dec. 11, 2008) - Maxim Power Corp. (TSX:MXG) ("MAXIM" or the "Corporation") announced today that it has entered into an agreement with the State of Connecticut Department of Public Works for the sale of steam and chilled water from MAXIM's Capitol District Energy Center Cogeneration Associates ("CDECCA") cogeneration facility. The contract replaces the existing contract for the sale of steam and chilled water to The Energy Networks Inc. The new contract has a term of 10 and 1/2 years and commenced October 1, 2008. MAXIM's guidance for 2009, as issued on November 12, 2008, reflects this agreement.

CDECCA Cogeneration Plant

The CDECCA Power Plant, a 62 Megawatt ("MW") natural-gas-fired combined-cycle cogeneration plant, is located in Hartford, Connecticut, USA. The CDECCA facility provides peaking energy to the New England power market and thermal and chilled water to a district heating and cooling network in the city of Hartford, Connecticut.

ABOUT MAXIM

Based in Calgary, Alberta, MAXIM is an Independent Power Producer, which acquires or develops, owns and operates innovative and environmentally responsible power projects. MAXIM currently owns and operates 35 power plants in western Canada, United States and France, having 757 MW of electric and 135 MW of thermal net generating capacity. MAXIM will continue to execute on its strategy as an independent power producer and is targeting significant growth through acquisitions and development of power projects which utilize hydrocarbon based fuels and renewables in the markets of Western Canada, United States and France. MAXIM trades on the TSX under the symbol "MXG". For more information about MAXIM, visit our website at www.maximpowercorp.com.

Statements in this release which describe MAXIM's intentions, expectations or predictions, or which relate to matters that are not historical facts are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties which may cause the actual results, performances or achievements of MAXIM to be materially different from any future results, performances or achievements expressed in or implied by such forward-looking statements. MAXIM may update or revise any forward-looking statements, whether as a result of new information, future events or changing market and business conditions and will update such forward looking statements as required pursuant to applicable securities laws.

Contact Information

  • Maxim Power Corp.
    John R. Bobenic
    President and CEO
    (403) 750-9300
    or
    Maxim Power Corp.
    Michael R. Mayder
    Vice President, Finance and CFO
    (403) 750-9311
    Website: www.maximpowercorp.com