US DOE funded low cost loans to Clean Energy Companies comes under renewed fire from the Kochs

Republicans have been attacking the Obama administration for low cost DOE guaranteed loans to clean energy companies, ever since the Solyndra bankruptcy (LINK). They have accused Obama of favoring companies which contributed significant amounts of money to his presidential campaign. This was a major point of contention during the recent Presidential elections. However, it did not get much traction except in the Republican controlled media. Note a number of cleantech companies have already closed down due to numerous causes such as:

i) Chinese competition

ii) climate change apathy and

iii) lack of money in a capital intensive industry.

Read about Advantages of Green Clean Renewable Energy.

Now 2 small vehicles makers XP Vehicles and Limnia have filed multi million dollar cases against the US government for favoring car makers Fisker and Tesla. These companies are apparently being backed by the anti-Democrat and pro-oil Koch brothers. The Koch brothers are virulently anti-green and have funded think tanks and studies, which have belittled global warming and climate change. According to news report, XP vehicles wanted to fund a vehicle which had foam doors. I am not an expert evaluator of ATVM, but I would guess it was a good idea that DOE did not give money to these guys.

Also read about List of Top Renewable Energy/Green/CleanTech Companies in India which are Publicly listed.

REW

President Barack Obama’s administration played favorites on clean-energy loans while improperly blocking a carmaker and a related technology company from receiving millions in aid, according to two lawsuits.

XP Vehicles Inc. and Limnia Inc. filed complaints against the U.S. and the Energy Department today in two federal courts in Washington, seeking damages for what they say were abuses of the $25 billion Advanced Technology Vehicle Manufacturing loan program. XP Vehicles, which has dissolved, and Limnia are asking for $450 million in a case filed in the U.S. Court of Federal Claims and at least $225 million in U.S. District Court.

“Defendants used the ATVM loan program as nothing more than a veil to steer hundreds of millions of taxpayer dollars to government cronies,” according to the district court complaint.

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