3.11.2006: Meldung: Beacon Power meldet Fortschritte bei neuem Schwungmasse-Energiesystem
"This flywheel system is the cornerstone of our commercial Smart Energy Matrix, and we"re very pleased that our team was able to progress from specification to initial operation two months ahead of schedule," said Bill Capp, Beacon Power president and CEO. "This accomplishment gives us greater confidence in achieving our milestone of generating first revenues from frequency regulation services before the end of 2007."
Upon completion of Beacon"s testing of this Smart Energy 25 unit, the Company plans to start production of units to build multiple Smart Energy Matrix systems, so as to supply commercial-level frequency regulation services. The goal is to manufacture and install a sufficient number of Smart Energy 25 flywheels to provide at least one megawatt of revenue-generating frequency regulation service before the end of 2007. Beacon also plans to expand production to achieve its goal of 10 to 20 megawatts of revenue-generating service by the end of 2008.
With no fuel consumed and no emissions generated, Beacon"s flywheel systems are designed to be environmentally friendly solutions for grid frequency regulation. Moreover, Beacon expects that their anticipated lower cost of operation compared to existing fossil-fuel-based frequency regulation methods will result in attractive gross margins.
The Smart Energy 25 is designed to store 25 kilowatt-hours (kWh) of energy and to deliver 100 kilowatts of power. The system, manufactured under multiple Beacon patents, is expected to store significantly more energy than any other commercial flywheel in the world known to Beacon Power. Its sustainable, long-life design has been optimized to deliver performance that Beacon believes is ideally suited to the frequency regulation services market.
About Beacon Power
Beacon Power Corporation designs and develops 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 being demonstrated on a scale-power level in two states, is a prototype for 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; 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; significant technological challenges to successfully complete product development; 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 recent volatility in the stock price of companies operating in the same 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.
CONTACT: Beacon Power Corporation
James Spiezio, 978-694-9121
Gene Hunt, 978-694-9121
SOURCE: Beacon Power Corporation