January 26th, 2012
06:17 PM ET
11 years ago
Battery maker Ener1, a DOE grant recipient, goes bankrupt
New York (CNNMoney) - Electric car battery maker Ener1 filed for bankruptcy Thursday, three years after receiving a $118.5 million grant from the U.S. government.
Ener1, which makes a variety of energy storage devices under different subsidiaries, is the parent company of EnerDel, the car battery division that received the government grant to help build a manufacturing plant in Indianapolis.
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November 8, 2012. Accountability will be the great message.
dig deep and send them to jail...period. no suing nothing...
I think this White House trying the to best to save energy but the problem is we not ready to change the light bulb
Republicans doesn’t want move forward
Hey goofus hate to burst your bubble, but obamas gonna win by a landslide.
This story really enlightens how Obama and his staff really do not have a fundamental understanding of the current landscape of alternative energy. Why not fund things that are already financially feasible (nuclear) to improve even more. Nuclear has already proved to be one of the most efficient sources of energy in the free market. The only barrier to entry is a huge up-front cost on a nuclear power plant, so why not increase *loans* to companies interested. They will get paid back (history has proven this) and we will have clean energy...
This is a major scandal. Subsidizing the oil industry to the tune of $4 billion a year isn't.
Welcome to 21st century American politics.
Just another Solyndra! Liberal politicians would starve to death if they were forced to make their livings in the Private Sector like the rest of us! Vote Romney 2012!
Like Romney tells us you win some and you lose some.
Brian
This story really enlightens how Obama and his staff really do not have a fundamental understanding of the current landscape of alternative energy. Why not fund things that are already financially feasible (nuclear) to improve even more.
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I agree with you. But batteries and solar panels and windmills are not strategic or economic considerations for the Obama Administration. No, they are much more important than that. They are POLITICAL plays. In the Obama Administration, politics trumps everything. He is a political hack.
Obama wastes more tax payer dollars.
Data Diven. Oil is what ur contry and the world demands right now. I do agree alternatives will need t be developed, but right now oil is getting us by. Your enegy is misguided because we can also develop new safer ways to get oil.
Do your research people, this company, and grant, was supported by Dems AND REPUBLICANS. It was endorsed by R-Gov. Mitch Daniels among others. And only half of the $118mil was given by the govt, the other half was matched by private donors. And even though they are filing for bankrupcy, they are not shuttng down. So ridiculous how people jump to conclusions. No wonder our country's education levels are so low.
Once again, we waste $4 billion in tax subsidies for big oil, and the right wingnuts think that is OK.
Wire Palladin, S. F.
Once again, we waste $4 billion in tax subsidies for big oil, and the right wingnuts think that is OK.
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Actually, the Republicans proposed eliminating this as part of their Supercommittee Federal spending cut negotiations last year and the Democrats did not accept. They wanted more taxes. Their greed took over and look where it got them. I think they would take a do-over if they could get one.
@easydoesit,
That's fine, but why are subsidizing an industry that doesn't need our tax dollars? If oil is what the world wants, then let the oil companies try to struggle by on profits alone.
Free market economy, and all that.
win some lose some ROMNEY
Just obama paying his bundlers with taxpayer dollars.
The working American workers are paying for obama's campaign expenses, paying for bad decisions by obama, paying the expenses of the entitlement crowd, and anything obama can think of to buy votes. And he says he is the only that thinks about the working middleclass.
He should quit helping so much and let us pay some of our own bills.
Brian
Why not fund things that are already financially feasible (nuclear) to improve even more.
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Seriously? Did you know that the single largest default of a publicly-held bond in US history was a nuclear plant? That not one single new nuclear plant has been built in the last 30 years because its not financially viable? You conveniently omit the tremendous long-term cost of waste storage – a problem we still havent been able to work out, and now even the temporary waste disposal site in NV has been shot down. Nuclear (as a total package) is the single worst source of power for the US in terms of financial responsibility.
You may be comfortable with willful ignorance, but please dont spread it around.