Wednesday, August 11, 2010

ISE Files For Chapter 11

San Diego-based ISE Limited, a developer of energy storage systems and hybrid-electric drive systems, said Tuesday evening that it has filed for Chapter 11 bankruptcy. The firm said it made the filing in the United States Bankruptcy Court for the Southern District of California. The filing came after the firm failed to raise additional capital for the firm. ISE had been backed by Siemens Venture Capital, Macquarie Clean Technology Fund, DTE Energy Ventures, RockPort Capital Partners and NGP Energy Technology Partners.