Obama-backed green company goes under

January 27, 2012 11:23:41 AM PST
Another green company backed by President Obama's administration is going under.

The Wall Street Journal reports Ener1, an electric car battery company, has filed for bankruptcy protection. The filing comes a year after Vice President Biden's visit to an Ener1 subsidiary in Indiana. Ener1 received a $118 million grant from the Energy Department to build a factory.

In 2011, Fremont-based solar panel maker Solyndra also went out of business after taking more than half a billion dollars in government loans.