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Debates Forum

Debates Forum

  1. 01 Sep '11 00:10
    Solyndra had recently completed construction of a new solar equipment factory that was built and equipped with funds from the federal loan. The company had spent $527 million of the $535 million from the DOE grant.

    "We had just installed the new tools," Miller said "We were starting to ramp up production."

    Solyndra intends to file a Chapter 11 bankruptcy in a federal court in Delaware next week, said Dave Miller, a company spokesman.

    "We will try to sell the company or reorganize its finances," Miller said.

    Solyndra was founded in 2005 by Chris Gronet, a veteran of Applied Materials who earned his Ph.D. at Stanford University.

    President Barack Obama touted Solyndra as a poster child for clean energy after the company received the federal funds.

    That makes 2 "green energy"producers that have gone into bankruptcy this month.
    Was the timing just bad for the new start-ups ? We had a Korean company back out of a deal to build a solar panel factory in the old Hynix building here too?