European battery company Northvolt has filed for Chapter 11 ‘reorganisation’ bankruptcy in the US, which it said will allow it to restructure its debt to continue scaling the business.
Delays in product development, high commodity prices and investors pulling out were behind some of the most recent bankruptcies in the ESS battery technology space, which include Nilar, AMTE and Ambri.
Alevo, a US energy storage provider which only started shipping its containerised solutions in January, has filed for Chapter 11 bankruptcy protection.
Aquion Energy, maker of energy storage batteries and whole systems based on a novel electrolyte with a chemical composition similar to saltwater, is back in business.
US battery and energy storage system manufacturer Aquion Energy has declared bankruptcy under Chapter 11 and offloaded 80% of its employees, according to a company release.
