Battery manufacturer Powin files for bankruptcy months after landing $200M loan | TechCrunch

Image for article Battery manufacturer Powin files for bankruptcy months after landing $200M loan | TechCrunch
News Source : TechCrunch

News Summary

  • The Oregon-based company said it has more than $300 million in debt
  • Powin manufactured grid-scale batteries using lithium-iron-phosphate (LFP) cells from China
  • The company laid off nearly 250 employees earlier this month, and just 85 remain, less than a fifth of what it started the year with
Battery manufacturer Powin filed for bankruptcy on Wednesday. The Oregonbased company said it has more than $300 million in debt.The Chapter 11 filing will let the company continue operating while [+1162 chars]

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