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