Profile: BP Fly Corp (BCONQ.PK)
BP Fly Corporation, incorporated on May 8, 1997, is a development stage company. The Company along with its subsidiaries, designs, manufactures and operates flywheel-based energy storage systems. The Company focuses on selling systems on a turnkey equipment basis in domestic and overseas markets. The Company’s sources of revenue included Frequency regulation service revenue from the ISO-NE pilot program, Research and development contracts and a grant, for which revenue has been recognized using the percentage-of-completion method, and Sales of inverters, accessories and APS credits. In October 2011, the Company filed for bankruptcy in U.S. Bankruptcy Court.
The Company’s Smart Energy 25 flywheel system includes the flywheels and their associated power electronics. A 1 megawatt (MW) Smart Energy Matrix is an array of 10 Smart Energy 25 flywheel systems that provides 1 MW of energy storage. A frequency regulation installation includes one or more Smart Energy Matrices, along with ancillary equipment and site work. On January 24, 2011, the Company energized and interconnected 8 MW of flywheel energy storage at its Stephentown plant. The Company earned revenue from up to 3 MW of frequency regulation capacity under the ISO-NE pilot program 2010.
BP Fly Corp
65 Middlesex Rd
TYNGSBORO MA 01879-2041