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Keyword: solyndra

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  • ANOTHER ONE: EV Start-Up Fisker Exploring Bankruptcy

    03/14/2024 11:26:30 AM PDT · by george76 · 21 replies
    Gateway Pundit ^ | Mar. 14, 2024 | Cristina Laila
    Electric vehicle start-up Fisker is exploring bankruptcy, The Wall Street Journal reported this week. Fisker’s stock plunged this week as investors worry about the company’s ability to survive amid a cash crunch. The auto company also said it would slash 15% of its workforce. The Wall Street Journal reported: Electric-vehicle startup Fisker FSR -55.88%decrease; red down pointing triangle has hired restructuring advisers to assist with a possible bankruptcy filing, according to people familiar with the matter. Fisker, which recently warned that it risked running out of cash this year, hired financial adviser FTI Consulting and the law firm Davis Polk...
  • Maine’s public schools purchased taxpayer-subsidized electric buses but say they are defective

    02/23/2024 9:05:34 AM PST · by george76 · 39 replies
    Just the News ^ | February 23, 2024 | Kevin Killough
    Maine’s Department of Education is reportedly urging school districts to stop using taxpayer-subsidized electric school buses that were purchased within the last year. The districts reported problems with the new buses, which were supplied by Canada-based Lion Electric Co., last fall ... The windshields on the buses would leak whenever it rained, as the glass didn’t appear to be securely in place. concerns about mixing electricity and water from the leaking windshields led them to stop driving some of the buses. The buses, which cost about $345,000 each, were also sold with misaligned or incorrect lettering on the sides, and...
  • Electric buses are sitting unused in cities across the US; here's why

    01/29/2024 10:42:10 AM PST · by george76 · 52 replies
    FOX Business ^ | January 29, 2024 | Breck Dumas
    Cities coast-to-coast grappling with broken-down e-buses that cannot be fixed .. Between the federal government, states and municipalities, untold billions in taxpayer dollars have been spent adding electric buses to transit fleets across the U.S. in an effort to reduce carbon emissions. However, cities from coast-to-coast are grappling with broken-down e-buses that cannot be fixed, are too expensive to fix, or they have scrapped their electric fleets altogether. Officials in Asheville, North Carolina, recently expressed frustration that three of the five e-buses the city purchased for millions in 2018 are now sitting idle due to a combination of software issues,...
  • Biden’s Energy Loan Czar Was a Major Investor in a Near-Bankrupt Energy Company. That Company Is Set To Receive $1.5 Billion From His Office

    01/05/2024 9:51:46 PM PST · by george76 · 8 replies
    Washington Free Beacon ^ | January 5, 2024 | Alana Goodman
    Biden energy loan czar Jigar Shah was a major investor in a struggling green energy company that is in advanced talks to receive a $1.5 billion loan from his office. The Department of Energy’s loan office, where Shah serves as director, is working to fast-track the funding to Plug Power, a hydrogen fuel company on the brink of bankruptcy. But the ties between Plug Power and Shah could add to concerns from lawmakers about conflicts of interest in the federal loan program. Securities and Exchange Commission records detail a long-standing financial relationship between Plug Power and Generate Capital, an investment...
  • The Biden Administration’s Electric Vehicle Subsidies Are Becoming Another Solyndra

    11/26/2023 11:04:55 AM PST · by Signalman · 23 replies
    The Federalist ^ | 11/24/2023 | Helen Raleigh
    Energy Secretary Jennifer Granholm made $1.6 million from an electric car company the Biden administration boosted that just went bankrupt. Proterra, an electric bus and battery company that President Joe Biden touted as a success of his green energy initiative, filed for bankruptcy in August. Last week, it finally sold its embattled battery business at a rock-bottom price as part of the bankruptcy proceeding. The rise and fall of Proterra demonstrates once again that politicians should refrain from betting taxpayers’ money on business ventures to advance their political agenda. According to the Wall Street Journal, Proterra has sold only 550...
  • Biden-Backed Battery Firm Plunges After Pausing Construction

    10/23/2023 6:01:29 PM PDT · by 11th_VA · 16 replies
    https://finance.yahoo.com ^ | October 23, 2023 | Joe Deaux and Ari Natter
    - Li-Cycle Holdings Corp., which is set to receive significant backing from the Biden administration, saw its share price slashed nearly in half after announcing it would pause construction on a first-of-its-kind lithium-ion-battery recycling plant. The Toronto company said it would halt work on its Rochester Hub pending completion of a strategic review, including scope and budget. Li-Cycle said it is facing escalating construction costs that exceed prior guidance and is working closely with the US Energy Department concerning its offer of a $375 million loan commitment. Li-Cycle is one of the many companies vying to help the US meet...
  • CEO of Bankrupt Electric Vehicle Company Still on Top White House Advisory Council.

