Colorado-based Abound Solar is simply the most up-to-date in a long-line of green power companies having gone belly-up after getting a large amount of cash in taxpayer cash.
From businessfew times:
Abound Solar Inc., a U.S. solar energy manufacturer that is offered a $400 million U.S. loan guarantee, will suspend organizations and look for bankruptcy relief because its panels had been too costly to contend.
Abound borrowed about $70 million dealing with the guarantee, the Loveland, Colorado-based company reported nowadays in a statement. It claims to find bankruptcy relief security in Wilmington, Delaware, 2-3 days.
…
“we understand the explanation they moved broke. We warned all of them they would get broke,” [Cliff] Stearns, a Florida Republican [and chairman of this house Energy and Commerce Committee’s means panel], informed reporters today. “The bigger genuine real real question is the reason the management had been undoubtedly after a green-energy demand which companies are going smashed and wasting taxpayer money.”
That’s a very good problem. Inquiring thoughts got to understand.
Iowahawk have been kind sufficient to tweet totally most of the green power organizations getting helping put taxpayers into the purple:
Solyndra. Ener1. Abound Solar. Brightsource. Ecotality. SunPower. Beacon Energy. Solar Trust. A123 Solar. #ObamaGreenEnergyGraveyard
— David Burge (@iowahawkblog) June 28, 2012
LSP Energy. Power Saving Devices. Unisolar. Azure Dynamics. Evergreen Solar. Fisker (pending) #ObamaGreenEnergyGraveyard
— David Burge (@iowahawkblog) June 28, 2012
SprectraWatt. Olsen's Mills. Hill Plaza. EnerDel. Mascoma. #ObamaGreenEnergyGraveyard
— David Burge (@iowahawkblog) June 28, 2012
Oof. That graveyard’s getting rather complete.
Discover more: http://twitchy.com/2012/06/28/another-government-blessed-green-energy-company-bites-the-dust/
