The third federally subsidized green energy company to declare bankruptcy seems to indicate a pattern, said Rep. Cliff Stearns, chairman of the House Energy and Commerce subcommittee on oversight and investigations. “One bankruptcy may be a fluke, two could be coincidence, but three is a trend,” Stearns said in a written statement. “Our investigation continues, and we are working to ensure taxpayers never are never again stuck paying hundreds of millions of dollars because of the administration’s risky bets.” Ener1, which makes batteries for electric vehicles, announced Thursday it had filed for Chapter 11 bankruptcy protection. The company had been awarded a $118.5 million from the Energy Department through the American Recovery and Reinvestment Act, better known as the stimulus...
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