Beacon Power Corp. has agreed to sell its flywheel plant in Stephentown, N.Y., in order to repay the U.S. Department of Energy's Loan Programs Office (LPO). The deal took place last week during the second Delaware court hearing in the company's Chapter 11 bankruptcy proceeding. The company filed for bankruptcy on Oct. 30.Beacon Power must sell the plant by Jan. 30, 2012, so that the LPO can recover the $39.1 million loan balance as soon as possible."Our goal was to reach a settlement agreement with the DOE Loan Programs Office, and we have done that," says Bill Capp, president and CEO of Beacon Power. "We will now focus on attracting new capital to reorganize our company."