Here are some excerpts;
Despite glowing press clippings in which the CEO of Colorado-based Abound Solar claimed seven months ago that his company was the “anti-Solyndra,” the green-energy firm has filed for chapter 7 bankruptcy liquidation. It is terminating all 125 workers at its Loveland, Colo. headquarters, and is blaming China for its failure.
The U.S. Department of Energy awarded Abound Solar a $400 million loan guarantee in December 2010, funds that the then-three-year-old startup said it would use to compete with solar panel industry leader First Solar.....
.....In May, the Colorado Watchdog blog published an internal Abound Solar email revealing that in November 2010, the company dispatched an engineering technician to remove an entire rooftop of defective solar panels from the investment headquarters of wealthy Democratic benefactor Pat Stryker. Bohemian Companies, Stryker’s investment firm, was among the early investors that brought Abound approximately $300 million in startup capital.
Read more: http://dailycaller.com/2012/07/03/bankrupt-colo-solar-firm-sticks-taxpayers-for-68-million-doomed-by-poor-quality/#ixzz1zaKcmcPn
Mr. Bob is a contributing author at the People's Press Collective. Your source for Colorado Politics