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Beacon Power Gets $2M from NY

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. You can e-mail him at wroush@xconomy.com, call him at (617) 252-7323, or follow him on Twitter at http://twitter.com/wroush.

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