In numerous cases, government funding has disappeared in a whirlpool of company bankruptcies and very poor investment results. Among the problem companies are:
Solar:
- Solyndra Solar, $535 million DOE loan, bankrupt
- Evergreen Solar, $5.3 million loan, bankrupt
- Spectra Watt, bankrupt
- Energy Conversion Devices and United Solar Ovonic or UniSolar, bankrupt
- Amonix, laid off employees, losing money, stock held by Warren Buffet
- SunPower, stock price has fallen greatly
- Abound Solar, laid off nearly half of employees, Fitch rated highly speculative investment, DOE loaned it $400 million
- NRG Energy, solar, wind, electric vehicle, stock price less than half of 2008 price, $1.2 billion DOE loan.
- First Solar, stock price less than 10% of 2008 high, fallen badly since early 2011, DOE loans of $5.35 billion, cutting 2,000 workers, closing plant near Berlin, Germany, lost $39.5 million in 2011, Germany and Italy cut subsidies for major on-grid utility scale solar installations.
- Bright Source, withdrew IPO
- Mountain Plaza Inc., truck stop electrification, bankrupt, $10 million loan from state of Wisconsin under Recovery Act
- A123 Systems, batteries, $300 million from Recovery Act, $135 million from state of CA, verge of bankruptcy
- EnerDel and Ener1, Lithium ion batteries, $118.5 million of DOE grant, bankrupt
- Beacon Power, energy storage, $43 million DOE loan, bankrupt
- Fisker Automotive, electric vehicles, made only 40 cars two years late in Finland, only 40 mile range, $7500 tax credit with vehicle purchase
- Tesla Motors, electric vehicles, DOE loans of $465 million, $7500 tax credit with car purchase
- GM Chevy Volt, suspended production, layoffs, failure to meet production goals, $7500 tax credit with purchase
- Bright Automotive, hybrid fleet trucks, bankrupt, claimed DOE told them they were close to winning $450 million loan for 3 years, counted on Obama pledge to have 1 million electric vehicles on the road by 2015
- Nevada Geothermal Power, Harry Reid favorite, $98.5 million DOE loan, $66 million in grants, struggling, auditor says “significant doubt about the company’s ability to continue as a going concern.”
- Olsen's Crop Service and Olsen's Mills Acquisition Co. (bankrupt, $10 million loan)
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