Another Obama Green Energy Company Bites the Dust … Amonix Received $6 Million in Federal tax credits & a $15.6 Million Grant from the U.S. DOE

 

Forget Romney and Bain Capital, what about Barack Obama’s business track record with failed green energy companies and lost tax payer dollars all under the guise of creating jobs?

Add another “green” energy company to the failed Barack Obama trash pile of squandered US tax payer dollars. Amonix, a solar manufacturing plant in North Las Vegas that received $6 million in federal tax credits and a $15.6 million grant from the U.S. Department of Energy has closed its doors. Amonix is described on their web page as the leading designer and manufacturer of concentrated photovoltaic (CPV) commercial solar power systems. Oops, not so much. Add Amonix to the growing list of failed companies touted by the Obama Midas touch like Solyndra, Abound Solar, Beacon Power …

ANOTHER OBAMA FUNDED GREEN ENERGY COMPANY ONE BITES THE DUST

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. [...]

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.

Is it any wonder why, according to a recent Rasmussen poll, that 57% of Americans say that Venture Capital Firms are better job creators than government programs. Only a delusional 27% think the government does.

How’s Obama Doing Spending Your Tax Dollars?

As Yogi Berra would say, its deja vous all over again or in the case of Weasel Zippers, hmm stop me if this sounds familiar? Sadly this is all too familiar during the Obama regime. Obama has thrown away Americans hard earned tax dollars and failed, epically failed America. Add Amonix to the long list of Obama funded green energy companies.

  • Solar Trust of America: FAIL – Filed Bankruptcy in Oakland, CA, April 3, 2012 – On April 2, 2012
  • Bright Source: FAIL – Bright Source warned Obama’s Energy Department officials in March 2011 that delays in approving a $1.6 billion U.S. loan guarantee would embarrass the White House and force the solar-energy company to close. Lost Billions of dollars but Getting More Money To Keep Trying. Canyou say, “This isnt working?”
  • Solyndra: FAIL – Solyndra shut its doors and laid off 1100 workers in August 2011 After Billions in Losses
  • LSP Energy: FAIL – LSPEnergy LP  filed bankruptcy protection and a sale of its assets in Feb 2012
  • Energy Conversion Devices: FAIL – On February 14, 2012 Energy Conversion Devices, Inc. and its subsidiaries filed for bankruptcy
  • Abound Solar: FAIL – Abound Solar received a $400 million loan guarantee from Barack Obama announced in June, 2012 that it would file for bankruptcy
  • SunPower: FAIL – SunPower stopped producing solar cells last year at near bankruptcy restructured only with help of, get this, oil giant TOTAL who owns 60% stake. Irony! Still struggling…
  • Beacon Power: FAIL – Beacon Power Corp filed for bankruptcy Oct 2011 just a year after Obama approved $43 million loan Government loan guarantee
  • Ecotality: FAIL – ECOtality, a San Francisco green-tech company that never earned any money on the verge of bankruptcy after receiving roughly $115 million in two loan guarantees from Obama
  • A123 Solar: FAIL-A123 received $279 million from taxpayers thanks to President Obama’s Department of Energy loan guarantees and after Solyndra bankruptcy is getting another $500M from Obama and it has lost $400M
  • UniSolar: FAIL – Uni-Solar filed for Ch 11 bankruptcy in June 20 this year laid off hundreds got more Obama money still failing but still in business.
  • Azure Dynamics: FAIL – Azure Dynamics files for bankruptcy in June ter millions in Obama “Stimulus”
  • Evergreen Solar: FAIL  – Evergreen Solar received $527 Million in Taxpayer money from Obama filed bankruptcy
  • Ener1: FAIL received more than $100 million in government funding from the Obama administration  filed for bankruptcy January 2012

More from The Heritage Foundation and the Harry Reid backed belly up  solar panel manufacturer. Let’s see Obama tout this fiasco and lost tax payer dollars as a positive in the 2012 Presidential election.



