Energy-backed firms award bonuses, file bankruptcy

By Ronnie Greene and Matthew Mosk

The DOE financed green energy companies that later fell into bankruptcy — but not before the firms awarded big executive bonuses

Excerpts from this story referencing "Ener1":

"… n records show. Last October, Beacon Power filed for Chapter 11 bankruptcy.Ener1 subsidiary EnerDel, maker of lithium-ion battery systems, landed a $118.5 …"

"… Are Changing America.”Two months after Biden’s visit, corporate parent Ener1 paid $725,000 in bonuses to three executives — including $450,000 to the …"

"… to then-CEO Charles Gassenheimer, who led Biden on the tour. This January, Ener1 filed for Chapter 11 bankruptcy protection.At least two other firms that b …"

"… ate entity rewarded executives prior to its bankruptcy filing.One example: Ener1, whose subsidiary EnerDel won the $118.5 million Energy Department grant i …"