Maker of flywheel electricity systems files for bankruptcy
comes from the Energy Department's loan guarantee purse that provided loans to solar panel maker Solyndra. That company recently went under, in circumstances that have led to congressional hearings and an FBI probe.
TYNGSBOROUGH, Mass. Beacon Power Corp., which drew considerable attention and $43 million in federal loan guarantees for its innovative flywheel based Prada Glasses Price
units and can't absorb excess power, hence the push to develop economic systems like Beacon's.
Beacon's flywheel system provide frequency regulation for the power grid. This service is Grey Prada Bags becoming more necessary with an increase in wind and solar power, and their variable outputs.
Beacon's loan Prada Sunglasses D11768
The Chapter 11 filing was a function of financing rather than technology; it comes as things appeared to be going well for the company. and Pennsylvania for a 20 megawatt plant in Pennsylvania and was trying to raise private backing for the $53 million project.
Two affiliates also entered court protection. Beacon had been losing money all along and faced its shares being taken off the Nasdaq Stock Market. Beacon warned in an Aug. 9 regulatory filing that it might not remain a "going concern."
systems to manage energy on the power grid, filed for bankruptcy Monday after failing to get more private financing.
That's why Beacon got support from an Energy Department fund program, designed to help create alternative energy supplies.
Beacon Power has about 75 employees at its Tyngsborough headquarters who assemble the power storage units, known as Smart Energy 25, from components manufactured elsewhere, and test them.
Frequency regulation is traditionally done by various power generating units, which get paid per kilowatt rates set by utility regulators. But generators take longer to get up to speed than flywheel Prada Crossbody Bag Uk
Beacon listed assets of $72 million and debt of $47 million in its Chapter 11 petition.
The technology is not without issues, however. Two of the flywheels at the New York plant have disintegrated. A local newspaper quoted neighbors saying the problem could be heard a quarter mile away.
Further, two weeks ago the Federal Energy Regulatory Commission approved a rule providing incentive payments to Beacon and similar companies. That move may make it easier for the company to get out of bankruptcy.
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