Clean Power Back-Up Solutions Gain Footing
Beacon Power Corporation (BCON), which competes with companies like Capstone Turbine Corporation (CPST), received approval for its flywheel technology to earn alternative energy credits under the Massachusetts Alternative Energy Portfolio Standard (APS) program. Meanwhile, Titan Worldwide Energy, Inc. (TEWI) and other clean and efficient back-up power providers have also seen consistently higher revenues.
Beacon Power Approved to Earn APS Credits
Beacon Power Corporation [[BCON]] announced last week that its Tyngsboro-based flywheel energy storage systems, which have been generating revenue for nearly a year by providing frequency regulation services on the New England power grid, have been approved to earn alternative energy credits under the Massachusetts Alternative Energy Portfolio Standard (APS) program.
Beacon’s flywheels are eligible for the program because they store and discharge electricity – effectively recycling it to and from the power grid – to provide frequency regulation with zero fuel consumption or emissions. Thanks to their clean operation (as compared to fossil-fuel power plants that provide the same service), Beacon has begun earning state-authorized APS credits, or certificates, starting from the second quarter of 2009.
The number of certificates Beacon will earn is based on a formula that takes into account the amount of stored energy the systems inject into the grid, as well as the energy withdrawn from the grid for storage. The Company plans to sell the credits to utilities or other retail electricity suppliers that need to meet mandated Massachusetts APS requirements, thus creating an additional revenue source. Beacon is currently evaluating how much the APS certificates may be worth and how to sell them in the most effective manner.
Titan Energy Announces Record Results
Titan Energy Worldwide, Inc. [[TEWI.OB]], a leader in distributed power generation products and intelligent energy management services, released preliminary financial results for the third quarter of 2009 last week. The Company reported more than $3.3 million in sales for the quarter, which is an improvement of 38% over the previous quarter and surpasses the previous record set in the 2nd quarter of 2008. The record quarter was helped by September sales figures of $1.36 million, one of the highest revenue months in the Company’s history.
“I believe we will continue to set company records this year and into 2010. We have broadened our customer base and grown our business in many critical sectors including the military, telecommunications, federal defense and healthcare. We are offering customers the most advanced distributed power generation products and delivering these systems in a timely manner. Ours sales and support teams are working at full gear now and we anticipate improving sales numbers for the next 6 to 12 months,” stated Thomas Black, Chief Operating Officer of Titan Energy Worldwide, Inc.
Titan Energy provides back-up, emergency and ancillary power systems to support a wide range of critical operations in both the military and private sectors. These systems provide distributed energy during emergencies, natural disasters or during times when power from the electrical grid is suboptimal or unavailable. Titan Energy provides engineering, planning, equipment and service support on all its power systems, which range from 50kW to multiple megawatts in size.
CONTACT: Daniel Minton, Managing Director, 406-862-5400, daniel@accelerize.com