ReVolt Technology files for bankruptcy

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Wednesday, November 14, 2012

Portland-based ReVolt Technology, which received support from taxpayers, officially filed for bankruptcy protection in Norway where the parent company is based.

The company had been developing a zinc-air battery technology that it said could deliver twice the energy of conventional rechargeable battery technologies, such as lithium-ion.

ReVolt had not taken out roughly $2 million of its loan from the state and $1 million of its loan from the Portland Development Commission, meaning Oregon government entities are owed $3.5 million.

Read more at Sustainable Business Oregon.

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