An Indiana-based energy storage company that received a $118.5 million stimulus-law grant from the Energy Department filed for bankruptcy Thursday.The "Partnership" doesn't seem to be working out so well, does it?
Ener1 is asking a federal bankruptcy court in New York to approve a plan to restructure the company’s debt and infuse $81 million in equity funding.
…
The Energy Department, in 2009, approved a $118.5 million stimulus-law grant for EnerDel, a subsidiary of the company that develops lithium-ion batteries used in electric vehicles. The grant was part of a broader program aimed at promoting the development of electric-vehicle battery technology.
President Obama touted the program in his State of the Union address this year.
“In three years, our partnership with the private sector has already positioned America to be the world’s leading manufacturer of high-tech batteries,” he said.
Thursday, January 26, 2012
The Green Kiss Of Death
Wow, that was quick:
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment