Jun 28, 2012

Another solar company bites the dust after $400 million Energy Dept. Loan Guarantee, Goes Bankrupt

Another one bites the dust. Colorado-based thin solar panel manufacturing company Abound Solar on Thursday announced that it will be filing for bankruptcy next week.

The company was awarded a $400 million loan guarantee from the Department of Energy in 2010, but as both the company and the Energy Department have made clear today, it only claimed about $70 million of the total before the guarantee was frozen by the government after Abound failed to hit financial targets.

Read on at: http://idealab.talkingpointsmemo.com/2012/06/abound-solar-recipient-of-70m-energy-dept-loan-guarantee-goes-bankrupt.php