Maxim Power Corp. enters into a Gas Turbine and Generator Reservation Agreement and provides Prairie Lights Power Project Update

Executive Summary

• Maxim Power Corp. entered a reservation agreement with GE Vernova for a 7HA.02 gas turbine and generator package, securing a manufacturing slot for delivery by 2030.
• The company will provide a non‑refundable deposit in 2026 (credited toward the final purchase price) and will negotiate a definitive sales agreement thereafter.
• Maxim disclosed approximately C$84 million of liquidity (C$59 million unrestricted) and expects to fund up to C$60 million of 2026 spending on its 400 MW Prairie Lights Power project using cash on hand and operating cash flow.

Key Details

• Agreement Scope: Reservation of a manufacturing slot for one 7HA.02 gas turbine‑generator package (the “Gas Turbine”).
• Deposit: Non‑refundable deposit payable in 2026; will be credited against the eventual purchase price under the definitive sales agreement.
• Delivery Target: Planned delivery of the Gas Turbine by 2030.
• Project Connection: Turbine intended for Maxim’s permitted 400 MW Prairie Lights Power project near Grande Prairie, Alberta.
• Regulatory Impact: An amendment to existing Project permits will be required; anticipated to be routine because the 7HA.02 model aligns with currently approved turbine specifications.
• 2026 Capital Spending: Up to C$60 million projected for Prairie Lights development activities in 2026.
• Liquidity Position: Approximately C$84 million total liquidity, including C$59 million of unrestricted cash as of the press release date.
• Funding Strategy: Maxim expects to fund 2026 project expenditures from existing cash balances and operating cash flow, without immediate external financing.
• Government Support: Noted encouragement from both Alberta and Canadian governments regarding reliable dispatchable electricity for economic growth.

Notable Quotes

(No direct quotes were provided in the release.)