The Constant Drip-Drip-Drip

Well I missed this when I wrote about Ener1.  

Evergreen Energy Inc. (EVEI), a developer of alternative fuel products, filed for bankruptcy protection, saying it was impossible to maintain operations with a lack of financing.

The company listed assets of about $240 million and debt of $25 million in Chapter 7 documents filed yesterday in U.S. Bankruptcy Court in Wilmington, Delaware. Chapter 7 proceedings let companies liquidate their assets while being protected from creditors.

Evergreen “remains unable to obtain additional financing and, given its current financial condition, there is substantial doubt that the company will be able to continue operations,” Evergreen said in a Jan. 13 filing with the U.S. Securities and Exchange Commission.

But Evergreen is not the ONLY other one this week.  Today another stimulus recipient laid off 2/3 of it's workforce.

Just seven months after California-based solar power company Amonix Inc. opened its largest manufacturing plant, in North Las Vegas, the company’s contractor has laid off nearly two-thirds of its workforce.

Flextronics Industrial, the Singapore solar panel manufacturer that partnered with Amonix to staff the new $18 million, 214,000-square-foot plant, laid off about 200 of its 300-plus employees Tuesday.

And yet President Obama is doubling down on "investing" in ideological crack.  It's time to put down the pipe and realize that if green energy is EVER going t o succeed, then the government needs to get out of the way of real innovation.