DOE-backed Flywheel Storage Designer Files for Bankruptcy
Beacon Power Corp., which developed a first-of-a-kind energy storage facility in New York with the help of a $43-million loan guarantee, filed for Chapter 11 bankruptcy protection Oct. 30 in federal court.
The company, based in Tyngsboro, Mass., built a $69-million, 20-MW flywheel storage facility in upstate New York designed to keep the flow of power steady.