Beacon Power adds to Obama administration's post-Solyndra woes
(NEWSER) - More potential trouble for the Obama administration: On the heels of Solyndra, another federally-backed power company has gone bankrupt. A year ago, Beacon Power received a $43 million loan guarantee from the Department of Energy, Reuters reports. The company drew down $39 million of that loan for a $69 million energy storage plant in Stephentown, New York. But the Energy Department says Beacon Power's woes aren't quite as bad as Solyndra's: The New York plant is still running despite the bankruptcy, marking a contrast to Solyndra’s shutdown. More»
