Beacon Power Acquires Power Monitoring Co.

[RenewableEnergyAccess.com] Solar PV inverter company Beacon Power is acquiring NxtPhase T&D Corporation, a privately held Canadian supplier of digital and fiber optic products for electric power and grid monitoring and control. In addition to solar inverters, Beacon Power also manufacturers flywheel-based energy storage systems. NxtPhase manufactures and markets optical sensors to measure current and voltage, protective relays and digital fault recorders – all key components for reliable electrical grid operation. Current and voltage sensors provide the fundamental source information for all control functions and bulk power financial transactions. NxtPhase optical sensors make fiber optic-based measurements and, the company believes, offer significant improvements in accuracy, installed cost, environmental performance and safety as compared to conventional sensors. Beacon’s acquisition of NxtPhase involves the disbursement of approximately 15.7 million new common shares of Beacon to NxtPhase investor shareholders. Also, immediately after closing, Beacon will grant restricted stock units covering approximately 2.7 million new common shares of Beacon to the NxtPhase employees. An aggregate of $4.4 million of equity financing has also been committed to Beacon and to NxtPhase by a fund affiliated with Perseus. More specifics of the financial arrangements can be found via a press release at the following link.
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