Grid battery startup Aquion Energy announced on Tuesday that it plans to build a factory in Pennsylvania and begin production of its sodium batteries starting in 2013.
How likely is it that electric car company Fisker Automotive will be able to draw down on the remaining $339 million of its Department of Energy loan? According to one analyst, not likely.
The White House sent its proposed budget for 2013 to Congress on Monday, and the plan calls for boosting funding for clean power and energy efficiency, seeks to eliminate fossil fuel subsidies and doesn’t seek additional funds for the loan guarantee program.
Electric vehicle maker Fisker Automotive announced on Monday that it has halted work on its second electric car called Project Nina at its factory in Delaware, has laid off 26 workers, and is attempting to renegotiate the terms of its loan with the U.S. government.
Some good news and bad news for the beleaguered battery maker Ener1. On Thursday, the company announced it’s filing for Chapter 11 in New York, but has done so under a pre-arranged restructuring plan that includes commitments for up to $81 million from investors.
Private equity firm Silver Lake’s first foray into energy and cleantech investing is gonna be a big one. According to a filing, Silver Lake Kraftwerk is raising a $1.25 billion fund and has closed a little over $200 million of it.
Beacon Power, the flywheel maker that filed for bankruptcy last month after winning a $43 million loan guarantee from the Department of Energy, announced on Saturday that it plans to sell its 20 MW flywheel plant in Stephentown, New York, to pay back the DOE loan.
Electric vehicle startup Fisker Automotive has dramatically scaled back production plans of its first car, the Karma, in the fourth quarter of 2011, and it won’t ramp up to full production until the second quarter of 2012.
It’s been over a month since the Solyndra news came out, but it’s still dominating. Because it just won’t go away, here’s my top five list of projects that the DOE also backed with loan guarantees and that are showing some early signs of success.
The DOE’s new No. 2, Richard Kauffman, started his job on the Tuesday after the Solyndra announcement. He sees Solyndra as an example of cheap Chinese financing, which is behind the decline in Chinese solar cells, compared to the high costs of financing in the U.S.