13.9.2007: Meldung: Beacon Power Completes Testing
The critical tests that the flywheel passed included "lift-circuit failure testing." This involved powering the Smart Energy 25 system up to different speeds, including its top speed of 16,000 rpm, and disabling power to the magnetic system that lifts the spinning flywheel within its vacuum-sealed container. The hardware components that Beacon redesigned following a test malfunction in December 2006 were successful in bringing the flywheel to a full and safe stop. Other tests confirmed projected performance of the flywheel, including high efficiency operation and availability of its rated 25 kilowatt-hours of stored energy.
"This is a tremendous accomplishment by our engineering team, representing thousands of hours of design, development and testing," said Bill Capp, Beacon president and CEO. "With this important safety milestone successfully completed and our redesign thus validated, we are moving ahead to build our first commercial units. We expect these initial Smart Energy 25 systems to be running in our new manufacturing plant in Tyngsboro, Massachusetts, by the end of January 2008, before being grid-connected at our first commercial frequency regulation facility in April 2008."
Last month the Company announced that the Smart Energy 25 had achieved the performance benchmarks of full speed (16,000 rpm) and full power (100 kilowatts charging and discharging), and that it had begun ordering some long lead-time components. The Company is also qualifying multiple suppliers for key system components and continues to work to optimize the manufacturing cost of the system.
In related news, Beacon has finalized and is implementing plans to move its Massachusetts-based headquarters facility from Wilmington to a larger space in Tyngsboro. The Company has signed a 60-day extension of its current lease through November 2007, to allow a smoother transition from one location to the other. "We intend to make this move during the first half of November, without any significant interruption to flywheel development or manufacturing schedules," added Capp.
About Beacon Power
Beacon Power Corporation designs, develops and is taking steps to commercialize advanced products and services to support stable, reliable and efficient electricity grid operation. The Company"s primary business strategy is to commercialize its patented flywheel energy storage technology to perform frequency regulation services on the grid. Beacon"s Smart Energy Matrix, now in development following approval for use in three of the country"s five open-bid regulation markets, is being designed to be a non-polluting, megawatt-level, utility-grade flywheel-based solution that would provide sustainable frequency regulation services. 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 or supplying frequency regulation services on a commercial basis; limited commercial contracts for sales to date; our ability to obtain site interconnection or other construction approvals in a timely manner; the dependence of sales on the achievement of product development and commercialization milestones; the uncertainty of the political and economic climate, and the different electrical grid characteristics and requirements of any foreign countries into which Beacon hopes to sell or operate, including the uncertainty of enforcing contracts, the different market structures, and the potential substantial fluctuation in currency exchange rates in those countries; dependence on third-party suppliers; intense competition from companies with greater financial resources, especially from companies that are already in the frequency regulation market; possible government regulation that would impede the ability to market products or services or affect market size; the complexity and other challenges of arranging project finance and resources for one or more frequency regulation power plants; possible product liability claims and the negative publicity which could result; any failure to protect intellectual property; retaining key executives and the possible need in the future to hire and retain key executives; the historical volatility of the Company"s stock price, as well as volatility of the stock price of other companies in the energy sector. 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.
Beacon Power Corporation
Beacon Power Corporation