Battery Maker Ener1, A DOE Loan Recipient, Goes Bankrupt

Source: Steve Hargreaves / CNN Money

NEW YORK – Electric car battery maker Ener1 filed for bankruptcy Thursday, three years after receiving a $118.5 million grant from the U.S. government.

Ener1 (HEVV), which makes a variety of energy storage devices under different subsidiaries, is the parent company of EnerDel, the car battery division that received the government grant to build a manufacturing plant in Indianapolis.

The company said the “voluntarily initiated” bankruptcy filing won’t impact any of its subsidiaries, including EnerDel, and that operations in its factories will continue as normal.

“The restructuring will not adversely impact their employees, customers and suppliers,” the company said in a press release.

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  • The failure of this company should not come as a surprise to anyone. In
    fact earlier this year I wrote a 2-Part story titled “With the failure
    of the electric car concept in America what impact will this have on the
    lithium ion battery global supply chain?” that provides an in-depth
    look at the sector.

    What is interesting is that this recent failure has little to do
    with failed policy per say, and more to do with the public’s
    unwillingness to end its longtime love affair with fossil fuel.

    Here are the links to Part 1 (http://wp.me/p4HrB-2Xa) and Part 2 (http://wp.me/p4HrB-2XM).

    The question is simply this . . . how can we turn our own
    unwillingness to move away from fossil fuels into a shortcoming on the
    part of any political party? It’s like ignoring our parents warning not
    to put our hands on a hot stove and then getting mad at them when we
    don’t listen and get burned.

  • The failure of this company should not come as a surprise to anyone. In
    fact earlier this year I wrote a 2-Part story titled “With the failure
    of the electric car concept in America what impact will this have on the
    lithium ion battery global supply chain?” that provides an in-depth
    look at the sector.

    What is interesting is that this recent failure has little to do
    with failed policy per say, and more to do with the public’s
    unwillingness to end its longtime love affair with fossil fuel.

    Here are the links to Part 1 (http://wp.me/p4HrB-2Xa) and Part 2 (http://wp.me/p4HrB-2XM).

    The question is simply this . . . how can we turn our own
    unwillingness to move away from fossil fuels into a shortcoming on the
    part of any political party? It’s like ignoring our parents warning not
    to put our hands on a hot stove and then getting mad at them when we
    don’t listen and get burned.

  • The failure of this company should not come as a surprise to anyone. In
    fact earlier this year I wrote a 2-Part story titled “With the failure
    of the electric car concept in America what impact will this have on the
    lithium ion battery global supply chain?” that provides an in-depth
    look at the sector.

    What is interesting is that this recent failure has little to do
    with failed policy per say, and more to do with the public’s
    unwillingness to end its longtime love affair with fossil fuel.

    Here are the links to Part 1 (http://wp.me/p4HrB-2Xa) and Part 2 (http://wp.me/p4HrB-2XM).

    The question is simply this . . . how can we turn our own
    unwillingness to move away from fossil fuels into a shortcoming on the
    part of any political party? It’s like ignoring our parents warning not
    to put our hands on a hot stove and then getting mad at them when we
    don’t listen and get burned.