Beacon Power Corporation designs, develops, and commercializes advanced products and services to support stable and reliable electricity grid operation in North America. The company’s Smart Energy Matrix, which is produced and operational with the Independent System Operator for New England as part of its Alternative Technologies Regulation Pilot Program, is a non-polluting, megawatt-level, utility-grade flywheel-based energy storage system that provides sustainable frequency regulation services. Defense applications The company has completed the design phase for a flywheel energy storage system for satellites capable of achieving maximum theoretical specific energy density. The program was jointly funded by the Air Force Research Lab (AFRL) and the Defense Advanced Research Projects Agency (DARPA). On February 3, 2009, the company entered into a contract with the U.S. Naval Sea Systems Command (NAVSEA) to evaluate the use of flywheel energy storage for multiple shipboard applications. Markets The company’s target markets include New England; California; New York; Mid-Atlantic; Midwest ISO; and Texas. Significant Events In July 2009, Beacon Power Corporation announced that it has completed the connection of a second megawatt (MW) of flywheel energy storage to the New England power grid. This new system doubles the energy storage capacity in operation at Beacon’s Tyngsboro, Massachusetts, headquarters. Competition The company identifies competition from A123.
Why this is a hot stock
- U.S. Department of Energy (DOE) has announced that it has awarded a stimulus grant to Beacon valued at $24 mln, for use in the construction of the Company’s second 20 MW flywheel energy storage plant, to be located in Chicago, Illinois. The grant results from one of Beacon’s two applications for DOE Smart Grid demonstration project funding. The Department made only one award, which was for Beacon’s 20 MW regulation plant. The grant award of $24 mln is for 50% of the project’s estimated cost. DOE will provide further details of the grant conditions in the near future.
- Beacon Power Corporation, a company that designs and develops advanced products and services to support more stable, reliable and efficient electricity grid operation, announced that it will begin construction on the nation’s first full-scale 20-megawatt flywheel frequency regulation plant during the week of November 23rd, at its site in Stephentown, New York.
65 Middlesex Road
Tyngsboro, MA 01879
Phone: 978-694-9121
Fax: 978-694-9127