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Thu, 26 Jan 2012, 4:18pm Another Obama-backed Electic Car Battery Company Goes Bust »
Futureman Almighty
Registered: Jan, 2011
Last visit: Fri, 12 Apr 2013
Posts: 85

Some of you dimwits need to read more than the headline:

“While it’s unfortunate that Ener1, the parent company, has entered a restructuring process,” the investment of “private capital demonstrates that the technology has merit,” Jen Stutsman, a spokeswoman for the Energy Department, said in an e-mail. “The restructuring is not expected to impact EnerDel’s operations and the company has made clear that they do not expect to reduce employment at the site.”

Ener1’s grant application received bipartisan support from Indiana lawmakers, and the company got a $6.5 million Energy Department advanced-battery grant and a $4 million Defense Department research and development contract under the George W. Bush administration