Tag Archives: #Greenfail

Tax Payer Backed ReVolt Files for Bankruptcy

Another #Green Fail. More of our money down Obama’s Sustainable toilet.

From Sustainable Business Oregon:

The parent company of a taxpayer-backer battery technology company has filed bankruptcy in a Norwegian court.

Portland-based ReVolt Technology, whose parent company is in Norway, said last month it would file bankruptcy because it had been unable to raise new capital or find a buyer.

The company had been developing a zinc-air battery technology that it said could deliver twice the energy of conventional rechargeable battery technologies, such as lithium-ion.

The Business Journal has been unable to reach ReVolt company officials.

Before it abruptly closed its doors, ReVolt received several taxpayer subsidies:

$5 million from a federal grant program.
$3.4 million from the state of Oregon’s Small Scale Energy Loan Program.
$1.15 million from a Portland Development Commission loan program
$500,000 from the governor’s Strategic Reserve Fund.

A copy of the company’s bankruptcy filing was not immediately available.

So they received over $10 million and still went bust. Continue reading

Posted in Crony Capitalism, Economy | Tagged , | 1 Comment

The Morning Links (4/2/12)

All of the above policy: Obama Kills Atlantic Oil Drilling For Five Years
President Don Quixote: Obama pushes for Wind Farms in the Great Lakes
#GreenFail: 80% of Loans to Green Companies went to Obama Bundlers
No comparison: Ronald Reagan’s recovery vs. Barack Obama’s
Obama’s legacy: Failure
We’re #1!: It’s Official – United States Now Has Top Corporate Tax Rate in the World
Fast and Furious Update: ATF Agent Communicated Directly with White House Aide on Fast and Furious

And never will: The $50 Lesson Obama Hasn’t Learned
Warning, Internet Genius at Work: Conservatives hijack #AskVP hashtag on Twitter Continue reading

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The Morning Links (2/17/12 )

Yes: Quote of the day | Don Surber Now read this one: Hit Obamanomics | Don Surber
The same question: A Graphic Question: Where Are the Jobs? | Republican Study Committee (RSC)
Charts of the day: In Pictures: Facts about America’s Slow Economic Recovery |heritage
Bad: Foreclosures on the Rise Again | CNBC
Worse: CHANGE: Moody’s May Downgrade 17 Banks, Securities Firms. “Moody’s Investor Service warned on Thursday…” | Instapundit Continue reading

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