CALGARY, ALBERTA--(Marketwire - Feb. 16, 2012) - Mustus Energy Ltd. today announced that it will be working with Lockheed Martin (NYSE:LMT) to build a new 41.5 megawatt biomass-fueled power generation plant in La Crete, Alberta, Canada. The project, which will be developed by Mustus Energy with Lockheed Martin's support in procuring materials, equipment and other required services, will provide enough energy when complete to power over 30,000 Canadian homes.
Lockheed Martin also will manage the construction of the plant, which is planned to commence this spring. The biomass facility is expected to begin commercial operations by the fall of 2013, and will provide base-load electrical power to the Alberta grid. As feedstock, Mustus Energy plans to use the tops of aspen trees that would otherwise be discarded as waste after the trunks are processed into lumber and other products at local mills.
"Adding Lockheed Martin to our team will help ensure the success of this and future similar projects. We are impressed with the level of support and expertise that Lockheed Martin brings to the Mustus team," said Ross Maxwell, chief executive officer, Mustus Energy Ltd.
"The La Crete biomass facility will provide Alberta with a domestic, secure power source, while preserving the environment. Working with Mustus, we will leverage our expertise in project management and complex systems to ensure the successful development of this facility," said Tom Digan, president and general manager of Lockheed Martin Canada.
Canada is a leader in developing and implementing biomass technologies. Six percent of Canada's power comes from biomass, making it the second largest source of the country's renewable energy generation.
About Mustus Energy:
Mustus Energy Ltd. is a clean-energy company that captures the economic benefit of combining an abundant supply of aspen from the boreal forest with the capacity-constrained Alberta electricity market. With this vision, Mustus Energy seeks to bolster local economies and provide a sustainable job base for surrounding communities. More information on Mustus Energy can be found at: www.mustusenergy.ca.
About Lockheed Martin:
Headquartered in Bethesda, Md., Lockheed Martin is a global security company that employs about 123,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation's net sales for 2011 were $46.5 billion.