Beacon Power, which makes energy storage devices used to help the power grid become more efficient, filed for bankruptcy protection Sunday, according to a filing with the Securities and Exchange Commission. The company received a $43 million loan guarantee from the Department of Energy last August.
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Tuesday, November 01, 2011
Beacon Power: Another Energy Loan Gone Bad
NEW YORK -- Another alternative energy company that received a loan guarantee from the U.S. government has filed for bankruptcy.
Beacon Power, which makes energy storage devices used to help the power grid become more efficient, filed for bankruptcy protection Sunday, according to a filing with the Securities and Exchange Commission. The company received a $43 million loan guarantee from the Department of Energy last August.
Beacon Power, which makes energy storage devices used to help the power grid become more efficient, filed for bankruptcy protection Sunday, according to a filing with the Securities and Exchange Commission. The company received a $43 million loan guarantee from the Department of Energy last August.
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2 comments:
Would like to see some real perspective. The media should stop cherry picking these individual failures and instead show some numbers on what proportion of loan recipients failed/headed towards failure and compare this to the success rate of other companies.
Solar power is a joke at this point in time it not cost affective face it you greenie weenies,buy another electric car so you are not in my way when I pull up to the gas pumps
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