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Meldungen 07.02.2005

7.2.2005: Meldung: Beacon Power: Major Patents for Flywheel Technology

Beacon Power Corporation, a company that designs advanced products and services for more reliable electricity grid operation, today announced that it has recently been awarded a United States patent for the unique design and construction of its composite flywheel rim, and that a few days ago, it received a written notification that another U.S. patent on the rim is to be granted in early February 2005.

 

U.S. Patent Number 6,824,861 is for a "Composite Flywheel Rim With Co-mingled Fiber Layers and Methods for Manufacturing Same," and the U.S. patent to be granted in February 2005 is for a patent carrying the same name. The composite rim is a key component of a flywheel energy storage system, as a rim"s mass and ability to spin at high speeds have a direct relationship to the amount of energy that can be stored. Beacon Power, a pioneer in this technology, has been able to design and build flywheel systems that deliver the highest amount of stored energy for their size and weight, thanks in part to this critical proprietary knowledge. During 2004, Beacon Power also was granted four other U.S. patents pertaining to flywheel system hardware and electronics. These include patents for a method of heat dissipation, a higher efficiency motor, enhanced bearing tolerance under earthquake conditions, and an improved flywheel hub design. Multiple foreign patents are also pending.

 

Bill Capp, Beacon Power President and CEO, said, "These are among the most important of our patents, and reflect the uniqueness of our intellectual property, combined with considerable proprietary expertise. As we look to develop our full-scale Smart Energy Matrix for use in frequency regulation and electricity grid stability, this patented technology will give us both the performance we need, as well as a sustainable market advantage."

 

Beacon Power"s Smart Energy Matrix is a design concept for a flywheel-based energy storage system that would offer a long-life, environmentally friendly solution for frequency regulation services, with no fuel consumed and no emissions generated. The equipment can be located nearly anywhere, including at a substation or within the distribution system, where additional benefits such as voltage regulation, backup power, or reactive power can also be provided for even greater value.

 

"Grid operators, such as those in our initial target markets, purchase frequency regulation services every day that are equivalent to 1-2% of the amount of energy used daily," Capp continued. "In 2003, the value of regulation services purchased by just four U.S. regional grid operators in open power markets exceeded $400 million. These operators were responsible for roughly 20% of the domestic energy sold in that year. The Beacon Smart Energy Matrix is specifically intended to address this sizeable and growing market with better performance and greater cost effectiveness than existing methods."

 

Beacon Power"s growing patent portfolio helps solidify the company"s unique position in energy storage applications in the electric utility, renewable energy, and distributed generation markets.

 

About Beacon Power Corporation

 

Beacon Power Corporation designs sustainable energy storage and power conversion solutions that would provide reliable electric power for the utility, renewable energy, and distributed generation markets. Beacon"s Smart Energy Matrix is a design concept for a megawatt-level, utility-grade flywheel-based energy storage solution that would provide sustainable power quality services for frequency regulation, and support the demand for reliable, distributed electrical power. Beacon is a publicly traded company with its research, development and manufacturing facility in the U.S.

 

Safe Harbor Statements under the Private Securities Litigation Reform Act of 1995:

 

Material contained in this press release may include statements that are not historical facts and are considered "forward-looking" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect Beacon Power Corporation"s current views about future events and financial performances. These forward-looking statements are identified by the use of terms and phrases such as "believe," "expect," "plan," "anticipate," and similar expressions identifying forward-looking statements. Investors should not rely on forward-looking statements because they are subject to a variety of risks, uncertainties, and other factors that could cause actual results to differ materially from Beacon Power Corporation"s expectation. These factors include: a short operating history; a history of losses and anticipated continued losses from operations; a need to raise additional capital combined with a questionable ability to do so; conditions in target markets; no experience manufacturing any product on a commercial basis; limited commercial contracts for sales to date; the dependence of sales on the achievement of product development and commercialization milestones; the uncertainty of the political and economic climate of any foreign countries into which Beacon hopes to sell, including the uncertainty of enforcing contracts and the potential substantial fluctuation in currency exchange rates in those countries; significant technological challenges to successfully complete product development; dependence on third-party suppliers; intense competition from companies with greater financial resources; possible government regulation that would impede the ability to market products; possible product liability claims and the negative publicity which could result; any failure to protect intellectual property; the possible need in the future to hire and retain key executives, particularly in light of the substantial workforce reductions during 2001 and 2002; the recent volatility in the stock price of companies operating in the same sector; the power of controlling shareholders and the limited ability of others to influence the outcome of matters put to the vote of shareholders. These factors are elaborated upon and other factors may be disclosed from time to time in Beacon Power Corporation"s filings with the Securities and Exchange Commission. Beacon Power Corporation expressly does not undertake any duty to update forward-looking statements.

 

Contact:

Beacon Power Corporation

James Spiezio, 978-694-9121

spiezio@beaconpower.com

 

Source: Beacon Power Corporation

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