BCON - Sector: Utilities --- Industry: Electric Utilities

[setravis]

Press Release Source: Beacon Power Corporation


Beacon Power Delivers and Connects Smart Energy Matrix Flywheel Demonstration System in New York
Wednesday March 29, 8:00 am ET 
Company's Second Scale-power System is Fully Operational and Now Performing Live Frequency Regulation


WILMINGTON, Mass.--(BUSINESS WIRE)--March 29, 2006--Beacon Power Corporation (NASDAQ: BCON - News), a company that designs and develops advanced products and services to support more stable and reliable electricity grid operation, announced that it recently delivered, installed and connected a scale-power Smart Energy Matrix demonstration system to the electricity grid in Amsterdam, New York. After arriving at the site, the system was connected and turned up to full power, and is now following and responding to live ISO-specified requirements to demonstrate frequency regulation. The project, jointly funded by the New York State Energy Research and Development Authority (NYSERDA) and the U.S. Department of Energy (DOE) Energy Storage Program, is the second such scale-power system Beacon has delivered, in addition to a similar system in California.


In the coming months the system will be rigorously tested by NYSERDA, in conjunction with Beacon Power and the U.S. DOE, to demonstrate how Beacon's flywheel energy storage technology has the potential to be used to provide frequency regulation services on a commercially competitive basis. The NYSERDA system was also engineered to provide additional application capabilities, including uninterruptible power (UPS) to the site, and volt-amperes reactive power, or VARs, which help to stabilize the local grid. These functions will be evaluated later in the testing process and assessed as to their commercial potential.

"Building, delivering and successfully connecting this latest demonstration system is another major accomplishment by the Beacon engineering team," said Bill Capp, Beacon Power president and CEO. "This system in New York, together with the one that we already installed in California, will enable us to show the respective state energy agencies and regional grid operators how clean, reliable, and fast-responding flywheel energy storage has the potential to meet the demand for frequency regulation in these large and growing markets. Each state has its own performance requirements that our systems have been designed to meet. Results from both demonstrations will support Beacon's steady progress toward large-scale commercialization of our high-energy flywheels for frequency regulation."

"With our growing demand for electricity, it is extremely important to develop new and more advanced technologies that can help improve the performance and reliability of our electric grid," said Peter R. Smith, president and CEO of NYSERDA. "We are extremely pleased to be working with Beacon Power on this important project."

Dr. Imre Gyuk, head of the energy storage program at the U.S. Department of Energy, was pleased with the progress of the project. "Timely completion of the manufacturing process and successful delivery of the system to the testing site in New York State has brought us a huge step closer to proving the effectiveness of flywheels for frequency regulation," he remarked. "We look forward to seeing both the New York and the California systems commissioned in the near future, followed by stringent performance testing and evaluation."

In contrast to the California unit, which was installed on PG&E's transmission system and is designed to respond to centrally dispatched command-and-control signals sent from the California ISO over a secure Internet link, the unit in New York was installed on the distribution side of the grid. It operates autonomously by reading and responding to frequency deviations measured directly from the grid. The ability to flexibly locate a Smart Energy Matrix on either the transmission or distribution side of the grid - and operate on a centrally dispatched or distributed basis - widens the potential market for frequency regulation services and other possible flywheel applications, including reactive power VAR support, transmission and distribution stabilization, and localized UPS.

About Beacon Power

Beacon Power Corporation designs sustainable energy storage and power conversion solutions that would provide reliable electric power for the utility, renewable energy, and distributed generation markets. Beacon's Smart Energy Matrix is a design concept for a megawatt-level, utility-grade flywheel-based energy storage solution that would provide sustainable power quality services for frequency regulation, and thereby support the demand for reliable, distributed electrical power. 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:

Material contained in this press release may include statements that are not historical facts and are considered "forward-looking" 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 and financial performances. These forward-looking statements are identified by the use of terms and phrases such as "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 Power Corporation's expectation. These factors include: a short operating history; a history of losses and anticipated continued losses from operations; a need to raise additional capital combined with a questionable ability to do so; conditions in target markets; no experience manufacturing any product or supplying frequency regulation services on a commercial basis; limited commercial contracts for sales to date; the dependence of sales on the achievement of product development and commercialization milestones; the uncertainty of the political and economic climate of any foreign countries into which Beacon hopes to sell or in which it operates, including the uncertainty of enforcing contracts and the potential substantial fluctuation in currency exchange rates in those countries; significant technological challenges to successfully complete product development; dependence on third-party suppliers; intense competition from companies with greater financial resources; possible government regulation that would impede the ability to market products; possible product liability claims and the negative publicity which could result; any failure to protect intellectual property; the possible need in the future to hire and retain key executives, particularly in light of the substantial workforce reductions during 2001 and 2002; the recent volatility in the stock price of companies operating in the same sector. These factors are elaborated upon and other factors may be disclosed from time to time in Beacon Power Corporation's filings with the Securities and Exchange Commission. Beacon Power Corporation expressly does not undertake any duty to update forward-looking statements.

