Obama-backed green company goes under
INDIANA (KGO) -- Another green company backed by President Obama's administration is going under.
The Wall Street Journal reports Ener1, an electric car battery company, has filed for bankruptcy protection. The filing comes a year after Vice President Biden's visit to an Ener1 subsidiary in Indiana. Ener1 received a $118 million grant from the Energy Department to build a factory.
In 2011, Fremont-based solar panel maker Solyndra also went out of business after taking more than half a billion dollars in government loans.
barack obama, bailout, business
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