UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                    FORM 8-K
                                 CURRENT REPORT
                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934

         Date of report (Date of earliest event reported): January 31, 2005

                            BEACON POWER CORPORATION
               (Exact Name of Registrant as Specified in Charter)

        DELAWARE                       001-16171               04-3372365
(State or Other Jurisdiction of   (Commission File Number)   (IRS Employer
        Incorporation)                                     Identification No.)

      234 BALLARDVALE STREET
           WILMINGTON, MA                                   01887
(Address of Principal Executive Offices)                  (Zip Code)

        Registrant's telephone number, including area code: 978-694-9121

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:

         [  ]  Written communications pursuant to Rule 425 under the
               Securities Act (17 CFR 230.425)

         [  ]  Soliciting material pursuant to Rule 14a-12 under the
               Exchange Act (17 CFR 240.14a-12)

         [  ]  Pre-commencement communications pursuant to Rule 14d-2(b)
               under the Exchange Act (17 CFR 240.14d-2(b))

         [  ]  Pre-commencement communications pursuant to Rule 13e-4(c)
               under the Exchange Act (17 CFR 240.13e-4(c))



                Section 1 - Registrant's Business and Operations

Item 1.01 Entry into a Material Definitive Agreement.

     On February 8, 2005, Beacon Power Corporation (the "Company")  received the
signed and approved  agreement  between the  California  State Energy  Resources
Conservation  and  Development  Commission  (Commission)  and  the  Company.  On
February 14, 2005,  the Company  issued a press release  announcing  that it had
entered into this  agreement.  A copy of such press  release is filed as Exhibit
99.1,  and a copy of the  agreement  is filed as Exhibit  10.1,  to this Current
Report on Form 8-K.

                  Section 9 - Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits.

    (c) Exhibits

    10.1    Agreement between Beacon Power Corporation and the California State
            Energy Resources Conservation and Development Commission
            (Commission), dated as of January 31, 2005.

    99.1    Press release of Beacon Power Corporation dated February 14, 2005






                                    Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.


                                                   BEACON POWER CORPORATION



Date:  February 15, 2005                By:/s/ James M. Spiezio
                                           --------------------
                                      Name:  James M. Spiezio
                                     Title:  Secretary and Chief Financial
                                             Officer




                                  Exhibit Index

Exhibit No.                Description

10.1     Agreement between Beacon Power Corporation and the California State
         Energy Resources Conservation and Development Commission (Commission),
         dated as of January 31, 2005.

99.1     Press release of Beacon Power Corporation dated February 14, 2005