Putting the A123 Bankruptcy in Context | Renewable Energy News Article. By John Rogers, Senior Energy Analyst, Clean Energy
October 19, 2012
… To date, 30 battery and electric drive firms have received stimulus funding. A full list is here. Two of them, A123 Systems and EnerDel, have filed for bankruptcy so far. (They haven’t disappeared, however: EnerDel continues to operate and A123′s stimulus-funded facilities will remain open under the deal with Johnson Controls.)
Those two companies represent 18% of the vehicle battery grants, which means that 82% of that portfolio is still “performing”.
Plumer also offers as context another stimulus-funded program that’s gotten a lot of attention but has an even more impressive performance to date:
In a similar vein, of the 26 clean-energy projects that have received federal loan guarantees under a separate 1705 program, just three have filed for bankruptcy, including Solyndra, Abound, and Beacon Power. (Though Beacon is still operating and has largely paid back its federally backed loans.)
Even the full amount at risk from those three companies adds up to 6% of the portfolio, meaning that the performing piece of the investments is 94% of the whole… Read the full article