CALGARY, Alberta, Feb. 09, 2026 (GLOBE NEWSWIRE) -- Maxim Power Corp. ("MAXIM" or the "Corporation") (TSX: MXG) announces that it has entered into a gas turbine and generator reservation agreement (the “Agreement”) with GE Vernova (NYSE: GEV). The Agreement allows MAXIM to hold a manufacturing slot for a 7HA.02 gas turbine and generator package (the “Gas Turbine”) with a target delivery by 2030. To hold this manufacturing slot, MAXIM is required to provide a non-refundable deposit which is payable in 2026. ...

Core Points - Maxim Power Corp. has settled a portion of its claim for compensation related to a non-injury fire incident that occurred on September 30, 2022, resulting in a net settlement amount of approximately $6.5 million [1][2] - The settlement amount represents the maximum net amount available from the insurance policy of the settling third party, with the proceeds expected to be received in the fourth quarter of 2025 [1] - The company continues to pursue claims against remaining third parties, with the total insurance coverage for these parties being equivalent to the amount received from the current settlement [2] Company Overview - Maxim Power Corp. is one of Canada's largest independent power producers, focusing on power projects in Alberta [3] - The company's core asset is the 300 MW H.R. Milner Plant, which is a combined cycle gas-fired power plant that commenced operations in Q4 2023 [3] - Maxim is exploring additional development options in Alberta, including a permitted gas-fired generation project and a wind power generation project [3]

Core Insights - Maxim Power Corp. reported its financial and operating results for Q3 2025, showing a revenue increase compared to Q3 2024, primarily due to higher realized power prices despite lower generation volumes [1][3] - The company experienced a decrease in adjusted EBITDA and net income for the first nine months of 2025 compared to the same period in 2024, attributed to lower realized power prices and lower generation volumes [4] Financial Highlights - Q3 2025 revenue was CAD 27,228,000, up from CAD 25,659,000 in Q3 2024, while revenue for the first nine months of 2025 was CAD 68,907,000, down from CAD 77,434,000 in 2024 [2] - Net income for Q3 2025 was CAD 10,620,000, slightly down from CAD 10,744,000 in Q3 2024, and for the first nine months, it decreased to CAD 14,272,000 from CAD 22,287,000 in 2024 [2][4] - Adjusted EBITDA for Q3 2025 was CAD 11,387,000, down from CAD 12,675,000 in Q3 2024, and for the first nine months, it decreased to CAD 22,806,000 from CAD 32,884,000 in 2024 [2][4] Operating Results - The increase in revenue for Q3 2025 was primarily due to higher realized power prices, which averaged CAD 59.94 per MWh compared to CAD 55.11 per MWh in Q3 2024, while total generation decreased to 454,253 MWh from 465,584 MWh [2][3] - For the first nine months of 2025, the average realized power price was CAD 53.68 per MWh, down from CAD 59.21 per MWh in 2024, contributing to the overall revenue decline [2][4] Non-GAAP Financial Measures - Adjusted EBITDA is used by management to evaluate the company's operating cash flows before finance expenses, income taxes, depreciation, and amortization, providing insights into performance trends [5][6] - Free cash flow for Q3 2025 was CAD 6,609,000, down from CAD 15,062,000 in Q3 2024, indicating a decrease in cash available for growth initiatives and shareholder returns [10] Company Overview - Maxim Power Corp. is one of Canada's largest independent power producers, focusing on power projects in Alberta, with its core asset being the 300 MW H.R. Milner Plant [12]

Core Points - Maxim Power Corp. has received approval from the Toronto Stock Exchange to proceed with a normal course issuer bid (NCIB) to purchase up to 3,182,528 common shares, representing approximately 5% of its issued and outstanding shares as of September 2, 2025 [1][2][4] - The NCIB will commence on September 16, 2025, and may continue until September 15, 2026, or until completed or terminated by the company [2] - An automatic share purchase plan (ASPP) will be implemented to facilitate share purchases during internal trading black-out periods [3] - The management believes that the market price of the shares may not fully reflect their underlying value, making share repurchases beneficial for shareholders [4] - The current NCIB follows a previous one that allowed the purchase of up to 2,529,885 shares, under which 117,272 shares were bought at a weighted average price of $4.47 per share [5] - Maxim Power Corp. is focused on power projects in Alberta, with its core asset being the 300 MW H.R. Milner Plant, and is exploring additional development options including gas-fired and wind power generation projects [6]