Contact:
Beacon Power Corporation
James Spiezio, 978-694-9121
[email protected]
or
Gene Hunt, 978-694-9121
[email protected]

--------------------------------------------------------------------------------
Source: Beacon Power Corporation

[setravis]

AP
Beacon Power Installs Prototype in N.Y.
Wednesday March 29, 9:33 am ET 
Beacon Power Installs Demonstration Energy Storage System in Amsterdam, N.Y.


WILMINGTON, Mass. (AP) -- Beacon Power Corp., a developer of energy storage systems, on Wednesday said it has installed a flywheel energy storage demonstration system in Amsterdam, N.Y.
The Smart Energy Matrix project, jointly funded by New York's energy research and development authority and the Department of Energy, is the company's second such demonstration system. A similar system was installed in California.

Beacon said the system will undergo testing by regulators in the coming months.

The company's flywheel systems take electricity from a power source, such as an electric grid or fuel cell, and store it. Power is then delivered as needed when a primary energy source either fails or is disrupted.

Shares of Beacon Power rose 9 cents, or 5 percent, to $1.89 in morning trading on the Nasdaq

[setravis]

AP
Beacon Power Shares Up in Positive Report
Monday March 20, 9:16 am ET 
Beacon Power Shares Climb After Analyst Starts Coverage at 'Buy'


NEW YORK (AP) -- Shares of Beacon Power Corp. climbed in premarket electronic trading Monday, after an analyst initiated coverage on the sustainable energy storage company with a "Buy" rating.
Wilmington, Mass.-based Beacon's flywheel technology "should enable significant cost savings to utility providers by providing a clean and efficient alternative to the incumbent technologies," wrote Merriman Curhan Ford analyst Brion D. Tanous in a client note.


"Nearing the completion of final validation testing, the company is positioned for significant penetration of the $500 million annual U.S. market," the analyst wrote.

The company's environmentally friendly flywheel technology provides uninterruptible electric power for communications networks, computers as well as industrial manufacturers.

Shares jumped 9 cents, or 5.7 percent, to $1.68 in premarket trading on the INET electronic exchange. Shares closed at $1.59 on the Nasdaq Friday.

[gambler2075]

Hmm.. my group leader has been buying bcon at 1.69 so I will mirror him and buy at 1.72... just 8k. The rationale is that cpst has been moving, a good base has been put in, and since summer is coming the powers that be will decide to run this stock... just a matter of time.

g

[Terliso]

BCON Update:

[Terliso]

Update BCON:

[tokyoseminole]

Hi, this one is looking interesting, can we get TA update?

Thanks

[Livana]

Well, I'm not sure what's going on with BCON, but it is up 17% so far on more than average volume. I have read somehting about a conference, but can that explain that spike? I don't know... All I know is that I'm almost back breaking even.

[Terliso]

Lokks like BCON found support @ 200EMA ...it bounce back after hitting $1.20 just above a penny on my $1.19 target

[guledh0]

I think BCON is going to hold above $1. Some people have great expectations for BCON. Summer is coming, "anyone think that BCON IS GOING to Explod like last summer?"

[setravis]

If you wanted to jump back in,
many a reasons to do so today.
Symmetrical Triangle (Continuation) Pattern.
Breaking out with Strong Volume
Volume: 2,925,581
Avg Vol (3m): 932,933
Breaking out above 50-day MA
Small cap,with good daily volume makes it tradeable.
Hurricane season is here! Time to pick a few that may run.

Support @ $1.29...1.21...1.12
Resistance @ $1.42...1.52...1.63

MACD is Bullish

Technicals
Percentage Gainer

Last Price Quote is:
12.71%above 13-day EMA
5.74%above 50-day EMA
RS Rating: 19 

Fundamentals
Key Data:
Market Cap (M): $68.93 
P/E Ratio: NA 
PEG Ratio: N/A 
Next Earnings: N/A
Last Analyst Rating: Buy

Symmetrical Triangle (Continuation) Pattern.
The symmetrical triangle, which can also be referred to as a coil, usually forms during a trend as a continuation pattern. The pattern contains at least two lower highs and two higher lows. When these points are connected, the lines converge as they are extended and the symmetrical triangle takes shape. You could also think of it as a contracting wedge, wide at the beginning and narrowing over time.

