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Beacon Power bankrupt

Beacon Power Corp joins the list of US Department of Energy (DoE) loan guarantee recipients filing for bankruptcy this year.

By Kari Williamson

The energy storage company received a US$43 million loan guarantee from DoE in 2010 to build a 20 MW flywheel energy storage plant in Stephentown, NY, USA.

Beacon Power has US$72m in assets and US$47m in debt, according to Reuters.

Several high-profile companies have filed for bankruptcy this year including Solyndra, Evergreen Solar and Stirling Energy.

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Energy Storage Including Fuel Cells  •  Policy, Investment and Markets

 

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