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    Another Green Failure: A123 Files for Bankruptcy

    A123, recipient of a $249 million Department of Energy manufacturing grant, warned of impending debt default and cash problems that forced the company to seek bankruptcy protection. With 14 straight quarterly losses–nearly $83 million in 2nd Quarter 2012 and $125 million in the previous quarter, on top of $258 million … More

    House Committee Launches Document Probe Into DOE, Abound Solar

    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 … More

    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 … More

    More Obama Donors Benefit From USDA's Latest Loan Guarantee

    The U.S. Department of Agriculture has awarded a large loan guarantee to a biofuel company whose investors donated handsome sums to the Obama campaign. Some of them have even visited the White House to discuss federal job-creation efforts. Taxpayers will guarantee a $105 million loan for Fulcrum Sierra BioFuels, a … More

    China's Wanxiang Poised to Take 80% Stake in DOE Grant Recipient A123

    A123, the U.S. manufacturer of green-tech batteries that received millions in government aid, today announced a “memorandum of understanding” between it and Chinese auto giant Wanxiang. It totals up to $450 million in a bailout of debt purchasing and other cash infusions that would grant Wanxiang 80 percent controlling interest … More

    Abound Solar: Doomed to Fail Because of Election-Year Politics, Investor Says

    One of Abound Solar’s venture capital investors blamed election-year political games for the collapse of the Colorado-based thin film solar panel manufacturer, according to a new interview. John Hill, discussing the demise of a company and technology he invested in both financially and emotionally, acknowledged that the company’s troubles could … More

    DOE Sent Millions to Solar Firm That Lacked 'Economically Viable' Product

    Amonix, the solar panel manufacturer whose Las Vegas plant ceased operations in May, managed to secure millions in federal grants and potential tax breaks even though its product had quality problems and was never really economically viable, according to sources. The politically connected company had the backing of Senate Majority … More

    Interior Secretary Salazar Still Bullish on Solar Despite High-Profile Setbacks

    At a Friday visit to the Golden, Colorado, campus of the National Renewable Energy Laboratory, Interior Secretary Ken Salazar characterized the bankruptcies and delays that have plagued the solar manufacturing sector as “just minor (and expected) blips for the industry.” Salazar told Denver’s alt-weekly Westword, “Any time you’re dealing with an … More

    DOE Sent Confidential Information to Loan Guarantee Applicant

    Emails uncovered by congressional investigators show that a top Energy Department adviser sent confidential government information to representatives of a company vying for federal financing. The company, which is tied to multiple politically connected green-energy firms, eventually received a $1.4 billion partial loan guarantee from DOE. “[P]lease do not sent … More

    Loan Guarantee Report Neglects Central Question: Why Loan Guarantees?

    The White House released its much-awaited Report of the Independent Consultant’s Review with Respect to the Department of Energy’s Loan and Loan Guarantee Portfolio. Unfortunately, the report’s conclusions were doomed from the beginning, because it fails to ask an important, fundamental question: Why do we have the loan guarantee program … More