The founder of electric car company Aptera is back with a new company and a new plan to disrupt urban organic farming.
While Fisker is in the spot light for failing to pay back its close to $200 million loan from the DOE, there were a half dozen other alternative car startups that wanted loans from the DOE but were rejected. Was the DOE’s ATVM performance all that bad?
Who’s the startup behind Bill Gates’ recent description of a company he’s involved with that’s making energy storage out of “gravel on ski lifts?” Michael Kanellos guesses it’s Energy Cache, which is developing a solar-powered pump for delivering materials to the top of mountains.
According to local reports, Bright Automotive, which was a spinoff from the not-for-profit think tank Rocky Mountain Institute, and which had been developing a plug-in hybrid car called the IDEA for commercial fleets, plans to close shop.
Do recent struggles dominating the news represent the beginning of the end for green technology? Nah, it looks like business as usual for Silicon Valley. Only one in ten start-ups ever make it, VCs like to say, and failure makes you stronger.
In a followup to my previous post on electric car maker Aptera shutting its doors, I’ve confirmed with the Department of Energy that it did NOT give Aptera a conditional commitment for a loan of $150 million.
Electric car maker Aptera has officially shut its doors after years developing three and four-wheeled electric cars and coming close to receiving a $150 million DOE loan.
Despite Google shutting down its clean power philanthropic initiative, Google still remains committed to clean power in several ways far more important, which have represented the bulk of Google’s work with energy.
In light of the news that Republican Representative Darrell Issa once called for Department of Energy support for now-struggling electric car maker Aptera, I’m resurfacing my essay on the danger of politicians backing high risk startups.
Are there other Solyndras waiting in the wings that could one day lose over a billion in funds to failed green technologies? Well, there are a couple of other green startups that have raised similarly massive private funds and DOE support.