Another Obama-Funded “Green” Energy Company Goes Belly Up, Ener1 Files For Chapter 11 Bankruptcy After Receiving $118 Million DOE Grant…
Via The Foundry:
The company, Ener1, received a $118 million grant from DOE in 2010 as part of the president’s stimulus package. The money, which went to Ener1 subsidiary EnerDel, aimed to promote renewable energy storage battery technology for electrical grid use.
But despite generous federal support for the company, Ener1 was racked by problems last year. In October, NASDAQ delisted the company due to non-compliance with Securities and Exchange Commission filing requirements. A month later, the company’s president, chief executive, and top financial officer were fired.
On Thursday, Ener1 announced it will initiate a pre-packaged Chapter 11 bankruptcy plan as part of an agreement to restructure the company’s debt obligations.
Posted by ZIP on Thursday, January 26, 2012, at 10:53 am | 
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Another money laundering operation for campaign donations.
Another failed ‘green’ energy boondoggle. I expect the news of said company’s executives being bundlers for the obama campaign to follow soon.
How many jobs were lost on this waste of cash? Much like Romney’s cash, why doesn’t the press speculate on what this 100+ million could have bought?
Still and all, you just can’t deny it- this is:
winning the future, the soetero way!
He has changed this nation. He has succeeded. So now what? Are we ready to bring it back? I hope so, but the candidates on the campaign trail…are quite sad.
Green energy the biggist scientific rip-off since Piltdown man
Is there a list of these failed ‘Green’ companies that the American people were forced to “invest” in?
Dapandico beat me to it.^^^^^^^^
Its the new economy. If folks want to make some money come up with some green energy shell game. Californians blather openly about this with impunity.
Its the new capitalism. Open a wound on the beast but dont wake it.
He’s paying off those liberals who support him. We can’t afford his base of support period.
Dapandico nailed it.
http://www.youtube.com/watch?v=TJ8DwarED1A&feature=youtu.be
Vice President Biden’s visit to Ener1′s manufacturing facility in Indiana
I will also be happy when that damn little nazi logo of his goes away with him.
Wow, this boy makes my New Deal failures look like chump change.