Another Green Energy Firm Awarded Stimulus Funds in Trouble

Tuesday, 01 Nov 2011 11:40 AM

By Jim Meyers

  Comment  |
   Contact Us  |
|  A   A  
  Copy Shortlink
Another green energy company awarded millions in federal stimulus dollars is in financial trouble and is being monitored by the Energy Department.
New York-based Ener1, a manufacturer of advanced batteries for use in electric vehicles, received a $118.5 million grant to expand its operations.

Vice President Joe Biden visited the company in January to promote the administration’s goal of putting a million advanced vehicles on the road by 2015, Politico reported.
NASDAQ pulled the company from trading on Friday for failing to file its most recent quarterly report on time, and Energy Department spokesman Damien LaVera said on Monday that the
DOE “is closely monitoring the status of the company.”
Solar energy firm Solyndra received $528 million in federal loan guarantees before declaring bankruptcy in September.

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact Us  |
  Copy Shortlink
Send me more news as it happens.
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved