Beacon’s first grid-scale plant, with 200 flywheels, began operating in January. The 20-megawatt facility in Stephentown, N.Y., was funded using the $43 million loan guarantee.
Beacon also got $29 million in grants from the federal government and Pennsylvania for a 20-megawatt plant in that state and hired Group Robinson LLC to help raise more funds for the $53 million project. Group Robinson, a consulting company, was helping Beacon find overseas customers.
Beacon’s spokesman and lawyer did not immediately respond to e-mails seeking comment on the bankruptcy filing.
On Oct. 28, the Obama administration ordered a review of the Energy Department’s loan guarantee program as congressional committees and the Federal Bureau of Investigation investigate Solyndra’s failure. The review will look at the department’s loan portfolio and focus on future monitoring and management.
Solyndra used its loan guarantee, the biggest provided by the Obama administration for solar-power manufacturing, to build a $733 million factory in Fremont, Calif. Republicans on the House Energy and Commerce Committee called a hearing for Nov. 3 to consider subpoenaing White House e-mails and documents about the process.
The House action may escalate the congressional investigation into the failed solar-panel maker and force a legal fight over the White House’s right to keep internal deliberations confidential. The White House has said the committee received more than 70,000 pages of documents from agencies involved in the Solyndra loan guarantee.
The Energy Department, which approved new loan terms in February that put taxpayer debt behind $75 million in private investment in case of liquidation, rejected a second restructuring request the day before Solyndra closed Aug. 31.
Beacon’s systems use 2,500-pound carbon fiber cylinders rotating as many as 16,000 times a minute to store kinetic energy. The power can be converted into electricity quickly when the grid needs an immediate increase. It also works in reverse if the grid has more power than needed.
Beacon’s shares have plunged 80 percent this year, cutting the company’s market value to $12.8 million and prompting the Nasdaq to warn the stock might be delisted because the price was below the $1 minimum.
“This latest failure is a sharp reminder that DOE has fallen well short of delivering the stimulus jobs that were promised,’’ said Representative Cliff Stearns, a Florida Republican and chairman of the House panel investigating Solyndra’s award.
