Cronies tied to at least $10 billion of Obama’s taxpayer funded green-energy spending spree: Energy-sector 2009-Recovery Act advisor and Jobs Council member, billionaire John Doerr’s VC firm Kleiner Perkins –– Al Gore partner, and KPCB collaboration with the London based Generation Investment Management.
Updated to reflect First Solar addition for $3B
In my first segmentof “Spreading the Wealth to Obama’s Ultra-Rich Jobs
Council Members,” I covered Obama’s Jobs Czar, Jeffrey Immelt and the fact that General Electric, a top 2008 Obama donor, has been making bank off of Obama’s 2009-stimulus package –– GE’s “green tab” exceeds $3 billion in direct (some indirect) taxpayer cash, and counting.
KPCB Green Money: 2010 vs. 2012
While quite a few of Doerr and Gore clean energy investments have been listed in my 2012 Green-Energy Failure Alert List (total at 52), The Wall Street Journal’s end of the year analysis sheds light on Kleiner Perkins –– a “political venture capital turns out to be a loser,” concluding,
Another one involves Kleiner Perkins “nuclear buddy” AREVA (Ausra Inc., also a GIM investment, acquired by the French company AREVA February 8, 2010) and its $2 billion “POTUS approved” loan. Plus Ausra, now Areva Solar Inc. was awarded close to a $14 million 1603 grant for “solar electricity” in California two weeks later. Topping off this “stimulus winner” connection list is their shining smart firm, Silver Spring Networks as well as OPower, of which both are tied to at least $1.3 billion of the Recovery Act Smart-Grid Grants.
In 2010, I had written extensively on Doerr and Gore, and mentioned David Blood. Doerr and Gore –– the “climate duo,” whose combined “carbon footprint” is larger than my entire city –– friendship dates as far back as the 90’s. Since being converted to “global warming” by Gore in 2005 with “a convenient hype,” Doerr has become a “green evangelist,” with his climate crisis message, “I’m really scared, I don’t think we’re gonna make it.” At the same time Doerr continually markets green-energy as “the mother of all markets” –– $6 trillion a year worldwide.
In 2004 Gore started a company with former CEO of Goldman Sachs Asset Management David Blood –– Generation Investment Management (GIM): “Sustainable Investing for the Long Term” –– whereas Blood is the “wizard behind” GIM, and other executives include two other Goldman bigwigs, Mark Ferguson and Peter Harris.
Teaser: Senator John Kerry and Green-Energy Crony-Corruption
10/31/12 Leaked House Oversight Emails Reveal more White House intervention and involvement as wells as DOE Advisors that pressured, rushed –– and contrary to their testimony, met with “investors” during the course of the “green deal making process.”
Next, I’d like to expose what I found in the October 31, 2012 House Oversight emails (that included a memorandum as well as Appendix I and the 350+ page Appendix II) related to four large Department of Energy (DOE) transactions. The first one I had alluded to in the beginning, which is tied to Gore’s GIM company, while the other three to Kleiner Perkins –– one acquired, one a direct investment, and the other as a contractor.
Keep in mind that the DOE Loan Guarantee Program (LGP) consists of three separate programs, Section 1703, Section 1705, and Advanced Technology Vehicles Manufacturing (ATVM), of which the 1705 was created by the stimulus, and the other two were approved by the Obama administration.
Since 2009, DOE has guaranteed $34.7 billion of taxpayer money –– 1703 doled out $10.3 billion to two projects; AREVA and Georgia Power, which are both suspect. Meanwhile through the 1705 $16 billion was doled out to 26 projects, of which 22 were rated as “junk bond” status –– and we can confirm that over 90 percent are politically connected to the president and other high-ranking Democrats, some both. The ATVM loaned out $8.4 billion, of which three of the five are directly tied to President Obama, while the other two Ford Motor Co. and Nissan, were “heavily engaged in negotiations with the administration over fuel economy standards for model years 2012- 2016 at the time DOE was considering their applications.”
Spanish company Abengoa that received close to $2.8 billion in loans, making them the second largest recipient of the $16 billion doled out through the DOE 1705 loan guarantee program.
Abengoa has two solar projects: Solana and Mojave Solar. Solana’s Fitch rating is BB+. Just before Christmas, 2010, the company received $1.45 billion from the DOE for a solar thermal plant, to use parabolic trough technology in Gila Bend, AZ. Mojave Solar’s rating was BB. Yet the company received $1.2 billion in September 2011 for its solar assembly collection project in San Bernardino County, CA. Abengoa has connections to .
In addition to the two solar projects listed above, Abengoa also has a biofuel project located in Kansas, which Fitch rated CCC that got a $132.4 million loan in August 2010.
So how did such a poorly rated, non-American company get billions in US taxpayer loan guarantees? Can you say “crony corruption?” A story Marita and I wrote last summer, but in short, Abengoa has a cadre of cronies in high places which not only involves Al Gore, but former New Mexico Governor Bill Richardson, California’s Democratic Senator Dianne Feinstein, and, of course, President Obama — plus, many others whose names you’ve probably never heard of.
Also, as I mentioned, in December 2012, the Export-Import Bank of the United States authorized $150 million in loans to Abengoa: $78.6 million direct loan to Spain-based Abengoa, and $73.6 million direct loan to a wind farm in Uruguay, which is owned by Abengoa –– as part of “an ambitious goal set by President Obama, of doubling U.S. exports in five years,” which to me in the case of Abengoa, we are exporting billions of US tax dollars to Spain.
While there are many emails to report on in regards to the Abengoa loans (a forthcoming column), one EMAIL in particular dated June 25, 2010 is very interesting. James McCrea writes to Jonathan Silver (cc’s David Frantz and Susan Richardson), with the subject line: Abengoa, Abound, First Wind, and Beacon: “Jonathan — an update on the 4 projects as of this evening. DOE is moving with ‘”the fierce urgency of now,'” while OMB/Treasury/FFB are moving with “fierce urgency of… whenever. There has been no sign of life from OMB/FFB/Treasury and no sign that they are responding to WH intervention.”
Silver responds to McCrea and Richardson (cc’s David Frantz), “Sounds like we can’t do the closing deals but can announce the conditional commitments. Let’s keep pushing on all four, but I will set the stage upstairs.”
#2) AREVA: $2 Billion DOE 1703 Loan Guarantee
EMAIL, September 1, 2009, subject line; etc warranty: James McCrea in addressing “AREVA backstopping,” writes, “Re the rushed process, I agree [another system of a process that’s overly and artificially rushed].” He goes on, “What makes it far worse, is that we are doing our analysis, preparing the term sheet, etc. (not ECT!!) before the project has gelled. In the commercial finance world, this transaction would not be ready for real financing discussion/term sheet preparation for a least a year.”
EMAIL, September 24, 2009, subject line; AREVA update: James McCrea writes, “Given the size of this transaction ($2B of loan guarantee), the political overlay, and recent experience with both CC and OMB, we are making every effort to button this transaction and the credit paper down as tightly as we can…”
Six months later we find an EMAIL dated March 1, 2010, subject line; Eagle Rock Project: from David Schmitzer, DOE LPO Director of Loan Origination to James McCrea: “Jonathan just said at our staff meeting that, opposite the message received on Thursday, AREVA is now a “‘go'” (seems on Friday POTUS himself approved moving it ahead).”
And two months later, May 2010, the $2 billion loan guarantee was approved, and they estimate that it will create 1000 construction jobs and a whopping 310 permanent jobs. Interesting enough is that AREVA is also tied to the UniStar project, which I found more damning evidence in the House Oversight leaked emails, implicating Secretary Chu and other Democrat politicians like
Steny Hoyer when he was the House Majority Leader in 2010, however, we need to get back to Kleiner Perkins.
NOTE: AREVA’s Eagle Rock Enrichment facility made it on my 2012 Green-Energy Failure Alert List, in the troubled category — with rumors of AREVA “suspending its Idaho uranium enrichment plant” circulated in late 2011, and more. But it’s unsure where they stand now…
#3) Fisker Automotive: $529 Million DOE ATVM Loan Guarantee / plus $21.5 million from the State of Delaware
One of the most blatant examples of government favoritism, catching headlines in the Wall Street Journal back in September 2009 (Gore-Backed Car Firm Gets Large U.S. Loan) was the $529 million ATVM loan guarantee, a huge deal that was cinched in April 2010, went to Fisker Automotive. Yep, Doerr and Gore’s Fisker DOE loan ignited red flags, partly due to the fact that the funds were for its high-end, hybrid sports coupe, Fisker Karma that was to be manufactured in Finland and sold for $89,000.
Isn’t that dandy? Even our jobs council is shipping jobs overseas, and using taxpayer money to do so…
Still, haven’t a few gone up in flames lately, and what about those layoffs? In fact Fisker too, made it on my 2012 Green-Energy Failure Alert List (total at 52), in the troubled category –– as they are possibly on life support. And what about the $21.5 million Fisker got from Delaware, which is composed of a $9 million grant and a $12.5 million loan, yet as of January 5th the company has yet to produce a car in Delaware.
Now in my analysis of these emails, I didn’t find much on the ATVM front, however, there were a few interactions that occurred between the following:
- Stephen Fisher, Director at Scully Capital Services, a Financial Advisor to U.S. Department
of Energy on the Federal Loan Guarantee Program, including the ATVM
- James C. McCrea, (FORMER?) Senior Credit Advisor Loan Programs Department of Energy
- Jason H. Gerbsman, (FORMER?) Chief of Staff & Senior Investment Officer, Advanced Technology Vehicles Manufacturing Loan Program, Office of Loan Programs, U.S. Department of Energy
- Lachlan Seward, amongst other high-profile government and financial works, he is the former Director of the ATVM Loan Program
- Jonathan Silver, former Executive Director of the Loans Programs Office Department of Energy (November 2009 to October 2011)
EMAILS dated May 16 to 18, 2011, where the aforementioned were discussing Next AutoWorks (they were seeking a $320 million ATVM loan) and the fact that Jonathan Silver was meeting with John Doerr on Tuesday, May 24, 2011.
Further, one EMAIL dated May 18, 2011 from Stephen Fisher to Jim McCrea, references a Next Framework Letter, where he writes, “Watch for a draft letter (Silver to Ligocki) coming this afternoon,” and then goes on… “It does make you wonder why we are putting all this in a letter to them. “It is a very strange process change for no good reason other than communicating with the Kleiner Perkins benefactors…”
NOTE: Kathleen Ligocki is an Operating Executive at Kleiner Perkins Caufield Byers (since September 2012) and serves as Chief Executive Officer of Next Autoworks Company (since 2010), a Kleiner Perkins company.
Next AutoWorks (formally V-Vehicle), is backed by Google Ventures, T. Boone Pickens, and Kleiner Perkins –– all Obama buddies. However, in November 2011, due to the to the defaults and federal probes into of other DOE-funded startups like Solyndra and Beacon Power that caused the government to re-evaluate its appetite for loans to early-stage companies, they withdrew their application in November 2011, “after DOE officials informed the automobile startup that its application would not be approved.”
#4) U.S. Geothermal: $97 million loan via the DOE 1705 Loan Guarantee Program
U.S. Geothermal Inc. (USG) –– an Idaho-based geothermal energy developer with three main projects in the works: San Emidio in Nevada, Raft River in Idaho, and Neal Hot Springs in Oregon, with plans for more. Peter’s Book notes that Goldman Sachs “was the second-largest-shareholder” however, in December 2011, The Huffington Post reported, “Goldman has a minority stake in U.S. Geothermal,” and “U.S. Geothermal is working with Raft River I Holdings, yet another Goldman subsidiary, on a project in Idaho.”
Neal Hot Springs Project in Malheur County, Oregon:
In May 2009, USG started the DOE loan process, and in June 2010, USG announced that it “was offered a conditional commitment for a $102.2-million loan guarantee from the U.S. Department of Energy,” slated to build a 22-megawatt power plant in the eastern Oregon desert.
In EMAIL exchanges February 16 and 17, 2011, discussing POTUS/LPO and President Obama’s visit to Oregon, Jonathan Silver writes, “See Below: POTUS will be in Portland on Friday (that is a close hold) and would like to announce both deals. So, you will not be surprised that OMB has cleared both. We need to get our work done on US Geothermal. I realize it is unfair. Life in the big city. Thanks! This will be a great week for the program!”
Later Matthew Winters (Senior Advisor, Loan Programs) responds about US Geothermal, “Now that we know POTUS is not going to make the SoloPower/USGeo announcement in Portland on Friday –– and we are going to announce SoloPower w/Chu at 4:30pm tomorrow –– the question is what do we do with USGeothermal? With appropriate pressure applied on OMB, this deal could still close by Friday…”
Brandon Hulbut, replies to Winters and cc’s Jonathan Silver, Owen Barwell, and Jim McCrea, “At wh let’s discuss first thing tomorrow –– heard some stuff from omb we need to sort out.”
And just a week later, February 24, 2011, USG secured the loan for $96.8-million via the 1705 loan guarantee program –– one of the first geothermal projects funded by the DOE, despite the fact that in December 2010, S&P gave it a “BB,” non-investment grade.
In September 2009, the DOE finalized an award for the Raft River EGS program, which they state, “now totals up to $10.21 million, with the DOE providing up to $7.39 million as part of the cost-sharing arrangement.” It also states, The Raft River EGS project is one of 21 projects that are scheduled to conduct research, develop and demonstrate the viability of Enhanced Geothermal Systems. The DOE provided up to $78 million in funding for the 2008/2009 programs,” and it began in February 2010.
