BlocPower Shuts Down, Leaving Crowdfunding Investors Facing Losses
BlocPower, a climate tech startup that raised over $3 million from crowdfunding investors, is shutting down and liquidating its assets. Senior creditors are expected to be paid first, leaving little or nothing for unsecured crowdfunding investors. The company had previously attempted a turnaround but ultimately decided on an orderly wind-down. BlocPower had completed projects in several US cities before financial difficulties led to its closure.