Via The Hill, we learn that Ener1, a battery manufacturer that received a $118.5 million stimulus grant from the Department of Energy in 2009 has gone into bankruptcy:
The Energy Department in 2009 approved a $118.5 million stimulus grant for EnerDel, a subsidiary of the company that develops lithium-ion batteries used in electric vehicles. The grant was part of a broader program aimed at promoting the development of electric-vehicle battery technology.
President Obama touted the program in his State of the Union address this year.
Excellent timing on that one. For those other companies that have received stimulus funds: make it a priority to keep your name out of future presidential speeches and, if at all possible, off Joe Biden’s itinerary.
