If anyone here in the Valley was wondering what had happened to russell kanjorski after he made 9 million tax payers dollars disappear that his uncle paul kanjorski had arranged for Cornerstone Technologies, I have the answer. The young man wound up as V.P for marketing at Abound Solar which obama gave a 400 million secured loan to. Well bad news folks, young kanjorski left the firm not long before Abound announced that they would be laying off the majority of its work force and closing one of its plants. Today the other shoe fell, in a story at energy.gov it was announced that Abound Solar would be declaring bankruptcy next week. The good news if there is any is that they were only into us for 70 million.
Solar Manufacturing: To Compete or Not To Compete
Next week, Abound Solar, a startup company that borrowed $70 million
through the Department’s loan program, will close its doors and file
for bankruptcy. Abound was an innovative manufacturer of
next-generation, cadmium telluride thin-film photovoltaic modules that
had developed and demonstrated a process for producing thin-film solar
panels at a cost that was expected to be substantially less than
traditional solar panels. When the cost of polysilicon was high,
Abound’s technology offered the promise of a lower cost alternative
that would be built here the United States.
UPDATE...Another Abound article from CBS news