Another DOE-Backed Company in Trouble: Beacon Power Seeks Bankruptcy Protection

摘要

Beacon Power Corp., a Massachusetts-based energy technology company, sought bankruptcy protection Oct. 30 but told the court it has a viable business model with revenue-generating assets that should enable the cash-strapped company to achieve profitability in the future. Beacon Power filed for Chapter 11 restructuring in the U.S. Bankruptcy Court for the District of Delaware (No. 11-13450), along with two subsidiaries, Stephen-town Holding LLC and Stephentown Regulation Services. The company, based in Tyngsboro, Mass., received a $43 million loan guarantee in August 2010 from the Department of Energy to build a 20-megawatt flywheel energy storage facility in Stephentown, N.Y.