Here is another obit of a solar startup: Abound Solar, a thin film startup which secured a $400 million federal loan guarantee to expand production, is shutting down and filing for bankruptcy, the DOE said Thursday.
There is no escaping the dark spell cast by Solyndra’s bankruptcy in cleantech discussions these days. At two cleantech conferences in San Francisco this week, speakers gave their takes on the impact of the Solyndra controversy, from money flows to public perception.
Is the clean power industry not doing enough to win political support in the nation’s capital? While Solyndra has gotten flack for its significant lobbying efforts, the reality is that the industry should do more, not less.
On Friday, the DOE announced the closing of three loan guarantees, but also said solar installer SolarCity won’t be securing a loan guarantee for a military solar housing project. SolarCity said they lost the loan guarantee partly because of an investigation into the Solyndra loan.
Amidst intense scrutiny of the Department of Energy’s loan guarantee program via the Solyndra scandal, September has still emerged as critical for a series of solar companies that hope to close federal loan guarantees and start construction on solar farms by the end of the month.
Does the Chinese government want to be a cleantech VC? That seems to be the case as the government announced a plan to invest directly or through venture capital funds in startups that are developing technologies including alternative energy and cars.
Solyndra’s woes continue. The Federal Bureau of Investigation is searching Solyndra’s headquarters this morning, though it declined to say what it’s looking for.
Solar silicon and cell maker Calisolar has ditched a $275 million federal loan guarantee to build a factory in Ohio, but the company still has a manufacturing plan. It says it has secured a $75.25 million package from Mississippi to locate its factory there.
Solyndra just became a high-profile casualty of the youthful solar industry as Solyndra failed to compete successfully against larger solar rivals in a global market that depends heavily on government subsidies. Here’s what went wrong.
After getting a $535 million federal loan guarantee for building a factory, solar thin-film startup Solyndra is going out of business. Solyndra has also raised close to a billion dollars in equity and loans and said it will file Chapter 11.