March 8, 2017 / 4:47 PM / in 5 months

BRIEF-Aquion Energy files voluntary petition under Chapter 11 to target sale of assets

March 8 (Reuters) - Aquion Energy Inc :

* Aquion Energy Inc files voluntary petition under chapter 11 to target a sale of assets

* Immediately preceding chapter 11 filing, company retrenched to a core research and development team by terminating approximately 80% of its personnel

* In coming weeks, Aquion will be working to secure a bidder to purchase substantially all of its operating assets

* Company has been unable to raise growth capital needed to continue operating as a going concern

* In coming weeks, Aquion will be working to secure a bidder to purchase substantially all of its operating assets Source text for Eikon: Further company coverage: [ ]

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