Another green energy firm touted by Obama bites the dust

[CaféAuLait]

(CBS News) It was number 17 on the White House's 100 Recovery Projects That Are Changing America list. Now, Abound Solar is about to join the taxpayer-supported green energy firms that have filed for bankruptcy.


Abound Solar was approved for a $400 million dollar taxpayer loan guarantee under the same program as did now-bankrupt Solyndra. Abound received about $70 million of the total by last Sept., but failed to meet certain financial milestones and the Energy Department cut off the rest of the loan.



The Department of Energy announced news of Abound's impending bankruptcy in an article on its Website defending solar energy entitled "Solar Manufacturing: to Compete or Not to Compete."

Another green energy firm bites the dust - CBS News Investigates - CBS News


I guess this time it was only 70 million taxpayer dollars lost...

 

[RoadVirus]

Everything the Obama regime touches turns to shit.

 

[flacaltenn]

To do THIS badly --- just isn't possible without TRYING to do badly...

Actually CafeAuLait --- it's what happens when you just toss out the money and don't have a plan..

If the admin TRULY UNDERSTOOD solar PV --- they could have started a consortium to get all those losers to pile together and build on strengths.