Beacon Power Announces 2011 Annual Shareholder Meeting
06 Giugno 2011 - 1:00PM
Beacon Power Corporation (Nasdaq:BCON), a leading provider of
advanced products and services to support a more stable, reliable
and efficient electricity grid, today announced that the Company
will hold this year's Annual Shareholder Meeting on July 13, 2011,
in Stephentown, New York, in close proximity to the site of its
first 20-megawatt flywheel energy storage plant. The meeting will
take place at the Stephentown Town Hall at 26 Grange Hall Road,
beginning at 1:00 p.m. Eastern Time, and run for approximately 90
minutes. It will be followed by a tour of Beacon's 20 MW frequency
regulation plant, located at 99 Grange Hall Road.
Beacon Power cordially invites all its institutional and retail
investors to attend this event for an update on developments and to
see the Stephentown facility in person. The formal part of the
Annual Meeting will also be webcast and available on Beacon's
website at www.beaconpower.com.
About Beacon Power
Beacon Power Corporation designs, develops and commercializes
advanced products and services to support stable, reliable and
efficient electricity grid operation. The Company's primary
business strategy is to build merchant plants and sell turnkey
regulation facilities to meet both domestic and international grid
requirements using its patented flywheel energy storage technology.
Beacon's Smart Energy Matrix, which is now in production, operating
and earning revenue, is a non-polluting, megawatt-level,
utility-grade flywheel-based solution to provide sustainable
frequency regulation services. Beacon is a publicly traded company
with its research, development and manufacturing facility in the
U.S. For more information, visit www.beaconpower.com.
Safe Harbor Statements under the Private Securities
Litigation Reform Act of 1995: The Material contained in
this press release may include statements that are not historical
facts and are considered "forward-looking" statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements reflect Beacon Power Corporation's
current views about future events, financial performances, and
project development. These "forward-looking" statements are
identified by the use of terms and phrases such as "will,"
"believe," "expect," "plan," "anticipate," and similar expressions
identifying forward-looking statements. Investors should not rely
on forward-looking statements because they are subject to a variety
of risks, uncertainties, and other factors that could cause actual
results to differ materially from Beacon's expectation. These
factors include: a short operating history; a history of losses and
anticipated continued losses from operations; the complexity and
other challenges of arranging project financing and resources for
one or more frequency regulation power plants, including
uncertainty about whether we will be able to comply with the
conditions or ongoing covenants of the Federal Financing Bank loan
for our Stephentown, New York, facility; our need to comply with
any disbursement or other conditions under the DOE Smart Grid grant
program; a need to raise additional equity to fund Beacon's
projects and our other operations in uncertain financial markets;
conditions in target markets, such as that some ISOs are taking
longer than others to comply with FERC's requirement to update
market rules to include new technology such as ours, and also such
as that frequency regulation pricing is lower in the short-term
than at many times in the past; our ability to obtain site
interconnection approvals, landlord approvals, or other zoning and
construction approvals in a timely manner; limited experience
manufacturing commercial products or supplying frequency regulation
services on a commercial basis; limited commercial contracts for
revenues to date; the dependence of revenues on the achievement of
product optimization, manufacturing and commercialization
milestones; dependence on third-party suppliers; intense
competition from companies with greater financial resources,
especially from companies that are already in the frequency
regulation market; possible government regulation that would impede
the ability to market products or services or affect market size;
possible product liability claims and the negative publicity which
could result; any failure to protect intellectual property;
retaining key executives and the possible need in the future to
hire and retain key executives; the historical volatility of our
stock price, as well as the volatility of the stock price of other
companies in the energy sector, especially in view of current
conditions in the financial markets generally. These factors are
elaborated upon and other factors may be disclosed from time to
time in Beacon Power filings with the Securities and Exchange
Commission. Beacon Power expressly does not undertake any duty to
update forward-looking statements.
CONTACT: Chris Witty
Darrow Associates
646.438.9385
cwitty@darrowir.com
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