Friday, January 27, 2012

Ener1, Parent of Obama-Backed Green Company, Files for Bankruptcy


The parent company of an electric car battery maker that received more than $100 million in government funding from the Obama administration has filed for bankruptcy protection, the company announced Thursday. - ABC News

...EnerDel, a subsidiary of Ener1 dedicated to making batteries for electric cars, was awarded a $118 million grant from the Energy Department in 2009 as part of President Obama's economic stimulus package and green energy push. Ener1 said that the bankruptcy filing and newly announced company restructuring would allow its subsidiaries, including EnerDel, to "continue normal operation...."