clearvision Posted October 31, 2011 Share Posted October 31, 2011 Gigiaom.com:Flywheel maker Beacon Power declared bankruptcy on Sunday, first reported by Reuters, after winning a $43 million loan guarantee from the Department of Energy in the Summer of 2009. This is the second company to declare bankruptcy that had a loan guarantee from the DOE program, following solar maker Solyndra’s bankruptcy about two months ago.Beacon Power makes flywheels, which are energy storage devices in the form of large spinning discs contained in a vacuum that keep electricity flowing over the power grid at a steady frequency. The technology has struggled to reach a mainstream market, but the idea is that flywheels can help stabilize the grid, allow it to run more efficiently, need little maintenance over their 20-year-plus life span, and don’t have some of the toxic chemicals found in many batteries. ----At least we are first in line for the pickings this time. Link to comment Share on other sites More sharing options...
RandyM Posted November 1, 2011 Share Posted November 1, 2011 Flywheels as efficient (and marketable) energy storage devices has never worked and never will. So I guess that's why 43 million taxpayer dollars were put on the line. Link to comment Share on other sites More sharing options...
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