May 2, 2012
Can Energy Startups Be Saved?
David Rotman, MIT Technology Review
The Department of Energy's loan program, the centerpiece of the U.S. government's effort to help scale up and commercialize new energy technologies, is in shambles. Its reputation has been destroyed by the failure of Solyndra, a Silicon Valley–based solar company that declared bankruptcy last September after receiving a $535 million loan guarantee in 2009. Another early recipient of a DOE loan, Beacon Power, which received a $43 million loan in August of 2010, also went bankrupt late last year. And a number of other energy startups that have received large federal loans appear to be in financial trouble.
TAGGED: Solyndra Inc.