With all the trouble solar panel manufacturing companies have been having I did not know that a flywheel company was also spinning into the ground. Beacon Power Corp. has filed for bankruptcy protection. The flywheel was to be an energy storage device and the US Department of Energy loan guarantee of $43 million. According to a PennEnergy article the company had revenues of $525,000 for the second quarter. This does not appear to enough revenue to support a $43 million loan. It took Beacon Power about two years to go through the loan money. That is a burn rate of $1,791,000 per month over the loan period. With the revenue for the quarter not even close to this amount it looks like the failure was bound to happen.
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