Beacon Power Signs Agreement With Gaelectric

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Beacon Power Corp. has entered into a collaboration and development agreement with a subsidiary of Ireland's Gaelectric Group. The agreement establishes Gaelectric as Beacon's exclusive marketing and development partner in the Republic of Ireland, Northern Ireland and the U.K.

The main objectives of the agreement include the following:

– Marketing and sales of multi-megawatt Beacon flywheel energy-storage systems for frequency regulation, frequency response and short-term spinning reserve;

– Development of flywheel-based projects that Gaelectric would own and operate, and in which Beacon will have the option, but not the obligation, to become a co-development partner/project owner;

– Development of flywheel-based projects that Beacon would own and operate, with Gaelectric having a similar option, but not the obligation, to become a co-development partner/co-owner; and

– Identification of opportunities for flywheel technology on the Irish grid, where a detailed model has been completed that shows excellent potential.

Gaelectric is currently developing up to 3,000 MW of wind in Montana, with its first 430 MW project expected to be commissioned in 2014-2015. Beacon plans to install a 1 MW flywheel system in the state for NorthWestern Energy.

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