Beacon Power to Celebrate Completion of World's First 20 MW Flywheel Plant
Stephentown Facility Now Operating at 18 MW as it Nears Final Capacity
TYNGSBORO, Mass., Jun 1, 2011 (GlobeNewswire via COMTEX) --
Beacon Power Corporation (Nasdaq:BCON), a leading provider of advanced products and services to support a more stable, reliable and efficient electricity grid, announced that on July 12, 2011, the Company will host a ceremony to mark the completion and full operation of its first 20-megawatt flywheel energy storage plant in Stephentown, New York. The facility, which provides grid-stabilizing commercial frequency regulation services to the New York State electricity grid, is currently operating at 18 MW and is expected to reach its full 20 MW capacity later this month.
Bill Capp, Beacon Power president and CEO, said: "The completion and energization of our first full-scale commercial flywheel plant is a true milestone and cause for celebration. Our event will recognize the individuals and organizations that were instrumental in supporting this achievement, as well as give guests a chance to see the operation in person. When compared to other methods, our Stephentown flywheel plant offers the cleanest and most cost-effective solution for frequency regulation ever deployed on a power grid."
Capp continued: "The startup of our first plant has been closely followed by utilities, grid operators, regulators, wind developers, and other stakeholders around the world. Its successful completion and full-scale operation supports our two-part business model: owning and operating merchant plants that provide regulation services in open-bid markets -- and that become references for the sale of flywheel plants on a turnkey basis to vertically integrated utilities. This facility is just the beginning."