Beacon Power (NASDAQ:[[ticker:BCON]]), a Tyngsboro, MA-based provider of services and products for efficient electricity use, says it has struck a deal to raise up to $18 million through the sale of its common stock to investment fund Seaside 88 over the next 18 months. At least some of the funds will support the production of Beacon’s energy-storing flywheel systems, company CEO Bill Capp said in a statement.
Author: Ryan McBride
Ryan is an award-winning business journalist who contributes to our life sciences and technology coverage. He was previously a staff writer for Mass High Tech, a Boston business and technology newspaper, where he and his colleagues won a national business journalism award from the Society of American Business Editors and Writers in 2008. In recent years, he has made regular TV appearances on New England Cable News.
Prior to MHT, Ryan covered the life sciences, technology, and energy sectors for Providence Business News. He graduated with honors from the University of Rhode Island in 2001 with a bachelor’s degree in communications. When he’s not chasing down news, Ryan enjoys mountain biking and skiing in his home state of Vermont.
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