Yet another green energy company goes bankrupt. Does an Obama subsidy guarantee failure?
Yet another green energy company goes bankrupt.
The Amonix solar manufacturing plant in North Las Vegas, heavily financed under an Obama administration energy initiative, has closed its 214,000-square-foot facility 14 months after it opened.
Officials at Amonix headquarters in Seal Beach, Calif., have not responded to repeated calls for comment this week. The company today began selling equipment, from automated tooling systems to robotic welding cells.
A designer and manufacturer of concentrated photovoltaic solar power systems, Amonix received $6 million in federal tax credits and a $15.6 million grant from the U.S. Department of Energy to build the plant in North Las Vegas.
Rene Kenerly, a former material and supply manager at Amonix, said the plant has been idle since May 1, when he was laid off.
Does an Obama subsidy guarantee failure?
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