Another "Beacon" of the alternative energy goes down in flames.
How many more of these do we get to read about.
Maybe a little application of tar & feathers wouldn't be to far out of line????
Second Energy Department-backed company goes bankrupt
A Massachusetts company that received a $43 million Energy Department loan guarantee last year filed for bankruptcy Sunday, a step certain to fuel criticism of federal green energy financing in the wake of the solar company Solyndra’s collapse.
Beacon Power had received federal loan guarantee to help build an energy storage plant in Stephentown, New York that began operating in January. The Treasury Department’s Federal Financing Bank provided the loan.
Beacon sought bankruptcy protection two days after the White House ordered an independent 60-day evaluation of the Energy Department's loan programs aimed at ensuring effective management and monitoring.
Imagine that...2 days fter a review of the DOE loan guarantee, they decide they can't handle it.
No comments:
Post a Comment