Another DOE-Backed Solar Company Goes BankruptHeritage.org
Oct. 22, 2012
Megyn Kelly Exposes Hillary Shill 'Miss Universe' Alicia Machado As A Liar
WATCH: Did Hillary Clinton Give Hand Signals to Debate Moderator Lester Holt?
Survey: 'Generation Z' Rejecting Parents' Liberalism And Shifting Hard Right
Germany: Arab Migrants Playing 'Taharrush' Sexual Assault 'Game' At Public Pools
Turkish Terrorist Who Shot Up Cascade Mall Voted Repeatedly Despite Not Being U.S. Citizen
A solar company that got a multi-million-dollar grant from the Department of Energy earlier this year announced Wednesday that it will file for Chapter 11 bankruptcy protection, making it the second taxpayer-backed green energy company to file for bankruptcy this week.
Satcon Technology Corp. announced the decision in a Wednesday news release. “This has been a difficult time for Satcon,” president and CEO Steve Rhoades said. “After careful consideration of available alternatives, the Company's Board of Directors determined that the Chapter 11 filings were a necessary and prudent step, allowing the Company to continue to operate while giving us the opportunity to reorganize with a stronger balance sheet and capital structure.”