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Beacon Power Corporation designs, develops and delivers fast-responding flywheel-based energy storage solutions that provide clean, grid-stabilizing services to electrical grids. Beacon’s Smart Energy Matrix, now in commercial operation, is a megawatt-scale energy storage facility that provides dependable, responsive and cost-effective frequency regulation services. Beacon’s first full-scale 20 MW flywheel plant is located in Stephentown, New York.... More »
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Investor Relations
Chris Witty
Darrow Associates
646.438.9385
cwitty@darrowir.com
Transfer Agent
Computershare Investor Services
P. O. Box 43078
Providence, RI 02940-3078
Phone: 781-575-2879
Website: http://www.computershare.com/investor
Independent Accountants
Miller Wachman LLP
100 Cambridge Street, 13th Floor
Boston, MA 02114
Phone: 617-338-6800
Fax: 617-338-8485
Corporate Counsel
Edwards Angell Palmer & Dodge LLP
111 Huntington Avenue
Boston, MA 02119
Phone: (617) 439-4444
Fax: (617) 439-4170
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.