Renewable Energy - $5M state loan to help power co. add 68 jobs in Tyngsboro - Boston Herald

Deval Patrick , who attended a ceremony yesterday at Beacon Power’s new headquarters and manufacturing facility, said the loan will help add jobs within the clean-energy technology sector that his administration has targeted for growth here. Beacon makes high-end energy flywheel devices that let utilities store energy when it is not needed - and thus require less fossil fuels to run power plants. If all goes well, Beacon could start adding new jobs later this year and through the end of 2009, bringing its total work force to about 108 people. Some analysts have praised Beacon’s potential but Wall Street in general has been sour on the company, with shares trading yesterday at only $1. read more

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