Beacon Power Corp. (fka BCONQ)

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Beacon Power Files Chapter 11 Petition -Bloomberg >BCON
7:36a ET October 31, 2011 (Dow Jones) Beacon Power Files Chapter 11 Petition -Bloomberg >BCON

DOW JONES NEWSWIRES

Beacon Power Corp. (BCON), a maker of energy-storage flywheels, filed for bankruptcy Sunday in U.S. Bankruptcy Court in Wilmington, Del., Bloomberg News reported Monday.
Beacon had received a $43 million loan guarantee from the U.S. Energy Department under the same controversial program that funded Solyndra LLC, which filed for bankruptcy last month. The Massachusetts-based firm listed assets of $72 million and debt of $47 million in its Chapter 11 petition. Two units also entered court protection.
Full story at http://www.businessweek.com/news/2011-10-31/beacon-power-backed-by-u-s-loan-guarantees-files-bankruptcy.html
-Dow Jones Newswires; 212-416-2900

(END) Dow Jones Newswires
10-31-11 0736ET
Copyright (c) 2011 Dow Jones & Company, Inc.BT201110310027862011-10-31 11:36:00.00033SJENOUJ87J9UT4N86F9BBISJDJNF