Beacon Power Receives Department of Energy Approval to Proceed on Second Flywheel Plant (BCON)

Beacon Power Corporation

, a leading provider of fast-response energy storage systems and services to support a more stable, reliable and efficient electricity grid, today announced that it has received approval from the U.S. Department of Energy under the terms of its Smart Grid Stimulus Grant program to proceed to the second of three phases of funding for construction of the Company's next 20-megawatt flywheel energy storage plant, to be located in Hazle Township, Pennsylvania.