In Phase II, the company will be allowed to draw up to 95% of the $24m smart grid grant it was awarded by DOE in late 2009.
Beacon is currently limited by a Phase I spending cap of 4% of the grant amount, and the Phase II funds will be used to pay for project expenses including material and component procurement, equipment manufacturing and installation, and physical plant construction.
Beacon designs, develops and commercializes products and services to support stable electricity grid operation.
