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Taxpayer-supported green energy company goes bankrupt

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    Abound Solar files for bankruptcy, lays off workers

  • Duration 2:38
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-- green energy firm backed by the White House bites the dust solar panel maker abound solar.

Filing for bankruptcy after receiving seventy million taxpayer dollars from the same program that funded now bankrupt Solyndra.

Does Hillary on this NBC what does this come to light.

We'll came to light to stay.

Yesterday in the midst of all the Supreme Court stuff sort -- got lost in all of the attention of that but it also comes just today.

After the Department of Energy released a new campaign to tout its investments in green energy called.

Beyond Solyndra how the Energy Department's loans are accelerate America's transition to a clean energy future.

But house energy and commerce committee chairman Fred Upton calls that quote an astonishing piece of propaganda especially in light of this newest bankruptcy filing.

Abound solar received a 400 million dollar Energy Department loan guarantee.

Back in January 20111 of its executives expressed high hopes -- low cost solar panels.

We're in the process of building a second looks like right now.

We'll build a third line probably late this year.

But fast forty year and a half now the company is bankrupt it issued a statement reading in part.

Aggressive pricing actions from Chinese solar panel companies have made it very difficult for early stage startup company like a bound.

To scale its current in current market conditions abound says it supports enforcement of free trade with China but it admits that.

And -- such action is just too late to help that company -- -- that this company joins a growing list of companies that took these loan guarantees.

And I think -- and it did not work out very well did it yeah.

Certainly did not we all know about Solyndra the solar manufacturer receipt of 535.

Million dollar deal we stimulus loan guarantee.

It's bankrupt now but there's also these companies beacon power -- solar company received a 43 million dollar deal we stimulus loan guarantee it's now bankrupt.

And are one battery maker which was number 67 on the White House's list of a hundred projects that are changing America.

-- received a 118 point five million dollar stimulus grant is bankrupt.

A company called a 123 of battery maker received a 249.

Million dollar.

It just -- off 125 workers at its Michigan plant and then there's -- or auto mode of the electric vehicle manufactured.

It received 529.

Million dollars in deal we stimulus.

Loans it just announced layoffs of 26 people from its Delaware factory.

But Fister says those layoffs are temporary.

And that it's merely being a prudent company at this point we will see about -- stay -- -- thank you Doug Doug -- -- -- on the story -- a Washington DC today.

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