Beacon Power Corp. Signs Agreement with Cox Communications

SatCon Technology Corp. (Cambridge, MA) has announced that its spin-off affiliate Beacon Power Corp. (Woburn, MA) has signed an agreement with Cox Communications (Atlanta, GA) to install Beacon's flywheel energy storage system to support the backup power needs of Cox's advanced cable networks."There is a growing recognition of the benefits of flywheels over batteries in the communications markets," said David Eisenhaure, SatCon president and CEO. "As cable communications companies enter the world of broadband cable, where they offer bi-directional cable as well as Internet and telephone services, they are realizing the inherent disadvantages of placing traditional battery backup systems in the field. Flywheels are an ideal replacement for batteries because they can operate more reliably, require less maintenance and are longer lived; they can also be remotely monitored and are more environmentally friendly." According to Eisenhaure, the company also has field test units at Bell Atlantic and WinDBreak Cable sites and an initial order for 100 systems with TLER Associates in Mexico. Private placements have been made by General Electric, Mechanical Technology, DQE Enterprises, The Beacon Group, Penske, Perseus Capital and Micro-Generation technology fund totalling $28.5 million.