Letter of Intent from Petroleos Mexicanos to Beacon Power Regarding Flywheel Systems Certification and Use

Contract Categories: Business Operations › MOUs
Summary

Petroleos Mexicanos (PEMEX) has expressed interest in Beacon Power's Flywheel Systems for energy storage, contingent on certification by the Instituto Mexicano Del Petroleo. If certified, PEMEX intends to use the systems for communications and remote pipeline monitoring, with an initial order of 300 to 500 units and the possibility of further expansion. The letter outlines PEMEX's interest and the certification requirement but does not constitute a binding purchase agreement.

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EX-10.1-27 3 a2031281zex-10_127.txt EXHIBIT 10.1.27 EXHIBIT 10.1.27 [Petroleos Mexicanos Letterhead] 25 October 2000 JOHN DOHERTY Beacon Power Woborn, MA 01801 PEMEX is very interested in your proposal to use Beacon Flywheel Systems to support our energy storage needs. As we told you previously, we will require that this equipment be tested and certified by the Instituto Mexicano Del Petroleo before we could use it. If this equipment is certified, it would be our intention to use this system for communications and remote pipeline monitoring and control. This use will require a minimum of 300 to 500 systems for the initial install and additional systems as we expand the use. Attention /s/ Jose Montero Gonzalez ING. JOSE MONTERO GONZALEZ Director General