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Two More Failed Firms in Storage: Axion Power and Camborne Energy Storage
Green Tech Media: This August brought the collapse of two emblematic energy storage firms.
In the U.S., lead-carbon battery maker Axion Power International filed for Chapter 7 bankruptcy. In the U.K., grid-scale storage system developer Camborne Energy Storage went into administration.
Both firms ran aground after failing to secure cash to fund operations. Axion, of New Castle, Pennsylvania, had $6.6 million in debts and only around $47,000 in assets, according to local press reports.
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