Government-funded battery maker files for bankruptcy (Another "Clean Energy" company down the tubes)

nbc ^ | 10/16/2012 | Deepa Seetharaman and Ayesha Rascoe / reuters

[tobyhill]

A123 Systems, which had received a $249 million grant from the U.S. government, filed for Chapter 11 bankruptcy protection on Tuesday, giving Republicans fresh ammunition to attack the Obama administration's subsidies for green energy.

The filing came after the lithium-ion battery maker's $465 million rescue deal with Chinese auto parts supplier Wanxiang Group collapsed, hobbled by "unanticipated and significant challenges," A123 said on its website. A123 has agreed to sell its automotive operations, including two factories in Michigan, for $125 million to Johnson Controls Inc, a leading battery supplier and another recipient of federal green subsidies.

[tobyhill]

This is a company that supplied batteries for GM in Michigan and Ohio. For those who think GM has a positive business model and is not heading toward another bankruptcy, I have a bridge to sell.

[TigerClaws]

Obama’s Energy policy, $4.3 Billion Invested ROI $0.00   (Posted on 10/20/12 at 11:56 p.m.)
The complete list of faltering or bankrupt green-energy companies:
1. Evergreen Solar ($24 million)*
2. SpectraWatt ($500,000)*
3. Solyndra ($535 million)*
4. Beacon Power ($69 million)*
5. AES’s subsidiary Eastern Energy ($17.1 million)
6. Nevada Geothermal ($98.5 million)
7. SunPower ($1.5 billion)
8. First Solar ($1.46 billion)
9. Babcock and Brown ($178 million)...