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{{Infobox company
{{Infobox company
| name = Beacon Power
| name = Beacon Power, [[LLC]]
| logo = [[File:Beacon Power logo.svg]]
| logo = [[File:Beacon Power logo.svg]]
| type = [[Public company|Public]] ({{NASDAQ|BCON}})
| caption =
| foundation = 1997
| type = Private
| founder =
| traded_as =
⚫
| fate =
| location_city = [[Tyngsborough, Massachusetts]]
| predecessor = Beacon Power Inc.<ref Name=BPH>{{cite web |url=http://beaconpower.com/company/our-history.asp |title=Beacon Power Company History |accessdate=2012-07-06}}</ref>
⚫
| successor =
| foundation = <!-- {{Start date|YYYY|MM|DD}} -->
| founder =
| defunct = <!-- {{End date|YYYY|MM|DD}} -->
| location_city =
| location_country = [[United States|U.S.]]
| location_country = [[United States|U.S.]]
| locations =
| key_people = F. William Capp, <small>[[Chief Executive Officer]]</small>
| area_served = [[New York]], [[United States]]
| key_people =
| industry = [[flywheel energy storage]], [[utility frequency]]
| industry = [[flywheel energy storage]], [[utility frequency]]
| market cap =
| products =
| services =
| revenue = [[United states dollar|US$]]1.39 million (2007)<ref>"[http://www.masshightech.com/stories/2008/04/28/daily11-Beacon-Power-wins-340K-flywheel-system-deal-for-wind-project.html Beacon Power wins $340K flywheel system deal for wind project]", ''Mass High Tech'' (April 29, 2008).</ref>
| revenue =
| operating_income =
| operating_income =
⚫
| net_income =
| assets =
| net_income =
| aum = <!-- Only used with financial services companies -->
| num_employees = 44 (2008)<ref>[http://finance.google.com/finance?client=ob&q=NASDAQ:BCON Google Finance Key Stats]</ref>
| assets =
| market cap = US$90 million<ref name=zenobank>{{cite web |url=http://www.zenobank.com/index.php?symbol=BCON&page=quotesearch |title=Company Profile for Beacon Power Corporation (BCON) |accessdate=2008-10-21}}</ref>
| equity =
| owner =
| num_employees =
| parent = [[Rockland Capital LLC]]<ref Name=SPB>{{cite web |url=http://www.smartplanet.com/blog/intelligent-energy/rockland-capital-buys-doe-backed-beacon-power/13014 |title=Smart Planet Article |accessdate=2012-07-06}}</ref>
| divisions =
| subsid =
| homepage = [http://beaconpower.com beaconpower.com]
| homepage = [http://beaconpower.com beaconpower.com]
⚫
| footnotes =
}}
}}
'''Beacon Power''' ({{NASDAQ|BCON}}) is an [[United States|American]] corporation specializing in [[flywheel]] based [[flywheel energy storage|energy storage]] headquartered in [[Tyngsborough, Massachusetts]]. Beacon designs and develops products aimed at [[utility frequency]] regulation for power grid operations.
'''Beacon Power''' ({{NASDAQ|BCON}}) is an [[United States|American]] [[Limited Liability Company]] and wholly owned subsidiary of [[Rockland Capital LLC]] specializing in [[flywheel]] based [[flywheel energy storage|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 {{convert|2800|lb|kg|adj=on}} flywheels at off-peak times for use during peak demand.<ref name=NECN>Peter Howe (June 13, 2008). "[http://www.necn.com/Boston/Business/Beacon-Power-puts-new-spin-on-clean-energy/1213409435.html Beacon Power puts new spin on clean energy]", ''[[New England Cable News]]''.</ref>
The storage systems are designed to help utilities match supply with varying demand by storing excess power in arrays of {{convert|2800|lb|kg|adj=on}} flywheels at off-peak times for use during peak demand.<ref name=NECN>Peter Howe (June 13, 2008). "[http://www.necn.com/Boston/Business/Beacon-Power-puts-new-spin-on-clean-energy/1213409435.html Beacon Power puts new spin on clean energy]", ''[[New England Cable News]]''.</ref>
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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.<ref>{{Citation|title=Beacon Power, Backed by U.S. Loan Guarantees, Files Bankruptcy |date=October 31, 2011 |url=http://www.businessweek.com/news/2011-10-31/beacon-power-backed-by-u-s-loan-guarantees-files-bankruptcy.html}}</ref><ref>{{cite news| url=http://www.bloomberg.com/news/2011-12-27/beacon-power-wins-bankruptcy-judge-s-approval-of-sale-bidding-procedures.html | work=Bloomberg | first=Phil | last=Milford | title=Beacon Power Wins Judge's Approval for Auction Procedures | date=December 27, 2011}}</ref> As part of the bankruptcy court proceedings, Beacon Power agreed on November 18 to sell its Stephentown facility to repay the DOE loan.
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.<ref>{{Citation|title=Beacon Power, Backed by U.S. Loan Guarantees, Files Bankruptcy |date=October 31, 2011 |url=http://www.businessweek.com/news/2011-10-31/beacon-power-backed-by-u-s-loan-guarantees-files-bankruptcy.html}}</ref><ref>{{cite news| url=http://www.bloomberg.com/news/2011-12-27/beacon-power-wins-bankruptcy-judge-s-approval-of-sale-bidding-procedures.html | work=Bloomberg | first=Phil | last=Milford | title=Beacon Power Wins Judge's Approval for Auction Procedures | date=December 27, 2011}}</ref> 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 the 6th February 2012, Rockland Capital, a [[private equity]] firm, bought the plant and most of the company's other assets for $30.5 million.<ref>{{cite news| url=http://www.reuters.com/article/2012/02/06/beacon-idUSL2E8D6G5620120206 | work=Reuters | title=UPDATE 1-Beacon Power finds buyer, Energy Dept sees return | date=February 6, 2012}}</ref> Rockland Capital intend to rehire most of staff and to provide the capital to build a second 20MW plant in Pennsylvania.<ref>http://beaconpower.com/files/Beacon_Rockland_release_20120206.pdf</ref>
As of the 6th February 2012, Rockland Capital, a [[private equity]] firm, bought the plant and most of the company's other assets for $30.5 million.<ref>{{cite news| url=http://www.reuters.com/article/2012/02/06/beacon-idUSL2E8D6G5620120206 | work=Reuters | title=UPDATE 1-Beacon Power finds buyer, Energy Dept sees return | date=February 6, 2012}}</ref> Rockland Capital intends to rehire most of staff and to provide the capital to build a second 20MW plant in Pennsylvania.<ref>http://beaconpower.com/files/Beacon_Rockland_release_20120206.pdf</ref>


