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Beacon Power Corp., a maker of energy- storing flywheels, completed 96 forms filling seven three-ring binders in its effort to get a U.S.-backed loan.
The Tyngsboro, Massachusetts, company with $68,000 in revenue last year says it spent more than $1 million pursuing federal guarantees for $42 million in financing to install its flywheels in New York state. After three years, Beacon got an answer last week: application approved.
Chrysler LLC has found an international partner in Fiat SpA but the auto maker isn't out of the woods, mainly because the deal is contingent on Chrysler getting $3 billion in additional government loans, said people familiar with the pact.
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