By Kari Williamson

The energy storage company received a US$43 million loan guarantee from DoE in 2010 to build a 20 MW flywheel energy storage plant in Stephentown, NY, USA.

Beacon Power has US$72m in assets and US$47m in debt, according to Reuters.

Several high-profile companies have filed for bankruptcy this year including Solyndra, Evergreen Solar and Stirling Energy.