Sales fail for batteries aimed at utility efficiency
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August 20, 2017
Raleigh, N.C. (AP) — A startup company is giving up plans to build boxcar-sized batteries that help power companies save energy or shift to wind and solar power.
Alevo Manufacturing Inc. informed state officials Friday that it was immediately shutting down its factory inside a massive, former Philip Morris USA cigarette plant and filing for bankruptcy protection. The company said it was terminating 245 workers Friday and laying off the remaining 45 by the end of September "due to unforeseen business circumstances."
The company had said in 2014 it projected employing up to 2,500 workers by this...
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