Yesterday 3:28 pm
democrats hurting the tax payersMR-7 » 23 minutes ago » wrote: ↑ So you are showing us an article from 2014, that talks about a company called Beacon Power.
Moniz points to a small company called Beacon Power as an example. It got an Energy Department loan, went bankrupt and defaulted on about $14 million in debt. Today the company is back in business, providing a valuable service to electricity grids and repaying the rest of its loan. In eastern Pennsylvania, one of Beacon's facilities sits on 4 acres in an industrial park. Underground are 200 black flywheels that each measure 7 feet tall and 3 feet around, and weigh 2,000 pounds. They spin faster when storing energy and slow down when releasing it.
Beacon Power received a $43.5 million federal loan guarantee in August 2010 from the Department of Energy2.
Beacon Power declared bankruptcy on October 31, 2011.
You are so **** stupid POSER BOY
Big Losses for Taxpayers as Another Green Company Turns RottenBeacon Power, touting a high-tech flywheel energy storage system, secured a $43 million guarantee from the Department of Energy and then went bankrupt. By Bob Adelmann