The Boston Globe

Business

Boston.com

As federal funds dry up, Beacon Power still has reason for hope

By Erin Ailworth

 |  Globe Staff  

  November 27, 2011

For the last few years, financial support from the federal government helped bolster Beacon Power Corp. as it advanced its energy storage technology. Now, the government is pulling back from Beacon, forcing the Tyngsborough company to make it on its own - without one of its largest assets. Beacon, which filed for bankruptcy last month, agreed to sell a first-of-its-kind energy storage plant to pay off a $39.1 million loan balance it owes the Energy Department.

Thank you for reading BostonGlobe.com. You have reached the monthly limit for free articles — to continue reading, get unlimited access to BostonGlobe.com now for just 99¢ for 8 weeks.

Unlimited access to BostonGlobe.com includes:

  • The FULL story all day: Enjoy all of the high-quality, in-depth journalism in the print edition of the Boston Globe — plus breaking news that's updated 24/7.
  • A truly reader-friendly format: It's online news that looks and reads just like the newspaper — uncluttered, uninterrupted.
  • Breakthrough technology: The responsive design automatically adapts content so it always reads perfectly on the digital device of your choice.
GET STARTED TODAY

Free access for home delivery subscribers.

Just need to link your home delivery account; one easy step.

Link my home delivery account

Contact us for help