Beacon Power Corp. (fka BCONQ)

[JimsZ]

BCONQ & BCND are 2 separate companies and share nothing together. I also believe it's safe to say there is no way I'd invest in either of these things!!!!

Neither has moved from the Pink Sheets as of yet, either


BCONQ's assets were sold to Rockland Capital for guarantees of the Govt loan of $30million and shareholders lose. Most employees of Beacon would be hired by Rockland Capital

Beacon Power Assets to be Sold to Rockland Capital
Leading Energy Investment Firm to Acquire Stephentown Flywheel Plant and Other Assets; Intends to Continue Beacon Operations and Build Second 20 MW Plant
TYNGSBORO, Mass., Feb. 6, 2012 (GLOBE NEWSWIRE) -- Rockland Capital, a leading private equity firm focused on energy-related investments, will acquire Beacon Power Corporation's 20-megawatt flywheel energy storage plant in Stephentown, New York, and most of the other assets of the Company, based on its offer made February 3, 2012, in accordance with the process negotiated with the Loan Program Office of the U.S. Department of Energy (DOE). Rockland Capital was the successful acquirer among several leading energy and technology firms that vied for the opportunity following Beacon's Chapter 11 bankruptcy filing on October 30, 2011.

Under terms of the agreement and subject to court approval on February 7, 2012, Rockland will purchase substantially all assets of Beacon Power and its Stephentown subsidiary, for a combination of cash and a promissory note totaling $30.5 million, along with additional guarantees and funding obligations to DOE of $6.6 million. Rockland's purchase includes all assets of the Company's 20 MW flywheel regulation plant in Stephentown; all assets in Beacon's Tyngsboro headquarters including the intellectual property, inventory, spare parts, and equipment; assumption of an amended property lease in Tyngsboro to enable continuing operations; and many of the contracts associated with operation of the business.

The acquired assets and agreements will be placed into a new private company named Beacon Power LLC, wholly owned by Rockland, which will rehire a majority of the current Beacon staff into the new company. Rockland also intends to provide the necessary equity capital to develop a second 20 MW flywheel regulation plant in Pennsylvania. In addition to approval by the bankruptcy court, the Federal Energy Regulatory Commission must approve the sale of the Stephentown assets.

Scott Harlan, Managing Partner for Rockland Capital, said, "We were attracted to Beacon Power because of its effective fast-response, grid-connected energy storage technology and its successful experience applying this technology as a frequency regulation resource in Stephentown. With the implementation later this year of FERC-mandated pay-for-performance compensation for balancing services provided to the grid, both the Stephentown plant and the one we plan to build in Pennsylvania will realize much improved revenue. We're pleased to make it possible for this company and its talented team to continue to innovate and grow, and to provide a runway to facilitate a path to commercial success."

Bill Capp, Beacon President and CEO, commented, "Rockland Capital is a well-capitalized company that has an excellent track record of successfully identifying undervalued electric power generating assets and applying its knowledge of the business and the capital necessary to develop the full potential of those assets. They recognized early on that Beacon was one such opportunity and our relationship has been positive and productive throughout their evaluation process. We're grateful for their commitment to support Beacon and we look forward to working together and achieving our commercial objectives."

The sale of Beacon's Stephentown plant and other assets was organized and conducted by Beacon's financial advisors, CRG Partners, and legal counsel, Brown Rudnick LLP. For more information on the asset sale, refer to the case docket here: http://dm.epiq11.com/BPE/docket/Default.aspx?SearchCriteria=.

About Rockland Capital?

Rockland Capital, a private equity firm founded in 2003, is focused on the acquisition, optimization and development of companies and projects in the North American power sector. The firm manages Rockland Power Partners and Rockland Capital Energy Investments and has offices in Houston and New York. More information is available at www.rocklandcapital.com.

About Beacon Power Corporation

Beacon Power Corporation designs, develops and is commercializing advanced products and services to support stable, reliable and efficient electricity grid operation. Beacon's Smart Energy Matrix, now being operated and earning revenue, is a non-polluting, megawatt-scale, fast-response flywheel-based solution designed to provide less expensive, more sustainable and effective regulation services to power grids around the world. The Company's business strategy is both to supply regulation services from its own plants and to sell systems directly to utilities or grid operators in parts of North America and selected international markets. For more information, visit www.beaconpower.com.

Forward-Looking Information Disclaimer


BCND "PLANS" to become fully reporting as of 6/12/12, although it's easy to "PLAN" and not implement

Beacon Redevelopment Industrial Corp. Announces Plan to Become Fully Reporting
http://media.marketwire.com/attachments/201107/2477_logo_120.jpghttp://at.marketwire.com/accesstracking/AccessTrackingLogServlet?PrId=897964&ProfileId=051205&sourceType=1
NEW YORK, NY -- (Marketwire) -- 06/12/12 -- Beacon Redevelopment Industrial Corp. (PINKSHEETS: BCND) today announced that it retained a full time accountant to complete financial statements for the purposes of audit. Once completed, the Company intends to file the necessary documents to become fully reporting. In the interim, the Company will continue to work with the appropriate authorities to be recognized under a voluntary filing reporting standard or under an alternative reporting standard.

The Company expects to have the records audited within ninety days. "In order to be fully transparent, we must remove ourselves from the grip of the Pink Sheets and become fully reporting," said Frank Castellano, President of Beacon Redevelopment.

ABOUT BEACON REDEVELOPMENT:

Beacon Redevelopment Industrial Corp. is a publicly traded company with 322,000,000 authorized shares. Through its subsidiaries, the Company owns over 250 acres of development land in West Virginia, the Westmoreland Glass Factory in Grapeville, Pennsylvania, 1,000 acres of coal rights in Pennsylvania, and various natural gas rights and claims.

This press release does not constitute an offer of securities for sale and contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements involve risks and uncertainties that could cause actual results to differ. All statements in this press release are based on information available to the Company as of today, and the Company undertakes no obligation to update the statements in the future.

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CONTACT:

Public Relations
Beacon Redevelopment Industrial Corporation
541 Port Richmond Avenue
Staten Island, NY 10302
[phone]
Email Contact


Source: Marketwire (June 12, 2012 - 9:03 AM EDT)

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