Beacon Power Assets Attract $30.5M Private Equity Bid

Law360, Wilmington (February 3, 2012, 5:34 PM EST) -- Bankrupt Beacon Power Corp., a smart-grid technology company that received a government-backed loan under the same stimulus program as Solyndra LLC, said in bankruptcy court Friday that a private equity firm is offering $30.5 million for its assets.

Two entities affiliated with Rockland Capital LLC, a private equity firm focused on the energy sector, have agreed to serve as stalking horse bidders for Beacon’s demonstration facility in Stephentown, N.Y., and other assets, according to court documents filed in Delaware bankruptcy court.

The Woodlands, Tx.-based private equity...
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