== Competitors ==
== Competitors ==

Revision as of 08:01, 6 July 2012

Beacon Power, LLC
Company typePrivate
Industryflywheel energy storage, utility frequency
PredecessorBeacon Power Inc.[1]
Headquarters
U.S.
Area served
New York, United States
ParentRockland Capital LLC[2]
Websitebeaconpower.com

Beacon Power (Nasdaq: BCON) 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.[3]

History

Beacon Power was founded in Woburn, Massachusetts in 1997 as a subsidiary of SatCon Technology Corporation, a maker of alternative energy management systems. The company went public in 2000.[4][5][6]

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.[3]

In 2009 Beacon received a loan guarantee from the United States Department of Energy (DOE) for $43 million to build a 20-megawatt flywheel power plant in Stephentown, New York.[7][8]

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.[9][10] 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 the 6th February 2012, Rockland Capital, a private equity firm, bought the plant and most of the company's other assets for $30.5 million.[11] Rockland Capital intends to rehire most of staff and to provide the capital to build a second 20MW plant in Pennsylvania.[12]

Competitors

Beacon Power's main competitors include A123, Altair Nanotechnologies, Ener1, NGK Insulators Ltd, Satcon Technology Corporation, Valence Technology, and Enstorage.

See also

Notes and references

  1. ^ "Beacon Power Company History". Retrieved 2012-07-06.
  2. ^ "Smart Planet Article". Retrieved 2012-07-06.
  3. ^ a b Peter Howe (June 13, 2008). "Beacon Power puts new spin on clean energy", New England Cable News.
  4. ^ "SatCon sells off two units for $5.6M", Mass High Tech (September 29, 2008).
  5. ^ "Beacon Power's Affiliate, Satcon Technology Corporation, to Distribute Five Million Beacon Power Shares" (Press release). SatCon Technology Corporation. September 13, 2001.
  6. ^ Steven Syre (August 14, 2003). "Brownout at energy firms", The Boston Globe.
  7. ^ Fact Sheet: The Department of Energy's Loan Programs, March 5, 2010
  8. ^ Beacon Power, Nordic Windpower Get $59M DOE Loan Guarantees, July 2, 2009
  9. ^ Beacon Power, Backed by U.S. Loan Guarantees, Files Bankruptcy, October 31, 2011
  10. ^ Milford, Phil (December 27, 2011). "Beacon Power Wins Judge's Approval for Auction Procedures". Bloomberg.
  11. ^ "UPDATE 1-Beacon Power finds buyer, Energy Dept sees return". Reuters. February 6, 2012.
  12. ^ http://beaconpower.com/files/Beacon_Rockland_release_20120206.pdf
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