While there are instances when symmetrical triangles mark important trend reversals, they more often mark a continuation of the current trend. Regardless of the nature of the pattern, continuation or reversal, the direction of the next major move can only be determined after a valid breakout.

Edwards and Magee suggest that roughly 75% of symmetrical triangles are continuation patterns and the rest mark reversals. The reversal patterns can be especially difficult to analyze and often have false breakouts. Even so, we should not anticipate the direction of the breakout, but rather wait for it to happen. Further analysis should be applied to the breakout by looking for gaps, accelerated price movements, and volume for confirmation. Confirmation is especially important for upside breakouts.

Prices sometimes return to the breakout point of apex on a reaction move before resuming in the direction of the breakout. This return can offer a second chance to participate with a better reward to risk ratio. Potential reward price targets found by measurement and parallel trend line extension are only meant to act as rough guidelines. Technical analysis is dynamic and ongoing assessment is required.

[Ramsburg]

Profile: Beacon Power Corporation, a development stage company, together with its subsidiaries, engages in the design, development, configuration, and sale of products and services to support electricity grid operation. The company's sustainable energy storage and power conversion solutions provide electric power for the utility, renewable energy, and distributed generation markets in the United States.
Website: http://www.beaconpower.com
Market Cap: 80M

Trading Idea:
- BCON is hot speculative small cap, already traded in the 3SOF portfolio (August last year for a quick 40% profit).
- The stock is heavily depressed on the long term frame, giving some pre signs of upside inversion for this time frame.
- Since 2003, August has always been a great month for BCON, this is not a reason to trade it by it self, but the stock is already showing some signs of action...
- The short term technical pattern is showing a lot of strength against the general market, already up trending since mid June, making consecutive higher lows and higher highs on this time frame.
- Yesterday BCON closed above its ema-50 and breakout a descending resistance line that we can consider the top of a triangular pattern.
- The short term momentum indicators are bullish.

Also see this interesting post by «top member» Setravis on BCON at the Stock Picking board.

Trading Plan:
BCON is a risky stock, 3SOF positions are only 6.66% of total equity, so we suggest apprehensive money management rules for this trade, as we may need to have a not so tight stop level.

We are going to buy BCON today at or near the open, our stop price will be announced on the next update (it will be probably set near $1.20)

[Melf Elf]

We are going to buy BCON today at or near the open, our stop price will be announced on the next update (it will be probably set near $1.20)

Frederick,

That looks about right. 

The current pattern looks like it could be another Bear Flag, especially given the stock's recent history of a Bear Channel breakdown and a Bear Flag breakdown (both targets: 1.15 and 1.10 MADE).

The bottom rail of the current pattern came in on July 21 at 1.155.  The low that day was 1.15, so the trendline was validated within a half penny.

The slope of that trendline is 0.00708, so the data points for a stop, if you want to use it, are:

July 25: 1.169

July 26: 1.176

July 27: 1.184

July 28: 1.191

Add 0.00708 each day beyond that.

The down trendline (in blue) off the Bear Channel and Bear Flag highs (the #4s in red) comes in today, July 25 at 1.443.  Yesterday's high was 1.44, so it al-lmost got taken out.

The top of the Bear Flag (red #4 with a question mark) comes in today, July 25, at 1.509.  The slope, exactly parallel to the bottom of the flag, also is 0.00708, so the (rounded) data points for the top of the flag for the remainder of the week are:

July 25: 1.509

July 26: 1.516

July 27: 1.523

July 28: 1.530

[Ramsburg]

Thanks for your TA Melf, very detailed (Applaud)
The main difference between your study and mine in terms of pattern analysis, is that I'm using as the main reference a not so extended descending resistance line, just because it was the one I found with more price tests for this time frame (4).

Update:
BCON was down today, but holding the recent higher ground above the ema-50 (which provided intraday support) and the descending resistance.
We are setting a protective stop level on the short term ascending support.

Trading Plan:
Hold BCON with a stop @ $1.18

[Ramsburg]

Update:
Low volume on today's session, BCON is now consolidating above the breakout level and the ema-50. We'll let this position developing for now with the same plan.

Trading Plan:
Hold BCON with a stop @ $1.18