Skip to comments.Abound Solar, Recipient Of $400 Million Federal Loan Guarantee, Halts Production
Posted on 03/01/2012 11:51:20 AM PST by Oldeconomybuyer
The solar shakeout continues as Abound Solar, a Colorado startup that aimed to take on industry leader First Solar with a $400 million federal loan guarantee to build photovoltaic panel factories, halts production and lays off 180 workers.
In addition to the $400 million loan guarantee, Abound, which was founded in 2007, has raised $260 million in venture funding from investors that include Invus Group, Bohemian Companies, DCM, GLG Partners, Technology Partners, BP Alternative Energy and West Hill Investors.
Whether Abound can compete in an increasingly tough solar market remains in question.
(Excerpt) Read more at forbes.com ...
It’s almost as if solar energy isn’t the panacea that Obama and his liberal minions thought it was. what a surprise.
The list, Ping
Let me know if you would like to be on or off the ping list
Same as Jimmy Carter’s Synfuels Corporation in the 1970’s.
When will they ever learn?
...for awarding himself an A- in the "stewardship of taxpayer 'investments'".
Didn't his brother turn that into "Billy Beer"?
All these venture guys jumped in figuring the admin would keep plowing more in.
The end product from consuming Billy Beer is the same as the end product from these Obama-backed 'green' ventures consuming tax dollars.
“Whether Abound can compete in an increasingly tough solar market remains in question.”
It’s really not ‘in question’ if you halt production.
A sample of Billy Beer was sent to the FDA for testing.
The test results: "We regret to inform you that your horse has diabetes."
You peasants shut the hell up and pay your taxes.
What's the grand total that has been wasted on these alternative-energy "investments?"
“Abound Solar, Recipient Of $400 Million Federal Loan Guarantee, Halts Production”
More pay for play ...
Top Obama bundler Pat Stryker owns Bohemian Companies, a major Abound Solar Manufacturing investor. Obama gifted the solar company with a $400 million loan guarantee after the election.
Abound Solars existing investors Invus Group, Bohemian Companies, DCM and Technology Partners participated in the new, $110 million equity round, joined by new investors BP Alternative Energy Ventures and West Hill Companies.
Patricia A. Stryker (born 1956) is the granddaughter of Homer Stryker, surgeon and founder of Stryker Corporation, a medical technology company.
The low-profile heiress has been more active in civic life in recent years, with an interest in liberal causes. She donated $3 million to defeat a 2002 ballot initiative regarding bilingual education in Colorado. In 2004, she gave $20 million to Colorado State University, mostly to benefit its football team.
Stryker bought Sonoma’s Sommer Vineyards in 1999, which she rebuilt, replanted, and rechristened as Stryker Sonoma. It covers 32 acres (129,000 m²) in Alexander Valley, California, producer of classic vinifera varieties Bordeaux and Zinfandel.
In 2006, Stryker gave $500,000 to the Coalition for Progress, a political action committee that donated heavily to support Democratic party candidates in Michigan elections.
In 2008, Stryker gave $87,500 to the Presidential Inaugural Committee for President-Elect Barack Obama.
Stryker donated $3 million to defeat a 2002 ballot initiative regarding bilingual education in Colorado.
Following fraud allegations in November 2007 involving Stryker Corp. overbilling for Medicare in South Dakota, Republicans called on Democratic organizations to return donations they had received from Stryker and her brother, Jon Stryker.
Gang of Four
Stryker, Jared Polis, Tim Gill, and Rutt Bridges are known in Colorado political circles as the “Gang of Four”. Significant political contributions from the four to favored Democratic candidates has played a role in electing a Democratic majority in Colorado’s house and senate.
 Democracy Alliance
According to New York Times reporter Matt Bai, Stryker attended the April 2005 meeting of the Democracy Alliance near Scottsdale, Arizona.
Bohemian Foundation was founded in 2001 by Pat Stryker to continue her family tradition of making the world a better place.
The Sunlight Foundation notes that Bohemian Companies, which was founded by billionaire and Obama bundler Pat Stryker, participated with other companies in the “second institutional equity round of financing” in 2008 for Abound Solar, which recieved $104 million total through that round of financing.
Stryker gave $50,000 to Obama’s inauguration, according to the Center for Responsive Politics, and raised a further $87,000 for the inauguration. Stryker has since donated $35,800 to the 2012 Obama Victory Fund, Sunlight reports.
One year after Bohemian invested in Abound, and a year before the DOE granted a loan guarantee, Stryker visited the White House. “The White House did not confirm that the visitor was the Pat Stryker in question and did not provide details about the meeting,” Sunlight says
Pat Stryker campaign contributions:
Listed below are federal donations of $3,000+ reported to the FEC.
