Another Green Energy Firm Awarded Stimulus Funds in Trouble

Another green energy company awarded millions in federal stimulus dollars is in financial trouble and is being monitored by the Energy Department.

 

New York-based Ener1, a manufacturer of advanced batteries for use in electric vehicles, received a $118.5 million grant to expand its operations.

Vice President Joe Biden visited the company in January to promote the administration’s goal of putting a million advanced vehicles on the road by 2015, Politico reported.

 

NASDAQ pulled the company from trading on Friday for failing to file its most recent quarterly report on time, and Energy Department spokesman Damien LaVera said on Monday that the

 

DOE “is closely monitoring the status of the company.”