Core Viewpoint - Maxim Power Corp. reported its financial and operating results for Q2 2025, highlighting a mixed performance with increased revenues and Adjusted EBITDA but decreased net income due to unrealized losses on commodity swaps [1][3]. Financial Highlights - Revenue for Q2 2025 was CAD 21,416,000, up from CAD 17,007,000 in Q2 2024, while revenue for the first six months of 2025 was CAD 41,679,000, down from CAD 51,775,000 in the same period of 2024 [2]. - Net income for Q2 2025 was CAD 386,000, a decrease from CAD 1,056,000 in Q2 2024, and for the first six months of 2025, it was CAD 3,652,000, down from CAD 11,543,000 in 2024 [2]. - Adjusted EBITDA for Q2 2025 was CAD 6,183,000, compared to CAD 4,287,000 in Q2 2024, while for the first six months, it was CAD 11,419,000, down from CAD 20,209,000 in 2024 [2][3]. - Total generation in Q2 2025 was 416,488 MWh, an increase from 365,666 MWh in Q2 2024, but total generation for the first six months decreased to 829,519 MWh from 842,197 MWh in 2024 [2][4]. Operating Results - The increase in revenues and Adjusted EBITDA in Q2 2025 was primarily due to higher generation volumes and realized power prices [3]. - The decrease in net income was attributed to unrealized losses on commodity swaps, despite the positive impact of higher revenues and Adjusted EBITDA [3]. - For the first six months of 2025, the decline in revenues, Adjusted EBITDA, and net income was mainly due to lower realized power prices and generation volumes [4]. Non-GAAP Financial Measures - Adjusted EBITDA is used to evaluate the corporation's operating cash flows before finance expenses, income taxes, depreciation, and amortization [5][6]. - Free cash flow (FCF) for Q2 2025 was CAD 5,163,000, significantly higher than CAD 1,699,000 in Q2 2024, while for the first six months, it was CAD 8,458,000, down from CAD 14,717,000 in 2024 [10]. Company Overview - Maxim Power Corp. is one of Canada's largest independent power producers, focusing on power projects in Alberta, with its core asset being the 300 MW H.R. Milner Plant [12].

Group 1 - Maxim Power Corp. announced the results of its 2025 annual general and special meeting of shareholders, where directors were elected to hold office until the next annual meeting [1] - The elected directors received high approval rates, with Michael Mayder receiving 99.98% of votes in favor, while the lowest was M. Bruce Chernoff with 99.31% [1] - The meeting also approved unallocated stock options under the Corporation's Stock Option Plan until June 3, 2028, with 98.64% of votes in favor [1] Group 2 - Maxim Power Corp. is one of Canada's largest independent power producers, focusing on power projects in Alberta [2] - The core asset of the company is the 300 MW H.R. Milner Plant, a combined cycle gas-fired power plant that began operations in Q4 2023 [2] - The company is exploring additional development options, including a permitted gas-fired generation project and a wind power generation project [2]

Core Viewpoint - Maxim Power Corp. has successfully completed the sale of its wholly-owned subsidiaries Summit Coal Limited Partnership and Summit Coal Inc. to Valory Resources Inc. for a total of $14.2 million, which includes $10.2 million in cash and $4.0 million in equity securities [1][2] Group 1: Sale Details - The sale price consists of $10.2 million in cash and a $4.0 million Convertible Note, which is a 15% interest-bearing note convertible into Valory common shares at a 30% discount during a convertible event [1][2] - The sale included $2.2 million of restricted cash, resulting in net cash proceeds to Maxim of $8.0 million [2] Group 2: Royalty Agreement - Maxim will receive a 3% royalty on any raw coal produced from the coal leases owned by Summit, including volumes from Summit's Mine 14 project, calculated using a Premium Low Vol Hard Coking Coal benchmark [3] - The timing and amount of royalty payments depend on the commencement of production, which is uncertain [3] Group 3: Ground Lease Agreement - Maxim, through its subsidiary Milner Power Inc., has entered into a twelve-year ground lease with a nominee of Valory for the construction and operation of a coal processing facility [4] - The lease includes a fixed annual payment of $2.1 million and a variable throughput payment, which could be substantial if coal is processed, but there is no certainty regarding the construction timeline [4] - The first-year pro-rated fixed payment of approximately $1.4 million was received on the lease commencement date [4] Group 4: Company Overview - Maxim Power Corp. is based in Calgary, Alberta, and is one of Canada's largest independent power producers, focusing on power projects in Alberta [5] - The company's core asset is the 300 MW H.R. Milner Plant, which is a state-of-the-art combined cycle gas-fired power plant that began operations in Q4 2023 [5] - Maxim is exploring additional development options in Alberta, including gas-fired generation and wind power projects [5]