Obama Victory Fund 2012 - $35,800 on 5/5/2011
Colorado Democratic Party - $10,000 on 3/7/2011
America’s Families First Action Fund - $145,000 on 10/28/2010
Democratic Congressional Campaign Committee - $5,000 on 10/20/2010
Colorado Victory 2010 - $7,500 on 10/19/2010
Women Vote! - $75,000 on 10/1/2010
Colorado Democratic Party - $10,000 on 3/15/2010
Democratic National Committee - $10,000 on 5/29/2009
Colorado Democratic Party - $10,000 on 4/30/2009
Franken Recount Fund - $12,300 on 12/1/2008
Campaign Money Watch - $185,000 on 10/2/2008
Democratic Congressional Campaign Committee - $10,000 on 3/31/2007
Colorado Democratic Party - $7,500 on 5/8/2007
Colorado Democratic Party - $7,500 on 5/1/2008
Democratic White House Victory Fund - $5,000 on 6/12/2008
Democratic National Committee - $28,500 on 5/18/2007
Contributions to political organizations reporting to IRS:
America Votes 2006 - $4,000 on 11/2/2010
Democratic Governors Association - $25,000 on 7/13/2010
Democratic Governors Association - $25,000 on 8/24/2009
Democratic Governors Association - $25,000 on 8/19/2008
Democratic Governors Association - $25,000 on 9/11/2007
Citizens for Colorado - $6,000 on 1/17/2007
Citizens for Colorado - $18,000 on 11/3/2006
Citizens for Colorado - $15,000 on 10/30/2006
Coloradans for Life - $5,000 on 10/27/2006
Clear Peak Colorado - $23,000 on 7/21/2006
Coalition for a Better Colorado - $4,630 on 12/7/2005
Coalition for a Better Colorado - $8,954 on 7/18/2005
Citizens for a Safe Denver, Inc. - $10,000 on 4/4/2005
Coalition for a Better Colorado - $28,287 on 12/16/2004
Alliance for Colorado’s Families - $20,000 on 10/28/2004
Coalition for a Better Colorado - $5,000 on 10/19/2004
Alliance for a Better Colorado - $25,000 on 8/27/2004
Coalition for a Better Colorado - $30,000 on 6/29/2004
Secretary of State Project - $25,000 on 12/31/2009
New Democrat Network - Non-Federal - $5,000 on 8/20/2004
Joint Victory Campaign 2004 - $25,000 on 6/29/2004
Liberal group pours millions to sway voters in Colorado - Donors push Obama , ‘progressive’ causes
Washington Times, The (DC) - Tuesday, October 28, 2008
Author: Matthew Cella, THE WASHINGTON TIMES
A secretive coalition of wealthy liberal political donors in Colorado has channeled millions of dollars this year to “progressive” causes and seeks to help turn over the highly contested swing state to Democratic presidential candidate Sen. Barack Obama , records show.
The Colorado Democracy Alliance (CoDA) has been credited with helping Democrats reclaim the governor’s office in 2006 after an eight-year Republican run, bolster their majorities in the state legislature and capture a previously Republican-held U.S. House seat in a state where Democratic registration ranks third behind that of Republicans and the unaffiliated.
Key CoDA benefactors include billionaire PatStryker , heiress to a $6 billion international medical equipment supply company; and millionaire businessmen Tim Gill, a computer software entrepreneur and gay rights activist who created the Quark software program, and Rutt Bridges, a geophysicist and software entrepreneur. They have been listed as members of CoDA’s board of directors and are major contributors.
“It was really done well,” said Jon Caldara, head of the conservative Colorado-based Independence Institute, a nonpartisan, nonprofit public policy research organization. “It’s a blueprint of how a handful of rich guys and unions have given their money to organizations that have particular jobs instead of giving it to candidates
Colorado Democratic scheme called ingenious
The group bolsters progressive candidates almost totally out of the public eye
Colorado’s wealthiest and most influential progressives have devised a successful campaign-funding scheme described as ingenious even by conservative opponents who have seen it secure Democratic statehouse majorities in two consecutive elections.
The umbrella over a cadre of 30-plus loosely affiliated organizations is called the Colorado Democracy Alliance, and at its helm are some of the best-known donors in state and national politics, including millionaire activists Tim Gill and Pat Stryker.
Thanx for the ping maggief !
Problem is there was plenty of solar companies to fit market demand as it is... the money thrown at these companies created extra glut. Like any new industry there will be a shakeout and there will be a place for solar.. a pretty small one until traditional sources of energy escalate greatly in price or sources like solar are able to create greatly new efficenices.
LOL! I’ve drunk Billy Beer (my housemate used to buy that swill), and that’s pretty spot on!
I’ve sone the math on solar. because of the initial expenditures on panels and batteries which both have limited lifespans and diminishing efficiencies over the usable life span, by the time you realize any savings, you’re looking at replacing the most expensive aspects of your setup. Then there’s the need for large amounts of fossil fuels to mine the minerals needed to make the panels and batteries and then to actually make them. look at any third world gold mine to see what you can expect.