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New bankruptcy filing by DOE loan recipient adds fuel to GOP's ire

Another Department of Energy loan guarantee grantee filed for bankruptcy yesterday, just two days after the White House promised to conduct an independent review of the troubled program. Massachusetts-based Beacon Power Corp. filed for Chapter 11 protection in federal bankruptcy court, 14 months after receiving a $43 million loan guarantee from DOE to help produce technology that prevents energy grid power surges. Beacon previously filed for a $23 million grant for DOE.

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