Thursday, February 21, 2013

Hydrovolts Loses Founder, Faces Liquidation

Seattle-based Hydrovolts, which was developing hydroelectric turbines for the renewable energy market, has run out of capital, and is in the process of restructuring or liquidation, according to multiple reports Wednesday. The firm's co-founder, Burt Hamner, also has left the company's board. Hydrovolts was developing small, hydroelectric turbines which could be used to generate power from everything from wastewater treatment plants, canals, and other areas with a small amount of water flow.