July 21, 2008

Beacon Power Awarded Permit for 20MW Stephentown Frequency Regulation Plant

Beacon Power, a company that develops products and services to support stable electricity grid operation, has announced that the Planning Board in Stephentown, New York, voted to issue a special use permit for the company's planned 20MW frequency regulation plant.

This decision, which allows the site of the proposed plant to be used for Beacon's intended purpose, is the final approval needed from the planning board. It follows a vote taken earlier in July 2008 by the board to issue an environmental approval for the project.

With this special use permit approval in place, Beacon will now exercise an option it holds to purchase the seven-acre parcel in Stephentown where it plans to build the frequency regulation plant. The company will also secure standard building permits, as are required for any construction project, and begin initial site development activities.

Beacon is planning to have frequency regulation facilities in two locations before the end of 2008 with a total of 5MW of capacity. The possible locations include Stephentown, Beacon's Tyngsboro headquarters, and a site in Ohio.

Bill Capp, Beacon Power president and CEO, said: "This important vote in our favor by the planning board is another key step toward building a frequency regulation plant in Stephentown. We are grateful to the board for its vision and fairness in evaluating our project, and we look forward to working with the community in the months ahead."