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HomeOff Topics News & Politics › Another of Obama's green energy buddies bankrupt after taking $100M taxpayer's money
09-19-2013 04:15 AM  5 years agoPost 1
dilberteinstein

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texas - USA

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Ecotality, an electric car charger maker, files for bankruptcy

Ecotality Inc , a maker of charging stations for electric cars that won a $99.8 million grant from the U.S. Department of Energy four years ago, has filed for bankruptcy protection and said it plans to auction its assets next month.

The San Francisco-based company is among a growing number of U.S. alternative-energy companies that have struggled or succumbed amid consumer resistance to the high cost and restricted driving range associated with electric vehicles.

Ecotality and five affiliates filed for Chapter 11 protection on Monday night with the U.S. bankruptcy court in Phoenix.

Ecotality makes systems for electric vehicles under the Blink and Minit Charger brands. It had warned on August 12 that a bankruptcy filing was possible, amid disappointing sales and a suspension of payments from the federal government.

Among other U.S. alternative energy companies, green car startup Coda Holdings Inc filed for bankruptcy protection in May after selling just 100 all-electric sedans.

Meanwhile, the Energy Department on Tuesday said it will in October sell a non-performing loan made to another green car startup, Fisker Automotive.

http://www.foxbusiness.com/news/201.../#ixzz2fIBXbI9v

Wow, $99.8 million of free government money and within four years, it's all gone. Sounds like they tried to waste it. Wasting money on fairy tales.

90% of life is "showing up"

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09-20-2013 03:18 PM  5 years agoPost 2
fla heli boy

rrElite Veteran

cape coral, florida

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I saw yesterday that bankrupt Fisker (who we bankrolled), just got approved for another loan from guess who??? Yep....US...once again.
WTF is going on???

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09-24-2013 02:22 PM  5 years agoPost 3
spaceman spiff

rrKey Veteran

Tucson

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WTF is going on???
A very kind and generous person is giving your money away.

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