Aspiring Battery Innovator and Developer Alevo Files for Chapter 11 Bankruptcy

By [email protected] Alevo has joined the ranks of bankrupt battery manufacturers.

The company set up shop in a spacious former Philip Morris cigarette factory outside of Charlotte, North Carolina, to produce utility-scale GridBank battery systems. Persistent production challenges led to “insufficient revenue,” the company said in a statement.

Alevo finished its first commercial unit in January for deployment in Hagerstown, Maryland. It originally had planned to produce 200 megawatts by the end of 2015.

“The Alevo entities have actively sought new funding sources to finance their operations and growth strategies,” the statement said. “Unfortunately, despite best efforts, the funding has not been realized in time

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