Beacon Power Gets $2M from NY

Wade Roush6/11/09

Beacon Power (NASDAQ: BCON), a Tyngsboro, MA, company that makes flywheel-based systems that help to smooth out power supplies on the electrical grid, said today that it has won a tentative contract award worth up to $2 million from the New York State Energy Research and Development Authority, a state agency in New York charged with increasing energy efficiency. If signed, the contract will cover the costs of building the first stages of a planed 20-megawatt flywheel energy storage plant in Stephentown, NY.

Wade Roush is Xconomy's chief correspondent and editor of Xconomy San Francisco. You can e-mail him at wroush@xconomy.com or follow him on Twitter at twitter.com/wroush.