    10/16/2023 2:47:15 AM PDT · by Carriage Hill · 18 replies
    Fox News ^ | 10.16.2023 | Thomas Catenacci
    Gareth Joyce, the CEO and a board member of California-based electric bus maker Proterra, continues to serve on a top White House council advising President Biden on trade policy even after his company filed for bankruptcy.
  • Electric Bus Company Biden Energy Secretary Once Had Stake In Goes Belly Up

    08/08/2023 6:06:47 AM PDT · by Red Badger · 22 replies
    Daily Caller ^ | August 07, 2023 7:58 PM ET | NICK POPE
    Proterra, the electric bus company at the center of an apparent conflict of interest involving Energy Secretary Jennifer Granholm, has filed for bankruptcy, Reuters reported Monday evening. Granholm drew immense scrutiny when it was revealed that she maintained her financial positions in the firm, for which she used to sit on the board of directors, after she assumed her post as the leader of the Department of Energy (DOE) and began to direct policies which could have favored her own financial interests. Granholm eventually closed her position in the firm late in May 2021, and netted capital gains amounting to...
  • The first generation of solar panels will wear out. A recycling industry is taking shape

    08/01/2023 12:42:55 PM PDT · by Olog-hai · 27 replies
    Associated Press ^ | August 1, 2023 | Isabelle O’Malley
    Sunlight beats down on a graveyard for dead solar panels in Yuma, Arizona, hundreds stacked in neat piles, waiting for their next life. The great majority of worn and damaged panels are still dumped in landfills. But with more and more piling up, many people know that needs to change. In this desert city where Arizona, California, Sonora and Baja California meet, North America’s first utility-scale solar panel recycling plant has opened to address what founders of We Recycle Solar call a “tsunami” of solar waste. Plans to address climate change rely on massively scaling up clean, solar electricity. The...
  • Taxpayers Shelled Out Millions To Boost Electric Vehicle Maker That Just Went Belly Up

    06/28/2023 3:10:15 AM PDT · by george76 · 61 replies
    Daily Caller News Foundation ^ | June 27, 2023 | Will Kessler
    Electric Vehicle maker Lordstown Motors Corp. (LMC) announced it was filing for Chapter 11 bankruptcy Tuesday despite receiving millions in taxpayer funding through tax breaks and grants. LMC received $4.5 million from JobsOhio, a private nonprofit that collects funds through a government-mandated monopoly on spirituous liquor sales, according to Cleveland.com, and $20 million in tax credits to be paid out over 15 years by the Ohio Tax Credit Authority, according to Business Journal Daily. LMC also received a $40 million loan from the previous owner of the plant, General Motors, who received $60 million in subsidies from the state of...
  • Solar industry facing bankruptcies, leaving many with roof panels that don't work

    06/16/2023 4:53:06 PM PDT · by ChicagoConservative27 · 48 replies
    Cbsnews ^ | 06/14/2023 | BY KRISTINE LAZAR
    The solar industry in California has experienced several high-profile bankruptcies including one of its largest producers, Petersen Dean. Now, another local solar company has shuttered, leaving homeowners with unfinished systems on roofs that aren't producing any power, not saving money on utility bills, and often there's still the financing of the equipment and installation that the customer is responsible for.
  • Pa. to get $6 million in grants for climate change planning from the Environmental Protection Agency

    04/18/2023 4:27:26 AM PDT · by Oldeconomybuyer · 16 replies
    NPR Local ^ | April 18, 2023 | By Rachel McDevitt
    The federal government is giving Pennsylvania a down payment to plan how to best adapt to and mitigate climate change locally. In Harrisburg on Friday, state and federal officials said Pennsylvania will get about $6 million to create priority climate action plans. The commonwealth will receive up to a $3 million Climate Pollution Reduction Grant through the program set up by the Inflation Reduction Act. The resulting plans can include things like installing air quality monitoring systems, plugging old oil and gas wells, or converting school bus fleets to electric vehicles. The plans will make the state eligible for grants...
  • Facing brutal climate math, US bets billions on direct air capture

    04/18/2023 4:00:11 AM PDT · by Oldeconomybuyer · 74 replies
    Reuters via MSN ^ | April 18, 2023 | By Susanna Twidale, Valerie Volcovici, Simon Jessop and Peter Henderson
    (Reuters) - The world is failing to cut carbon emissions fast enough to avoid disastrous climate change, a dawning truth that is giving life to a technology that for years has been marginal – pulling carbon dioxide from the air. Leading the charge, the U.S. government has offered $3.5 billion in grants to build the factories that will capture and permanently store the gas - the largest such effort globally to help halt climate change through Direct Air Capture (DAC) and expanded a tax credit to $180/tonne to bolster the burgeoning technology. The sums involved dwarf funding available in other...
  • Did ESG Help Sink SVB?

