Beacon PE Deal A Bright Spot For DOE Program

Law360, New York (March 05, 2012, 3:20 PM ET) -- The $31 million bankruptcy sale of smart-grid technology firm Beacon Power Corp. to private equity investors, approved by regulators on Friday, is a surprise success story for the much-criticized U.S. Department of Energy loan program following the black eye it suffered with the failure of Solyndra LLC, experts said.

With help from a $43 million DOE loan in 2010, Beacon built a first-of-its-kind energy storage flywheel, which takes surplus power off the grid and then stores it for later use when power demand spikes.

The technology...
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