Skip to comments.Another DOE-backed solar panel company collapses
Posted on 06/28/2012 11:25:02 AM PDT by Oldeconomybuyer
Abound Solar, a company that won a $400 million Energy Department (DOE) loan guarantee in 2010 to manufacture advanced solar panels, is closing and filing for bankruptcy, according to DOE.
Abounds collapse follows last years demise of the solar company Solyndra and is sure to feed Republican attacks on White House green energy programs despite support for Abounds loan from several GOP lawmakers ahead of its approval.
The Colorado-based Abound had drawn $70 million of the loan, according to DOE. Abound will close its doors and file for bankruptcy next week, the department said.
(Excerpt) Read more at thehill.com ...
Look-up the bio on Pat Striker and the Bohemian foundation, you will fully understand what happened here. If only we had a free and unbiased pres in this country.
Before they went under, did they have time to make a nice contribution the the DNC?
usually when companies go bacnkrupt their products flood the market and epopel get lower prices - so far no big deals from solar panel folks ...why not?
Becaause they never “produced” anything, maybe?
Because they never “produced” anything, maybe?
.. Republican lawmakers including Mike Pence (R-Ind.), Dan Burton (R-Ind.) and others supported Abound’s loan application.
While the two solar manufacturing companies have gone belly up, and the DOE-backed energy storage company Beacon Power also went through bankruptcy, the department has emphasized that the overall portfolio is performing well.
Looks like things are doing great....