3.8.2007: Meldung: Beacon Power Announces of Milestones
The major remaining elements in the test program include performance and component failure testing over the entire speed range as well as qualification of key components from secondary suppliers. The Company has moved into the phase in which it will place orders for some long lead-time components, and work to optimize the manufacturing cost of the system. A multiple supplier strategy is planned to minimize costs and insure uninterrupted delivery of components.
"Our goal of having one megawatt of commercial frequency regulation service in place by the end of April 2008, and 10 to 20 megawatts before the end of 2008, is on track." said Bill Capp, Beacon president and CEO. "We also expect to announce the ISO grid-operating region of our first 10 to 20 MW plant by the end of September."
The Smart Energy 25 is designed to store 25 kilowatt-hours (kWh) of energy and to deliver 100 kilowatts of power. The system, designed and manufactured under multiple Beacon patents, is expected to store significantly more energy than any other known commercial flywheel. 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, 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; the dependence of sales on the achievement of product development and commercialization milestones, including design modifications that have been implemented following a malfunction that occurred at the end of 2006 while testing a prototype flywheel; 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
James Spiezio, 978-694-9121
Gene Hunt, 978-694-9121
Beacon Power Corporation