It’s obviously hugely embarrassing for the president to give another green-energy company a shout-out in his prime-time speech only to have it declare bankruptcy two days later. – Business Insider

 

Michael Brendan Dougherty at Business Insider

EXCERPTS:

Andrew Restuccia of The Hillis reporting that Ener1, a battery company that President Obama referenced in his State of The Union Speech on Tuesday as an example of successful energy investments, has just filed for chapter 11 bankruptcy.

That’s just two days after the speech.

 

According to Phil Milford and Dawn McCarty at Businessweek, Ener1 had received a $118 million U.S. Energy Department grant to make electric-car batteries.

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