13.12.2005: Meldung: Beacon Power Corporation
"This was a great opportunity to share the story of Beacon"s flywheel technology, and the promise it holds for making California"s power grid more reliable," said Bill Capp, Beacon Power president and CEO. "We are pleased to see the enthusiasm of visitors to the facility, who can walk inside this scale-power Smart Energy Matrix and see for themselves that this integrated group of flywheels can switch easily and repeatedly from full power charge to full power discharge in a few seconds. They come away with a good understanding of the technology and its performance."
Ken Wiseman, Chairman of the Board of Governors of the California ISO, was one of the speakers. He pointed out that 200,000 new homes are built in California each year. "These homeowners want dependable power, and they expect us to provide it," said Wiseman. "The ISO is very interested in new and better ways to manage the grid, especially with the expected addition of significant new wind generation in the next few years."
One benefit to having the full-power Smart Energy Matrix, which Beacon is looking to build in 2007, available for frequency regulation is that it may free up other conventional generation assets from being used for this purpose. This would enable the state"s grid operator (the ISO) to reallocate valuable power plants to deliver power that will help avoid shortages. In addition, California"s commitment to wider statewide deployment of renewable energy sources, such as wind and solar, will necessitate even more regulation services because of their inherently variable output.
Dr. Imre Gyuk, head of energy storage programs at the U.S. Department of Energy, praised the collaboration that produced this first-of-its-kind system. "The successful development and delivery of this high-performance flywheel energy storage system is the realization of a vision the Department of Energy shares with the California Energy Commission and the ISO," he stated. "We wanted to prove that flywheel technology has the capability to provide the essential service of frequency regulation. I am most pleased with the results, and I look forward to being able to test the larger, higher-power flywheel that Beacon has begun working on. I also expect that the Department of Energy will be able to continue to support the development of the larger flywheel and its deployment in a commercial-sized Smart Energy Matrix."
The demonstration used a pre-recorded remote signal feed to drive the Beacon system and graphically display a wide range of performance characteristics in a short period of time. The California ISO has been working to establish a secure data feed to transmit signals from its Energy Management System in Folsom, California (where the grid is operated), to the Smart Energy Matrix. Response to live ISO signal transmission, as well as formal acceptance by the Energy Commission, are expected to take place in late January, assuming completion of the communications link and final system-level testing.
Beacon Power is also building a scale-power Smart Energy Matrix demonstration system for the New York State Energy Research and Development Authority (NYSERDA). A recent contract change calls for Beacon to incorporate additional functionality in the system to supply uninterruptible power to the location in Amsterdam, New York. In addition, at the request of the customer the demonstration unit will be modified to be able to provide volt-amperes reactive power, or VARs, which help stabilize the power supply to electrical equipment. In order to allow for these changes, the demonstration system is now planned for installation in February 2006. There was no change in the contract value.
About Frequency Regulation
One of the most challenging aspects of today"s electricity grid is that the amount of power generated and the amount consumed must be in exact balance at all times. When imbalances occur, the frequency of electricity (60 hertz in the U.S.) that end users require will not be maintained, which adversely affects grid stability. The constant balancing of power demand and production to maintain a stable frequency is called frequency regulation. Beacon"s Smart Energy Matrix, now being demonstrated in a scale-power configuration, is a flywheel-based energy storage system that is intended to be a long-life, environmentally friendly solution for frequency regulation, with no fuel consumed and no emissions generated. More details, along with an informative animated presentation, are available at www.beaconpower.com.
About Beacon Power
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. For more information, visit www.beaconpower.com.
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; little experience managing operations in geographically dispersed locations; 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 or in which it operates, 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 volatility in the stock price of companies operating in the same sector; the difficulties that often arise in integrating operations of companies after a merger or acquisition; 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.
SOURCE: Beacon Power Corporation
Beacon Power Corporation
James Spiezio, 978-694-9121
Gene Hunt, 978-694-9121