If you liked this post, you may also like these:

  • Will President Barack Obama Ever Learn … Obama Administration Announces More Solar Energy Projects After So Many Solyndra’s Have Failed
  • Another Obama Green Energy Company Fails … Ener1 Received $118.5 Million Stimulus Grant Files for Bankruptcy
  • Fisker Automotive Who Received Government Loan Totaling $529 million Fires 75% of Workers
  • A123 Systems, An Electric Car Battery Company … Another Barack Obama Green Stimulus Company Failure
  • Another Obama Touted Green Energy Company Lays off Workers, Abound Solar Received $70 Million and Lays Off 280 Employees




  • Comments

    5 Responses to “Another Obama Green Energy Company Bites the Dust … Amonix Received $6 Million in Federal tax credits & a $15.6 Million Grant from the U.S. DOE”

    1. A Texas Grandfather on July 19th, 2012 8:52 am

      Good piece. The Romney campaign should use this list of 14 failures to pound the Obama campaign about why government should NOT be attemptimg to use tax payer dollars as venture capital.

      The dirty little secret is that most government agencies are run by attorneys who have little or no experience in business. The people need to insist that this gets changed.

    2. Jim Ray on July 19th, 2012 3:24 pm

      The Government wastes our money on this so call “Green” energy technologies, and refuse to fund legitimate well researched and validated new futuristic patented energy technology that is unique, non-competitive, cheap, and plentiful that China doesn’t have. That’s our Government.

    3. Jeff Sturgis on July 23rd, 2012 11:13 am

      The issue of venture capitalists vs. govt. comes down to those who (how did the Obama gang put it?) Oh, yeah “have skin in the game” vs those who are playing with other peoples’ money.

    4. Another One Bites the Dust | ReReno's Blog, Reno/Sparks Real Estate on July 23rd, 2012 4:52 pm

      [...] to see a list of some of the other green energy failures supported by the feds. Share this:FacebookTwitterStumbleUponMoreLinkedInEmailPrintLike this:LikeBe [...]

    5. bob on July 23rd, 2012 6:43 pm

      This is plain bull— just BS.
      The 15.6 m that Amonix received from the dept. of energy was given by the bush administration in 2007 and although they had 6 m available through tax credits from the Obama administration they never used it, given that things were so bad they had generated no taxable income.

      you suck with lies and distort facts
      _____________________________
      SM: Yup, the distortion from the lips of Barack Obama. Don’t lie, its pathetic.

      Another green company backed by an Obama bundler just bit the dust. The company was opened when? When will the LEFT ever just take it like a man and admit responsibility?

      http://finance.townhall.com/columnists/johnransom/2012/07/20/another_obama_bundler_boondoggle_goes_broke

      After announcing earlier this year that the company would lay off 200 of its 300 employees, solar manufacturer Amonix Inc. closed its operation in North Las Vegas leaving taxpayers in the red by $20 million.

      “Just seven months after California-based solar power company Amonix Inc. opened its largest manufacturing plant, in North Las Vegas,” reports the Las Vegas Sun, a liberal paper, last January, “the company’s contractor has laid off nearly two-thirds of its workforce. Flextronics Industrial, the Singapore solar panel manufacturer that partnered with Amonix to staff the new $18 million, 214,000-square-foot plant, laid off about 200 of its 300-plus employees Tuesday.”

      http://youtu.be/_fsZ3KQ0wok

      More Solyndra-style failure: Obama-tied Amonix Inc lays off most of company

      http://news.yahoo.com/more-solyndra-style-failure-obama-tied-amonix-inc-175632088.html

      Some of President Barack Obama’s top donors and fundraising bundlers are partners in Amonix Inc., the latest Solyndra-like corporate crash. The company has announced a layoff of 200 workers — two-thirds of its workforce — despite a federal green-technology tax credit of $5.9 million in 2010.

      The investors include John Doerr’s venture capital firm Kleiner Perkins Caufield & Byers, Daniel Weiss’ Angeleno Group LLC and Steve Westly’s eponymous Westly Group, according to Amonix’s website.

      These three investors have also invested heavily in Obama and other Democrats — and the president’s aides are now trying to minimize the political damage.

      The Amonix downsizing is the latest in a string of failures that include the high-profile bankruptcy of solar-cell maker Solyndra in California, November layoffs at a battery-maker A123 in MIchigan, and the January bankruptcy of Ener1.

      Obama’s green-tech program gave those companies $535 million, $118.5 million , and $249 million, respectively.

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