A worker calibrated a flywheel at Beacon Power. Its systems store kinetic energy that can be converted into electricity.
(Wiqan Ang for The Boston Globe/File 2008)
$47m in debt, Beacon Power seeks court aid
Like Solyndra, Mass. company got US loan help
A worker calibrated a flywheel at Beacon Power. Its systems store kinetic energy that can be converted into electricity.
(Wiqan Ang for The Boston Globe/File 2008)
Beacon Power Corp., a Tyngsboro energy- storage company that received $43 million in backing from the US program that supported failed solar-panel maker Solyndra LLC, sought bankruptcy protection from creditors. The company, which makes flywheels that manage energy moving through a grid, warned Aug. 9 that it might not remain a “going concern.’’ Beacon had sought to avoid the fate of Solyndra, which filed for bankruptcy after receiving a $535 million loan guarantee from an Energy Department program designed to spur alternative-energy development.
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