Another DOE-Backed Solar Company Goes BankruptHeritage.orgOct. 22, 2012 |
Claim Jewish Student Was 'Stabbed In The Eye' by Pro-Palestine Protester Draws Mockery After Video Released
Mistrial Declared in Case of Arizona Rancher Accused of Killing Migrant Trespasser
Sen. Hawley: Send National Guard to Crush Pro-Palestine Protests Like 'Eisenhower Sent the 101st to Little Rock'
Senate Passes $95B Giveaway to Israel, Ukraine, and Taiwan, Combined With TikTok Ban
AP: 'Israeli Strikes on Gaza City of Rafah Kill 22, Mostly Children, as U.S. Advances Aid Package'
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.” Read More |