Kleiner Perkins Projects Tied to Goldman Sachs and Wealthy Venture Capitalists: Obama Bundlers, Top Donors, and Appointed Department of Energy Advisors
What you should know about Cogentrix, besides the fact that $90 million of taxpayer money went to create a whopping 10 jobs, is that with this one transaction, Goldman Sachs cashed in every step of the way –– and their green cronies too. (A striking detail that I found when reviewing the June 19, 2012 House Oversight Hearing, where the CEO of Cogentrix Mr. Robert Mancini testified).
This is relevant not just because of the obvious cronyism and deep-seated corruption, but this green deal making is also tied to Amonix, a Gore and Doerr (also Steve Westly, DOE Advisor) investment, which received over $20 million in federal tax credits and grants, and went bankrupt July 18, 2012. More on Amonix later.
I’ve noted Obama’s Wall Street Buddies in previous posts, and have written extensively about the president’s connection to Goldman Sachs –– the number two top Obama donor in 2008. Also, two Goldman executives sat on Obama’s 2008 Finance Committee, Bruce Heyman and David Heller, while Jennifer Scully and Bruce Heyman were 2008 bundlers –– Heyman was also a 2012 Obama bundler.
Even without extensive research, Goldman Sachs is tied to many other clean-energy projects that received loans, grants and special tax breaks from the Obama administration, and what I’ve tracked so far are billions of stimulus money from the DOE; First Solar, Cogentrix, and U.S. Geothermal. They are also credited as the “exclusive financial adviser” for now bankrupt Solyndra, and in 2010, handled the IPO of both Tesla Motors and Amyris. There are more bankrupt ones as well –– SpectraWatt and Nordic WindPower, as well as “struggling” SunTech, taking billions of taxpayer money down with them.
NOTE: All but three of the above are on my 2012 Green-Energy Failure Alert List.
Now Horizon is very relevant to the “Wind Energy Blows in More Green Corruption” story that I will be telling soon. But in the meantime, you’ll be “blown away” by the billions of “wind energy grants” that flew out of the 2009-Recovery Act back in February 2010, the majority of which went to projects owned by foreign companies. And Horizon-EDPR (Portugal) was the winners of four totaling over $277 million.
In March 2012, Goldman Sachs announced its plan “to channel investments totaling $40 billion over the next decade into renewable energy projects, an area the investment bank called one of the biggest profit opportunities since its economists got excited about emerging markets in 2001,” writes Reuters –– meaning they’ll be pursuing for more government aid.
Khosla Ventures is where you’ll find billionaire Vinod Kholsa, and “Kholsa had been the head of Obama’s India Policy Team during the 2008 election,” states Peter’s Book. As revealed by a recent Breitbart.com article, “In October 2012, Mr. Khosla donated one million dollars to Priorities USA Action, a top liberal super PAC that backed President Barack Obama’s reelection. According to Reuters, since 1996, Mr. Khosla has made at least $474,534 in campaign donations, 86% of which went to Democrats.”
Mr. Khosla happens to be another big VC winner in the green taxpayer funded giveaway, which includes Ausra (listed above), Coskata that snagged a $250 million DOE loan, as well as Nordic WindPower (also a Goldman Sachs investment, listed above) for $16 million, plus much, much more.
Vinod Khosla, an affiliated partner of Kleiner Perkins, whose firm Khosla Ventures has also invested in some of the same companies as Kleiner Perkins –– these include Ausra Inc., AltaRock, Amyris, Great PointEnergy, Mascoma, and QuantumScape (part of Khosla Ventures “sustainability portfolio“), and all received Obama stimulus funds.
The Westly Group
Meet Steve Westly, the Founder and Managing Partner of The Westly Group, and a “DOE Insider,” as well as another Obama crony who made a DNC 2012 cameo. Westly is a two-time Obama bundler, sat on the campaign’s National Finance Committee, and was a co-chair of the 2012 Technology for Obama group. He was briefly considered for a cabinet level position in the Obama administration, and in August 2010, Westly secured a top advisory role inside the DOE, close to Energy Secretary Chu.
In 2011, Westly was tagged as the “Green bundler with the golden touch,” where IWatch points to “a trail of [green] loans, grants and tax breaks.” However, I found more –– as of today they list 20 firms (exited and current), and at least 50 percent of The Westly Group portfolio were winners in the Obama green-energy spending spree.
The most infamous is the Tesla Motors $465 million ATVM loan, which made it on my 2012 Green Energy Failure Alert List, in the troubled category with its array of Democrat cronies.
