|Type||Limited Liability Company|
|Industry||flywheel energy storage, utility frequency|
|Predecessor(s)||Beacon Power Inc.|
|Headquarters||Tyngsborough, Massachusetts, U.S.|
|Area served||New York, United States|
|Revenue||US$900 thousand (2010)|
|Operating income||US$-21,340 thousand (2010)|
|Net income||US$-22,680 thousand (2010)|
|Total assets||US$11,940 thousand (2010)|
|Total equity||US$28,630 thousand (2010)|
|Parent||Rockland Capital LLC|
Beacon Power is an American Limited Liability Company and wholly owned subsidiary of Rockland Capital LLC specializing in flywheel-based energy storage headquartered in Tyngsborough, Massachusetts. Beacon designs and develops products aimed at utility frequency regulation for power grid operations.
The storage systems are designed to help utilities match supply with varying demand by storing excess power in arrays of 2,800-pound (1,300 kg) flywheels at off-peak times for use during peak demand.
In June 2008, Beacon Power opened new headquarters in Tyngsboro, with financing from Massachusetts state agencies. The new facility is intended to support an expansion of the company's operation.
On 30 October 2011, the company filed for bankruptcy protection under Chapter 11, Title 11, United States Code in the United States bankruptcy court in Delaware. As part of the bankruptcy court proceedings, Beacon Power agreed on November 18 to sell its Stephentown facility to repay the DOE loan.
As of 6 February 2012, Rockland Capital, a private equity firm, bought the plant and most of the company's other assets for $30.5 million. Rockland Capital intends to rehire most of staff and to provide the capital to build a second 20MW plant in Pennsylvania.
||This article needs attention from an expert in Companies. The specific problem is: Beacon Power Inc. main operations are now owned by Beacon Power, LLC through outside acquisition. (July 2012)|
Notes and references
- "Beacon Power Company History". Retrieved 2012-07-06.
- "Bloomberg- Income Statement for Beacon Power Inc.". Retrieved 2012-07-06.
- "Bloomberg- Balance Sheet for Beacon Power Inc.". Retrieved 2012-07-06.
- "Smart Planet Article". Retrieved 2012-07-06.
- Peter Howe (June 13, 2008). "Beacon Power puts new spin on clean energy", New England Cable News.
- "SatCon sells off two units for $5.6M", Mass High Tech (September 29, 2008).
- "Beacon Power's Affiliate, Satcon Technology Corporation, to Distribute Five Million Beacon Power Shares" (Press release). SatCon Technology Corporation. September 13, 2001.
- Steven Syre (August 14, 2003). "Brownout at energy firms", The Boston Globe.
- Fact Sheet: The Department of Energy's Loan Programs, March 5, 2010
- Beacon Power, Nordic Windpower Get $59M DOE Loan Guarantees, July 2, 2009
- Beacon Power, Backed by U.S. Loan Guarantees, Files Bankruptcy, October 31, 2011
- Milford, Phil (December 27, 2011). "Beacon Power Wins Judge's Approval for Auction Procedures". Bloomberg.
- "UPDATE 1-Beacon Power finds buyer, Energy Dept sees return". Reuters. February 6, 2012.
- Corum, Lyn. The New Core Technology: Energy storage is part of the smart grid evolution, The Journal of Energy Efficiency and Reliability, December 31, 2009. Discusses: Anaheim Public Utilities Department, lithium ion energy storage, iCel Systems, Beacon Power, Electric Power Research Institute (EPRI), ICEL, Self Generation Incentive Program, ICE Energy, vanadium redox flow, lithium Ion, regenerative fuel cell, ZBB, VRB, lead acid, CAES, and Thermal Energy Storage.
- Ricketts, Camille. DOE Charges Up Flywheels, Finalizes $43M Loan to Beacon Power, VentureBeat, The New York Times, August 10, 2010. Discusses Beacon Power and flywheel energy storage.
- Beacon Power — Official website
- Reports and White Papers on flywheel-based energy storage systems, Beacon Power
- June 2008 newspaper article