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Maxon To Develop The Southeast's Largest Central Cooling System At Atlantic Station

July 1, 2003

Atlanta, Georgia

In a significant deal recently signed, Maxon, a District Energy and Green Power developer, and Atlantic Station have partnered to develop the Southeast's largest, most environmentally-friendly central cooling system. Maxon, The Southern Company, and Atlantic Station have been developing the infrastructure plan for the development for over two years. Maxon is a strategic partner of The Southern Company focusing on the development of large mechanical infrastructure projects. Maxon and the Southern Company are taking this model and jointly pursuing District Energy projects around the United States.

The fully built-out plant, jointly engineered by Maxon and Atlantic Station, L.L.C., will save building owners more than $35 million in construction costs, while operating more than 25 percent more efficiently than traditional building HVAC systems. This will result in lower energy bills for tenants.

By partnering early in the project's development, the two teams have developed the best engineering and financial solution for the development and its occupants. “In traditional construction, the chiller (which provides chilled water for air conditioning systems) is typically the largest energy load in any given building. Each building and even individual segments of buildings, usually have separate cooling systems,” states Jim Jacoby, Atlantic Station Chairman.” By planning appropriately on the front end -- before construction even begins -- we will be able to develop an efficient infrastructure that provides environmental and economic benefits to those who live, work and play at Atlantic Station.”

Several miles of 24-inch pipes will deliver chilled water from a 50,000-square-foot central cooling plant to office, residential and retail buildings as they are built at the 140-acre development. The district cooling system, which is most commonly applied to large college campuses, will reduce building maintenance and save the enormous square footage required for more conventional building cooling. The absence of cooling units at each building will even provide aesthetic benefits, eliminating the need for the typical (and architecturally challenging) roof- top cooling unit.

“A district energy network, such as the central cooling system Maxon will develop at Atlantic Station, requires a master developer, who is committed to constructing a site which actually impacts the environment in a positive way, and who is committed to the “Greening” of a downtown, urban location." states Marc O’Connor, President of Maxon. "This project will serve as a role model for other developments, and specifically “Brownfield” sites, looking to positively impact the environment in which patrons will live, work, and play."

“This is not the path of least resistance because so much planning is needed on the front end. But taking the longer view, the central cooling district will provide the most value to Atlantic Station's tenants and to the community at large,” states Jacoby. The Atlantic Station project is a 140-acre environmental redevelopment and reclamation of the former Atlantic Steel Mill at the nexus of interstates 75 and 85 in Midtown Atlanta. Scheduled to open in Fall of 2004, the development is ultimately projected to include 12 million square feet of retail, office, residential and hotel space as well as 11 acres of public parks.

Maxon develops, finances, constructs, and operates innovative District Energy and Green Power projects. Maxon has grown into a multifaceted company delivering unique and complex Energy projects to the industrial, commercial, institutional and governmental markets. Maxon will be responsible for building, owning, operating and maintaining the chiller plant and other infrastructure at Atlantic Station.