Feds Call Bankrupt Energy Firm An 'Empty Shell'
From Washington Times
Not yet two years after the Department of Energy awarded $43 million in loan guarantees for Beacon Power’s energy storage plant, government attorneys are calling the bankrupt solar company and its affiliates little more than “empty shells” benefiting lawyers and other bankruptcy professionals.
Often overshadowed by the high-profile collapse of another federally backed solar company, Solyndra LLC, Beacon Power also went bankrupt last year. But unlike Solyndra, which failed to find a buyer, Beacon Power announced last month that it had been acquired by a private equity firm.