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Beacon Power Announces Successful Outcome of Flywheel Frequency Regulation Testing in New York
New York Independent System Operator (ISO) Says Beacon's Flywheel Technology is Viable for Use in the State's Power Grid
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Last Update: 1:57 PM ET Mar 22, 2007



WILMINGTON, Mass., Mar 22, 2007 (BUSINESS WIRE) -- Beacon Power Corporation (BCON : beacon power corp com
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8:45am 03/23/2007

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BCON0.94, +0.11, +13.3%) , a company that designs and develops advanced products and services to support more stable, reliable and efficient electricity grid operation, today announced that the New York State Energy Research and Development Authority (NYSERDA) and the U.S. Department of Energy (DOE) have confirmed the successful outcome of field trial testing of Beacon's scale-power flywheel frequency regulation system in New York. In addition, the New York ISO, which operates the power grid, determined that Beacon's technology is viable for connection to the grid.
These milestones follow the January announcement that Beacon's first flywheel frequency regulation demonstration system had received certification from the California ISO after successfully completing its field trial in that state.
"After evaluating the test results and discussing Beacon's performance with representatives of the California ISO, we find the Beacon flywheel technology to be acceptable and viable for use in the New York ISO grid," said Michael Calimano, vice president of operations, New York ISO. "We are currently determining how the service would be integrated into our tariff structure, and we look forward to working with Beacon Power to implement this important new technology."
"NYSERDA is pleased with the successful outcome of Beacon's frequency regulation field trial that was performed in New York, in cooperation with our partners at the U.S. Department of Energy," said Peter R. Smith, president and CEO of NYSERDA. "We look forward to continuing our role in facilitating the commercial deployment of this innovative technology within New York's electricity grid."
Beacon's New York-based flywheel system field trial reached this milestone after the U.S. DOE (through Sandia National Laboratories, which co-monitored the demonstration with NYSERDA) concluded that the unit's performance had been successfully demonstrated and that additional testing was not required. The flywheel system will remain in place in Amsterdam, New York, to respond to any additional control methodology demonstration that may be requested by the New York ISO.
"This is another significant achievement for Beacon Power and a major step towards our goal of becoming the nation's first independent provider of frequency regulation services using our flywheel technology," said Bill Capp. "With both Smart Energy Matrix system field trials successfully concluded we can now focus on commercial implementation of this technology in our targeted grid operating regions."
Beacon's New York-based flywheel demonstration system was installed in March 2006 and began its formal field trial in June. The goal was to determine its ability to provide fast-response frequency regulation, as well as another ancillary service called reactive power. In comparison to California, where Beacon's system was controlled by a signal sent every four seconds by the grid operator, the New York system consistently responded to frequency variations it sensed through its direct grid connection. In addition, in cooperation with the New York ISO and a major international utility, the system also successfully demonstrated its ability to provide reactive power, a secondary service that the grid requires to maintain stability.
Beacon is now evaluating potential operation in California, New York, New England and the Mid-Atlantic regions for its commercial-sized frequency regulation plants, the first of which Beacon plans to build in 2008.
About NYSERDA
The New York State Energy Research and Development Authority (NYSERDA) was established by law in l975 as a public benefits corporation. NYSERDA provides energy-related technical and financial packaging assistance to businesses and institutions to promote energy efficiency and economic development, as well as providing energy research and development programs that promote safe and economical energy production efficiency technologies in New York State. NYSERDA also analyzes the effect of New York's energy, regulatory and environmental policies on the State's business, institutional, and residential energy consumers.
About the New York ISO
The New York Independent System Operator (NYISO) is a federally regulated, 501(c) 3 nonprofit corporation established in 1999 to facilitate the restructuring of New York's electric industry. The NYISO operates the state's high-voltage electric transmission system and administers the state's wholesale energy markets. The NYISO's market volume was $8.6 billion in 2006. For more information, visit www.nyiso.com.
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, including design modifications that may be needed following a recent malfunction that occurred 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; 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.
SOURCE: Beacon Power Corporation
Beacon Power Corporation James Spiezio, 978-694-9121 [e-mail] or Gene Hunt, 978-694-9121 [e-mail] Copyright Business Wire 2007 ********************************************************************** As of Sunday, 03-18-2007 23:59, the latest Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated an UPTREND on 08-02-2006 for BCON @ $1.53. For more information on Comtex SmarTrend® Alert, contact your market data provider or go to www.CSTADirect.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright © 2004-2007 Comtex News Network, Inc. All rights reserved.