{"id":1322,"date":"2017-08-21T18:55:00","date_gmt":"2017-08-21T18:55:00","guid":{"rendered":"https:\/\/athis-consulting.com\/news\/?p=1322"},"modified":"2018-06-18T18:53:41","modified_gmt":"2018-06-18T18:53:41","slug":"battery-maker-alevo-files-for-bankruptcy","status":"publish","type":"post","link":"https:\/\/athis-technologies.com\/news\/market\/2017\/battery-maker-alevo-files-for-bankruptcy\/","title":{"rendered":"Battery maker Alevo files for bankruptcy"},"content":{"rendered":"<p><em>Alevo USA and Alevo Manufacturing filed chapter 11 petitions in the United States Bankruptcy Court for the Middle District of North Carolina on August 18, 2017. Through Bankruptcy Court supervision, Alevo USA and Alevo Manufacturing hope to achieve an orderly liquidation of their assets and maximize value to pay their creditors.<\/em><\/p>\n<p>Despite demonstrating the advantages of its groundbreaking battery technology, Alevo Manufacturing, Inc. has had significant production challenges and thus insufficient revenue to continue operations. The Alevo entities have actively sought new funding sources to finance their operations and growth strategies. Unfortunately, despite best efforts, the funding has not been realized in time to permit continued operations.<\/p>\n<p><a href=\"https:\/\/www.i-micronews.com\/images\/Media\/Power_Electronics_\/News_August_2017\/Alevo.png\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.i-micronews.com\/images\/Media\/Power_Electronics_\/News_August_2017\/Alevo.png\" alt=\"Alevo\" width=\"500\" height=\"126\" \/><\/a><\/p>\n<p><em>\u201cThe chapter 11 filings are a very difficult, but necessary decision\u201d<\/em>, said\u00a0<strong>Peter Heintzelman<\/strong>, chief financial officer of the Alevo entities.\u00a0<em>\u201cThis decision was driven by the formidable challenges of bringing a new technology into commercial production and lacking the financial wherewithal to continue on through repeated manufacturing delays. It is a sad day for our dedicated employees and partners, as well as for the promise of Alevo\u2019s technology.\u201d<\/em><\/p>\n<p>Alevo has long promised its revolutionary lithium-ion battery technology would revolutionize utility-scale energy storage.<\/p>\n<p><a href=\"https:\/\/pv-magazine-usa.com\/2017\/08\/21\/battery-maker-alevo-files-for-bankruptcy-lays-off-290-in-n-c\/\" target=\"_blank\" rel=\"noopener\">Full Article from our colleagues<\/a><\/p>\n<p><em>Source:\u00a0<a href=\"http:\/\/alevo.com\/\">http:\/\/alevo.com\/<\/a>\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alevo USA and Alevo Manufacturing filed chapter 11 petitions in the United States Bankruptcy Court for the Middle District of North Carolina on August 18, 2017. Through Bankruptcy Court supervision, Alevo USA and Alevo Manufacturing hope to achieve an orderly liquidation of their assets and maximize value to pay their creditors. Despite demonstrating the advantages [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":1323,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"amp_status":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[15,13,10],"tags":[72,73],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Battery maker Alevo files for bankruptcy - AthisNews<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/athis-technologies.com\/news\/market\/2017\/battery-maker-alevo-files-for-bankruptcy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Battery maker Alevo files for bankruptcy - AthisNews\" \/>\n<meta property=\"og:description\" content=\"Alevo USA and Alevo Manufacturing filed chapter 11 petitions in the United States Bankruptcy Court for the Middle District of North Carolina on August 18, 2017. 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