SatCon Affiliate Beacon Power Corporation Sells Flywheel UPS Systems To Cox Communications
CAMBRIDGE, Mass.--(BUSINESS WIRE)--June 20, 2000--SatCon Technology Corporation(R) (Nasdaq NM: SATC), a leader in power and energy management products, today announced that its spin off affiliate Beacon Power Corporation has signed an agreement with Cox Communications to install Beacon's flywheel energy storage system to support the backup power needs of Cox's advanced cable networks.
While the exact terms of the agreement are not disclosed, William Stanton, CEO, of Beacon Power Corporation stated, "I am thrilled to have this agreement with Cox Communications, which is not only one of the largest cable communications companies, but is also one of the most progressive companies in installing the highest quality communications networks in the United States. This order from a leading cable company, along with our previously announced orders from traditional telephone companies, continues to validate our original belief that our flywheel energy storage systems are vital to the backup energy storage needs of all communications companies."
Commenting on the agreement, David Eisenhaure, SatCon's President and Chief Executive Officer said, "There is a growing recognition of the benefits of flywheels over batteries in the communications markets. As cable communications companies enter the world of broadband cable, where they offer interactive 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."
"In addition to the agreement with Cox Communications, Beacon Power also has field test units at Bell Atlantic and WinDBreak Cable sites and an initial order for 100 systems with TLER Associates in Mexico," continued Eisenhaure. "I think these orders attest to the potential of Beacon's flywheel energy storage systems, as well as the recent private placement by General Electric, Mechanical Technology, DQE Enterprises, The Beacon Group, Penske, Perseus Capital and Micro-Generation technology Fund which amounted to $28.5 million."
siliconinvestor.com
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