Washington D.C. --- Energy Secretary Steven Chu today announced that a $43 million loan guarantee has been finalized for Beacon Power Corporation's 20 megawatt innovative flywheel energy storage plant in Stephentown, NY. The plant will help improve the stability and reliability of the state's electric grid and Beacon estimates it will create 20 construction jobs in New York and 40 permanent jobs in Massachusetts. Beacon Power is an energy storage company headquartered in Tyngsboro, Massachusetts.
Washington, DC - Energy Secretary Steven Chu today announced the offer of a $245 million conditional loan guarantee to Red River Environmental Products, LLC to build an activated carbon (AC) manufacturing facility near Coushatta, Red River Parish, Louisiana. The company expects to create 500 jobs during construction and 70 jobs once the plant is fully operational.
WASHINGTON, DC - Today, Energy Secretary Steven Chu announced the issue of a final rule amending the Department of Energy's regulations for its Loan Guarantee Program. The revised rule will allow for increased participation in the program by financial institutions and other investors and enable the support of more innovative energy technologies in the United States.