Beacon Power and NorthWestern Energy Highlight Innovative Flywheel Project in Montana
29 9월 2011 - 8:00PM
Beacon Power Corporation (Nasdaq:BCON), a leading provider of
fast-response energy storage systems and services to support a more
stable, reliable and efficient electricity grid, and NorthWestern
Energy, a major Montana-based utility, held a joint media
conference on September 28th to highlight the progress and
integration of Beacon's 1-megawatt (MW) flywheel energy storage
system into the Dave Gates Generation Station ("DGGS") at Mill
Creek near Anaconda, Montana.
Speakers at the event included Bob Rowe, NorthWestern Energy
president and CEO, Mike Cashell, vice president of transmission,
and Bill Capp, Beacon Power president and CEO. Following the
presentations and a Q&A period, attendees were given a tour of
the site, which also includes the Dave Gates Generating Station, a
natural gas-fired plant that provides regulation service for
NorthWestern's customers.
"This project is a great opportunity to determine how flywheel
technology can be effectively integrated into the operation of
DGGS," said Bill Capp. "Studies have shown that fast-responding
energy storage technology like flywheels can augment conventional
fossil fuel-based regulation resources and thereby improve their
performance. We look forward to demonstrating this project in
operation with the DGGS."
"NorthWestern Energy is pleased to work with Beacon Power to
gain additional understanding of and operational experience with
flywheel technology," said Bob Rowe, president and CEO of
NorthWestern Energy. "We are excited to learn more about this
technology and how it integrates with the operation of the Dave
Gates Generating Station."
"NorthWestern Energy deserves significant credit for their
vision and leadership in incorporating advanced flywheel energy
storage technology as part of their regulation assets," said Virgil
Rose, Beacon Power Chairman. "Today's utilities face numerous
challenges in maintaining stable and reliable electricity grids,
especially with the increase in intermittent renewable energy
resources like wind and solar. We believe that our fast-responding
flywheel systems are an ideal complement to conventional regulation
methods and we look forward to working together with NorthWestern
Energy."
Once the system is operational later this year, Beacon and
NorthWestern Energy will work closely together to develop the
flywheel system's control signal algorithms to determine how best
to optimize performance of the adjacent DGGS, and to evaluate and
quantify the impact and potential benefits of the flywheel
resource. The companies will also seek to determine the optimum
amount of flywheel regulation capacity for the site should
NorthWestern elect to expand the flywheel capacity.
Beacon owns and operates a 20-megawatt (MW) flywheel-based
energy storage plant in Stephentown, New York, that provides
regulation services to the state's power grid. The Company is also
planning to build a second 20 MW plant in Pennsylvania.
About NorthWestern Energy NorthWestern Energy
provides electricity and natural gas in the Upper Midwest and
Northwest, serving approximately 661,000 customers in Montana,
South Dakota and Nebraska. More information on NorthWestern Energy
is available on the Company's website at
www.northwesternenergy.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 MatrixTM, now in production, 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. Beacon is a publicly traded
company with its research, development and manufacturing facility
in the U.S. For more information, visit
http://www.beaconpower.com.
Safe Harbor Statements under the Private Securities
Litigation Reform Act of 1995: The Material contained in
this press release may include statements that are not historical
facts and are considered "forward-looking" statements 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, financial performances, and
project development. These "forward-looking" statements are
identified by the use of terms and phrases such as "will,"
"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's expectation. These
factors include: a short operating history; a history of losses and
anticipated continued losses from operations; the complexity and
other challenges of arranging project financing and resources for
one or more frequency regulation power plants, including
uncertainty about whether we will be able to comply with the
conditions or ongoing covenants of the Federal Financing Bank loan
for our Stephentown, New York, facility; our need to comply with
any disbursement or other conditions under the DOE Smart Grid grant
program; a need to raise additional equity to fund Beacon's
projects and our other operations in uncertain financial markets;
conditions in target markets, such as that some ISOs are taking
longer than others to comply with FERC's requirement to update
market rules to include new technology such as ours, and also such
as that frequency regulation pricing is lower in the short-term
than at many times in the past; our ability to obtain site
interconnection approvals, landlord approvals, or other zoning and
construction approvals in a timely manner; limited experience
manufacturing commercial products or supplying frequency regulation
services on a commercial basis; limited commercial contracts for
revenues to date; the dependence of revenues on the achievement of
product optimization, manufacturing and commercialization
milestones; 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;
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 our
stock price, as well as the volatility of the stock price of other
companies in the energy sector, especially in view of current
conditions in the financial markets generally. These factors are
elaborated upon and other factors may be disclosed from time to
time in Beacon Power filings with the Securities and Exchange
Commission. Beacon Power expressly does not undertake any duty to
update forward-looking statements.
CONTACT: Beacon Power
Investor Relations Contact
Chris Witty
Darrow Associates
646-438-9385
cwitty@darrowir.com
NorthWestern Energy
Media Contact
Claudia Rapkoch
(866) 622-8081
claudia.rapkoch@northwestern.com
Beacon Power Corp (MM) (NASDAQ:BCON)
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