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BP Fly Corporation Message Board

  • hyperbola_4791 hyperbola_4791 Dec 20, 2004 10:05 AM Flag

    C'mon BCON, let's see u touch $1


    Anyone here, besides me, think it can happen?!?

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    • I learned that each contract is worth $1 MILLION
      this is such a BIG matter for a 29-employee
      company. BCON will run, I will stay relaxed and patient, waiting for BCON to announce news.
      $1 MILLION A CONTRACT. I just find out.
      It will touch $1 sooner or later, friends.

      Wilmington, Mass.-based energy firm's shares soar on contract news

      WILMINGTON, Mass., Dec 15, 2004 (The Sun - Knight Ridder/Tribune Business News
      via COMTEX) -- Shares of Beacon Power Corp. tripled in just over 24 hours after the developer of energy storage systems announced yesterday that it had landed deals with utility organizations in New York and California.

      Shares of Beacon were trading at $1.27 a share in Nasdaq activity this morning, up 18 cents on the day and almost triple their value at yesterday's opening of 44 cents. They were as high as $1.44 apiece earlier today.

      A public company that's nonetheless still in its developmental stages, Beacon is awaiting final contracts on two projects worth more than $1 million each. The pacts call for Beacon to provide its flywheel electricity frequency-stabalizing
      system for New York and California utility agencies.

      "Financially, it will be a plus," Beacon spokesman Gene Hunt said yesterday. "But more importantly, it gets us to the next stage of development. It allows us to deploy them in the field and prove the concept."

      Beacon is building two demonstration-sized systems for two state agencies -- the
      New York State Energy Research and Development Authority, and the California
      Energy Commission. Company officials hope the work will serve to prove the
      product and result in sales of full-scale versions.

      "Those are two important states, from an energy perspective," Hunt said.

      Beacon's flywheel power system stores energy from a power grid that can be tapped as needed, regulating power grid frequency. Without the flywheel system, power grid frequency is regulated by fossil-fuel power generation, which according to Hunt, is fossil fuels "inappropriately
      utilized." In addition to not wasting fuel, the flywheel system is environmentally friendly and designed to last 20 years, Hunt said.

      The 29-employee company has raised $41 million in venture capital and $49 million through its initial public offering, but has been essentially living off its cash holdings. Through the first nine months of this year, the company had posted a net loss of $6.3 million on revenues of just $265,000. Developing full-scale models of the projects called for by New York and
      California agencies would require initial investments, Hunt said.
      --By Rebecca Lipchitz

0.0257+0.0006(+2.39%)Feb 27 2:39 PMEST

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