A Bay State solar panel developer that landed a state loan from Mitt Romney when he was Massachusetts governor has gone belly up — a day after the GOP presidential hopeful ripped President Obama’s green-energy investments.The company has interest from other countries that subsidize alternative energy, including China:
Lowell-based Konarka Technologies announced late yesterday that it filed for Chapter 7 bankruptcy protection and will cease operations, lay off its 85 workers and liquidate.
“Konarka has been unable to obtain additional financing, and given its current financial condition, it is unable to continue operations,” CEO Howard Berke said in a statement. “This is a tragedy for Konarka’s shareholders and employees and for the development of alternative energy in the United States.” Boston Herald
Berke indicated in Konarka’s announcement that he hasn’t given up hope that a “rescue financing or acquisition” would materialize during the bankruptcy proceedings. He noted “worldwide interest in the company, including from the Chinese government” — whose subsidies for its solar industry prompted the Obama administration earlier this month to impose punishing tariffs.You wouldn't think a severe conservative would invest in green energy in the first place. Romney appears to be puppeted by whoever owns him. In Massachusetts, it was the moderates. Now it's the severe conservatives.