Beacon Power Corporation (Nasdaq: BCON) announced that it has built and tested an integrated matrix of ten high-power flywheels that operated together to absorb and supply a full megawatt (MW) of electricity.
The system, located in Beacon’s Tyngsboro, Mass. headquarters, will be the first of up to 5MW of flywheel-based regulation capability that will be produced this year and commercially deployed to generate revenues, the company said
Flywheel Energy Storage (FES) works by accelerating a rotor (flywheel) to a very high speed and maintaining the energy in the system as rotational energy. The energy is converted back by slowing down the flywheel.
Until now, Beacon had been building and running individual flywheels in preparation for its first full megawatt implementation. Based on internal testing of an integrated matrix of ten flywheels, the Company has now shown that its one-megawatt Smart Energy Matrix can ramp up and down to absorb and supply a full megawatt of power.
Over the next few weeks, Beacon will begin system testing in conjunction with ISO New England, during which time the flywheel matrix will respond to actual ISO test signals to absorb and supply power. This plan will allow the Company to meet its schedule to interconnect live to the grid and to begin performing frequency regulation services under an ISO New England Alternative Technologies Pilot Program scheduled to start on November 18th.
"This is another significant achievement in our company’s history and for the electric power industry," said Bill Capp, Beacon Power president and CEO. "We’ve proven that a matrix of our Smart Energy 25 flywheels, together with associated electronics, software and other components, can store and release a megawatt of electricity. In recent weeks our flywheel production rates have ramped up with continued good results. Based on this progress, we’re looking forward to responding to live ISO signals in the near future."
The ISO New England Alternative Technologies Pilot Program, which was announced last month, will provide revenue for regulation services until permanent market rules have been developed. This process is expected to take approximately 18 months.
About Beacon Power
Beacon Power Corporation designs, develops and is taking steps to commercialize advanced products and services to support stable, reliable and efficient electricity grid operation. The Company’s primary business strategy is to commercialize its patented flywheel energy storage technology to perform frequency regulation services on the grid. Beacon’s Smart Energy Matrix, now entering production, is designed to be a non-polluting, megawatt-level, utility-grade flywheel-based solution that would provide sustainable frequency regulation services.
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