Recovery Act Investment - Beacon Power
The Recovery Act signed earlier this year intended to boost the economy and help many companies, large or small. One very small company in terms of market cap is Tyngsboro, MA based Beacon Power (Nasdaq:BCON), an electrical grid technology provider.
The company received $43 million of guaranteed loan from The Department of Energy for the 20 megawatt flywheel energy storage plant in Stephentown, New York. The plant will help to improve the reliability of New York State's electric grid and will reduce carbon dioxide emissions up to 82% over its 20 year life compared to coal, gas or hydro plant. The project will create about 40 permanent jobs and 20 temporary construction jobs.
Shares of Becon Power has been struggling for more than a year and is still on the decline. The stock is currently trading at 23.7 cents per share with market cap of only 48 million. The company's revenue is on the decline as the net loss continue to climb. The Nasdaq listing extension recently relieved worry investor as stock traded at this price normally could face de-listing. The company has until March 14, 2011 to get its stock price traded above $1 so either a reverse split will happen or some great news would lift the stock price up more than 300% of its current trading price.
The company received $43 million of guaranteed loan from The Department of Energy for the 20 megawatt flywheel energy storage plant in Stephentown, New York. The plant will help to improve the reliability of New York State's electric grid and will reduce carbon dioxide emissions up to 82% over its 20 year life compared to coal, gas or hydro plant. The project will create about 40 permanent jobs and 20 temporary construction jobs.
Shares of Becon Power has been struggling for more than a year and is still on the decline. The stock is currently trading at 23.7 cents per share with market cap of only 48 million. The company's revenue is on the decline as the net loss continue to climb. The Nasdaq listing extension recently relieved worry investor as stock traded at this price normally could face de-listing. The company has until March 14, 2011 to get its stock price traded above $1 so either a reverse split will happen or some great news would lift the stock price up more than 300% of its current trading price.
posted by Stock Geek at
8:52 AM
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