A solar company that got a multi-million-dollar grant from the Department of Energy earlier this year announced Wednesday that it will file for Chapter 11 bankruptcy protection, making it the second taxpayer-backed green energy company to file for bankruptcy this week. Satcon Technology Corp. announced the decision in a Wednesday …
It is no secret that President Obama’s and green energy supporters’ (from both parties) foray into venture capitalism has not gone well. But the extent of its failure has been largely ignored by the press. Sure, single instances garner attention as they happen, but they ignore past failures in order …
During last night’s debate between President Obama and former Governor Mitt Romney, Heritage’s policy experts were live-blogging their analysis of the ideas discussed. Below are some of the highlights of our experts’ reactions to the major points made. Join us today at 11 a.m. ET for a Google hangout as …
Bankrupt solar module manufacturer Abound Solar, recipient of a Department of Energy loan guarantee of $400 million, and the subject of an official investigation in its home state of Colorado, now faces additional scrutiny in the form of a document probe from the House Energy and Commerce Committee. The letter …
Bankrupt DOE Loan Recipient Abound Solar Under Investigation, Panels Suffered “Catastrophic Failure”
Abound Solar, a Department of Energy $400 million loan guarantee recipient that went bankrupt earlier this year, is under investigation by officials in Weld County, Colorado. The company, which received nearly $70 million in loan funding before payments were cut off by DOE in 2011, also received a $100,000 tax …
Abound Solar’s June bankruptcy could leave the residents of Weld County, CO, on the hook if court proceedings do not deliver the projected business personal property tax receipts anticipated before the company’s demise. The Greeley Tribune reports: Abound owes more than $950,000 in property taxes this year and will owe …
After months of financial turmoil, an Energy Department-backed lithium ion battery company has filed for Chapter 11 bankruptcy protection. The company, Ener1, received a $118 million grant from DOE in 2010 as part of the president’s stimulus package. The money, which went to Ener1 subsidiary EnerDel, aimed to promote renewable …
When the government-backed Solyndra filed for Chapter 11 bankruptcy, policymakers supportive of the loan-guarantee program said variations of the following: “If this were a venture capital firm and only one out of 10 projects failed, they would be a great success.” That would be fine if it were private money, …
