Posts Tagged ‘DOE’

LG Chem, stimulus company workers, play cards, watch movies but no batteries produced in Michigan. A $300 million lithium-ion battery plant for cars like the Chevy Volt have no orders to fill. The Department of Energy issued the Company $151 million Recovery Act grant.

Former LG Chem employee, Nicole Merryman reported,

There would be up to 40 of us that would just sit in there during the day. We were given assignments to go outside and clean. If there was nothing for us to do, we would study in the cafeteria, or we would sit and play cards, sit and read magazines. It’s really sad that all these people are sitting there and doing nothing, and it’s basically on taxpayer money.”

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Satcon Technology Corp.(SATC), a DOE-backed solar company filed for Chapter 11 bankruptcy protection in Delaware. Satcon received a $3 million DOE grant in January to develop a compact, lightweight power conversion device that is capable of taking utility-scale solar power and outputting it directly into the electric utility grid at distribution voltage levels.  It would have eliminated the need for large transformers.

Satcon is the second DOE-backed green energy company to declare bankruptcy this week. Electric vehicle battery manufacturer A123 Systems filed for Chapter 11 despite receiving a $249 million DOE grant.

President Obama’s Taxpayer-Backed Green Energy Failures Click Here

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