    03/18/2023 6:55:04 PM PDT · by george76 · 9 replies
    WSJ Opinion ^ | March 16, 2023 | Kimberley A. Strassel
    One entrepreneur says the bank was offering ‘basically subprime business loans.’ ... If government funds it, they will come. That’s an overlooked story line in the collapse of Silicon Valley Bank. If Washington wants to point fingers, it should aim the biggest digit at itself. ... We serve those creating positive environmental change,” SVB’s website brags, noting that the bank worked with some 1,550 companies in the “climate technology and sustainability sector.” Most of these companies weren’t filling some vital market need. Rather .. SVB was beloved for its willingness to offer “banking services to startups that often weren’t profitable,...
  • What Happened to the Solyndra Records?

    03/16/2023 2:34:40 AM PDT · by Mr. K · 13 replies
    FreeRepublic ^ | 3/16/2023 | Mr.K
    When Obama was 'President' he gave a half a billion dollars to startup energy company Solyndra. They created the company, cleared a location, constructed a building, installed factory equipment, purchased inventory, hired workers, and went bankrupt- all within one year. Within 2 days of the bankruptcy announcement, the FBI swooped in and grabbed all the financial records. Instead of returning inventory to suppliers, they bulldozed it. And then it disappeared from history. No financial accounting was ever made, no Congressional hearings, no one was investigated... It all went down the memory hole.
  • Biden budget includes $24 billion for conservation and protecting communities from climate disasters

    03/09/2023 1:09:39 PM PST · by Oldeconomybuyer · 10 replies
    CNBC ^ | March 9, 2023 | by Emma Newburger
    President Joe Biden’s budget proposal for 2024 includes billions of dollars spread across federal agencies to combat climate change, with a bulk of the investment going toward boosting conservation and disaster resilience, cutting pollution and advancing clean energy technologies. Some of Biden’s spending areas on climate include: $24 billion for climate resilience and conservation $16.5 billion for climate science and clean energy innovation $6.5 billion for energy storage and transmission projects $4.5 billion for jobs building clean energy infrastructure $3 billion for advancing adaptation finance $1.8 billion for environmental justice initiatives $1.2 billion for the Energy Department’s industrial decarbonization activities...
  • Biden Administration Ready to Unleash a $27 Billion Green Slush Fund

    02/12/2023 7:50:44 AM PST · by george76 · 37 replies
    Mish Talk ^ | FEB 10, 2023 | Mish
    Biden slush fund money is now looking for a home. A battle is on over who gets to waste it.. Biden’s $27 Billion Clean Energy Catalyzer Slush Fund Competition is stiff over who gets first access to Biden’s $27 Billion Clean Energy Catalyzer slush fund. The US government is getting ready to unleash $27 billion to fund projects in disadvantaged communities that cut greenhouse gas emissions and boost clean energy. The cash infusion from last year’s sweeping climate and tax law is meant to drive the deployment of solar panels, heat pumps and electric vehicles in underserved places around the...
  • Massive green energy company reports nearly $1 billion in losses, calls for 'further governmental action'(Germany)

    02/05/2023 6:27:06 AM PST · by dynachrome · 14 replies
    Fox News ^ | 2-2-23 | Thomas Catenacci
    Global green energy company Siemens Gamesa reported Thursday that it had lost a staggering $967 million during the three-month period from between October to December. The Germany-based company, which dubs itself as "the global leader in offshore power generation," noted the wind industry has faced various unfavorable pressures leading to negative growth in recent months and years, in its earnings report for the first quarter of fiscal year 2023 released Thursday morning. The company added that governments would need to further assist the industry to ensure future positive growth. "The negative development in our service business underscores that we have...
  • Wind-Power Makers Suffer Huge Losses, Want To Abandon Major Project

    02/06/2023 9:14:30 AM PST · by SeekAndFind · 34 replies
    American Thinker ^ | 02/06/2023 | Thomas Lifson
    The greenies’ dream of “clean” (except for millions of dead birds) energy from wind farms is dying in the face of the poor economics (even with tax subsidies) and unreliable technology. The big players in constructing wind turbines are facing massive losses and write-downs and cancelling big offshore wind projects. Brace yourself for demands for even more subsides to the failing industry.The green energy subsidiary of German electrical equipment giant Siemens just reported Thursday that it lost nearly a billion dollars in the last quarter. Via Fox News (Hat tip: Beege Welborn, Hot Air):Global green energy company Siemens Gamesa reported...
  • U.S. Energy Department set to loan GM battery joint venture $2.5 bln

    07/25/2022 12:44:36 PM PDT · by Oldeconomybuyer · 38 replies
    Reuters via Nasdaq ^ | July 25, 2022 | By David Shepardson
    WASHINGTON, July 25 (Reuters) - The U.S. Energy Department on Monday announced it intends to loan a joint venture of General Motors and LG Energy Solution $2.5 billion to help finance construction of new lithium-ion battery cell manufacturing facilities. The conditional commitment for the loan to Ultium Cells LLC for facilities in Ohio, Tennessee, and Michigan is expected to close in the coming months and comes from the government's Advanced Technology Vehicles Manufacturing (ATVM) loan program, which has not funded a new loan since 2010. The plan, first reported by Reuters, would mark the Energy Department's first loan exclusively for...