Wednesday, March 28, 2012

Another Green Company that Took DOE Money Goes Bankrupt.... Steven Chu Made Another "Great" Bet with Taxpayer Money

Latest Industry Victim, Azure Dynamics, a Ford Partner, Looks for a Buyer By MIKE RAMSEY
The Wall Street Journal
Azure Dynamics Corp., AZD.T -2.67% a producer of electric delivery vans and a partner of Ford Motor Co., F -0.85% said on Tuesday that it is in talks with customers and suppliers to resume production following a bankruptcy reorganization filing in Canada.

Big 3 Are Winners In $175 Million DOE Grants

By Danny King August 15, 2011

General Motors, Chrysler and Ford were among the three-dozen entities that received a combined $175 million in U.S. Department of Energy (DOE) grants to be used to further develop technology aimed at boosting light-duty vehicle fuel economy by more than 75 percent over the next 14 years. Electric-motor maker UQM technologies, electric-drive powertrain maker Azure Dynamics, lithium-ion battery maker A123 Systems and tire makers Cooper and Goodyear also received DOE funding, which, combined with private sources will pay for more than $300 million in projects. The largest single grant - $26.4 million - was awarded to Phoenix-based Electric Transportation Engineering Corp. (eTec), for a test of early production light- and heavy-duty vehicles using a variety of propulsion systems and fuels. The company is owned by electric-vehicle charging infrastructure developer ECOtality. In 2009, ECOtality was awarded a $99.8 million DOE grant for its ongoing EV Project that involves deploying about 14,000 EV chargers across 18 metropolitan areas.

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