Developing renewable and clean technology companies in New York
Monday, August 9, 2010
Beacon Power to establish the world's first flywheel energy storage plant in Stephentown, NY
Beacon Power, a Massachusetts based company has developed a device that stores energy from the grid and can provide up to 100 Kilowatts for 15 minutes to buffer disturbances. The device is a carbon fiber flywheel that spins at mach 2 speeds or 16,000 revolutions per minute. Beacon Power is in the process of constructing its first flywheel storage plant in Stephentown, NY, which will utilize 200 flywheels to buffer 20 megawatts of grid power.
The company has secured a $43,125,000 loan from the Department of Energy as well as $2 million in funding from NYSERDA. The capital will cover a total of 65.4 percent of the estimated $69 million needed for construction. The storage plant will be the first of its kind and will replace traditional methods of fossil fuel combustion to maintain a balance between supply and demand.