Energy Dept. defends $118M grant to bankrupt battery maker
- Last Updated on 01 April 2012
Joshua Peterson | The Daily Caller:
The Department of Energy, which issued a $118.5 million grant to the now bankrupt battery company Ener1, is describing a fresh infusion of $80 million in private capital as a sign that the company's technology "has merit."
In a statement provided to The Daily Caller Thursday, Energy Department spokesperson Jen Stutsman said that the grant to EnerDel, a subsidary of energy storage technology company Ener1, "is supporting a cutting-edge battery manufacturing plant that is producing batteries in America that are being sold across the country and around the world."
"This grant is part of the Department's efforts to commercialize promising vehicle technologies that will help America to reduce our dependence on foreign oil and ensure U.S. companies can compete in the global auto industry," said Stutsman. ... continued...
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