Beacon Power is in line for $43m loan guarantee
July 2, 2009 11:15 AM
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Beacon Power Corp., a Tyngsborough company specializing in products and services that support efficient electricity grid operations, said that it has received a conditional commitment from the US Department of Energy for a loan guarantee $43 million.
"The DOE's offer outlines terms for a loan that would finance more than 60 percent of Beacon's planned 20-megawatt flywheel-based energy storage plant to be located in Stephentown, N.Y.," the company said in a press release.
To read a Globe story from last September about Beacon and its plans, please click here.
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