Solyndra, a major manufacturer of solar technology in Fremont, has shut its doors, according to employees at the campus.
Shortly after it opened a massive $700 million facility, it canceled plans for a public stock offering earlier this year and warned it would be in significant trouble if federal loan guarantees did not go through.
Solyndra was touted by the Obama administration as a prime example of how green technology could deliver jobs. The President visited the facility in May of last year.
The federal government offered $535 million in low cost loan guarantees from the Department of Energy. NBC Bay Area has contacted the White House asking for a statement.
I have nothing against solar energy. But the numbers simply don't work, even with massive government subsidies.
For those who write and tell me I'm all wrong on this, you may want to look at the list of lobbyists promoting this short-lived company:
For those who write and tell me I'm all wrong on this, you may want to look at the list of lobbyists promoting this short-lived company:
In July, Solyndra retained the powerful Glover Park Group, where the company's lobbyists include top Max Baucus aide and Environment & Public Works Committee staffer Catherine Ransom, longtime Republican aide Alex Mistri, and Energy and Commerce staffer (and former John Kerry Legislative Director) Gregg Rothschild .... are just a few of the lobbyists ... more at the link.
