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Beacon Power develops and manufacturs flywheel energy storage systems that provide computer-quality electric power for telephone companies, cable companies, utilities and distributed generation applications. Personal computers, servers, networks and all forms of digital communications has created an increased useage of power and the accompanying power shortages through-out the U.S., Europe and other industrialized locations in the world. Flywheel energy storage has recently emerged as an effective way to provide reliable back-up energy. Beacon was initially financed by SatCon Tech. (SATC) and is using SATC's proprietary flywheel technology (from BCON's S-1): >>>SatCon has granted us a perpetual, exclusive, royalty-free, worldwide right and license to all patents, patent applications, technical knowledge, information and know-how in existence in May 1997 and any improvements thereon prior to the completion of this offering which relate to the field of flywheel energy storage products<<< Recently GE and others have invested in Beacon, and GE in particular appears poised to support Beacon in an attempt to reduce flywheel production costs, and I anticipate that GE may provide distribution services for BCON, similar to an agreement that GE reached with Plug Power (PLUG) previously. DQE Enterprises already has a regionally-limited distribution agreement with BCON. >>>As a result of the recent investment in our company by GE Capital Equity Investments, Inc., we are negotiating an agreement with GE Corporate Research & Development, under which GE CR&D will agree to provide us with technical expertise in controls and materials and consultations with respect to our cost reduction strategy...<<< Beacon does not currently face direct flywheel competition from any publicly-traded company. Active Power (ACPW) recently completed their IPO (approx. one month ago) and is currently valued at over $2.5 Billion. ACPW's flywheel technology does not currently compete with BCON nor does it provide the same broad capabilities as does BCON's. And it does not appear that ACPW's flywheels have the same potential as does BCON's. Other principal BCON shareholders include the following companies: SatCon Technology Corporation 33.3% Perseus Capital, L.L.C. 30.8% DQE Enterprises, Inc. 12.2% Mechanical Technology, Incorporated 9.8% GE Capital Equity Investments, Inc. 9.7% Micro-Generation Technology Fund, L.L.C. 8.9% The Beacon Group Energy Investment Fund II 7.3% Penske Corporation 3.2% This appears to be an ideal opportunity for Beacon Power to go public in light of all the press and media attention devoted to energy problems, and the increasing number of black-outs and brown-outs. Beacon's flywheel system provides a number of industries with an environmentally friendly alternative and an increased degree reliability at competitive prices which are sure to decline as production increases. | ||||||||||||
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