Throw in Soladigm (now called “view“), CalStar Products, and Enerkem, which 2009 got $50 million of DOE Recovery-Act funding, and in 2011, 80 million loan guarantee by the U.S. Department of Agriculture (USDA). SCIenergy, Inc., which in January 2012 got $2.8 million, plus more from city of San Jose via the stimulus. Meanwhile ShotSpotter is getting wired from stimulus funds, and in 2010, Revolution Foods got a DC contract for two “healthy school meals” pilot programs.
Topping the Westly list with more winners of green Recovery Act funds, Amonix, Amyris Biotechnologies, EdenIQ, RecycleBank, and Solexel, which are all part of Kleiner Perkins greentech portfolio, and you’ve got a DOE Advisor that we can now label as the “Green Golden Boy.”
Vantage Point Capital Partners
That may be true (although I’d like to see the proof), but Wagle was part of the September 22, 2009, Valerie Jarrett “CLEAN ENERGY SUMMIT” held at the White House, whereas “attendees [had] struck gold, cashing in on $5.3 billion in taxpayer funds from the Obama administration.” This was as of June 5, 2012, but I found much more.
In my last post about GE, I shared a set of DOE emails that revealed pressure by the White House (specifically, Vice President Joe Biden, who was supposed to be the Stimulus Sheriff) in the Shepherds Flat wind project in Oregon (Caithness Shepherds Flat, LLC). However, last summer, I divulged that after the huge $1.3 billion DOE loan was finalized in December 2010, four months later, another close associate of, and big donor to the president invested in Caithness.
Enter in Google…
As uncovered in Peter’s Book, “Google’s CEO at the time, Eric Schmidt, served as an informal advisor to President Obama.” Still, Schmidt, Google Executive Chairman, was an Obama donor in 2008, and since April 2009, is a member of the president’s Science and Technology Advisory Council (PCAST). In fact, Google’s $814,540 contribution to Obama’s campaign made it the fifth largest donor in 2008, and in 2012 moved up to the number three spot with a whopping $805,119.
Another Google connection is Dan Reicher, director of climate and energy initiatives at Google, was one of the founders of Cleantech and Green Business Leaders for Obama. While there are other interesting folks behind the Google scenes, John Doerr has served as a member of Goolge’s board of directors since May 1999.
Furthermore, according to Michelle Malkin, ” Google cofounder Sergey Brin, Chief Legal Officer and Senior Vice President David Drummond, and Google Vice President and Chief Internet Evangelist Vint Cerf are all vocal Obama supporters and top donors.”
As of late, Google has aimed its “search engines” at green technology, many of which have received government help –– BrightSource, Solar City, Telsa Motors, and others. In fact, Google Ventures, Energy Investments list include (d): CoolPlanetBioFuels, Amprius, Clean Power Finance, Nest, Next Autoworks, Silver Spring Networks, and Transphorm, the latter six are also part of Kleiner Perkins greentech portfolio with four verified Recovery Act winners.
You can bet your bottom dollar, if you have one left, that we’ll find tons more green-energy funds inside these fat cats’ treasure chests, especially since the DOE continues to hand out checks. Furthermore, in an interview for TIME’s Person of the Year award, President Obama said “the economy, immigration, climate change and energy would be at the top of his agenda for the next four years.” So, if our president gets his way with more stimulus and/or renewable energy funds (and he will, just watch for the sales pitch, “invest”), this Elite Green Group will be there with their hand out for more corporate welfare checks, and President Obama will oblige –– after all they got him elected in 2008 and re-elected in 2012, political payback.
Obama Cronies, John Doerr and Al Gore:
- KPCB Green Growth Fund: 57% confirmed 2009-Recovery Act winners (8 of the 14 listed).
- Total Greentech Portfolio: over 50% confirmed 2009-Recovery Act winners (36 of the 66 listed), of which I calculated close to $1 BILLION of taxpayer money from the 2009-Recovery Act went directly to KPCB Greentech Portfolio
- KPCB is tied to over $9 BILLION of Obama approved DOE loans and 2009-Recovery Act funds
- Through Al Gore’s UK-based Generation Investment Management (GIM): Abengoa received three loans from the DOE 1705 Loan Guarantee Program totaling close to $2.8 BILLION/ and lately snagged $150 million from the Export-Import Bank of the United States –– a story Marita and I told last summer: “How Democrats Say “Crony Corruption” in Spanish: Abengoa“
- Also through GIM, there’s “The First Solar 3 BILLION Dollar Swindle,” which includes three large solar projects, and casts plenty more shady characters (Obama bundlers and top donors) in the green-deal making process –– a story Marita and I exposed in July 2012.
- Kleiner Perkins “nuclear buddy” AREVA (Ausra Inc., also a GIM investment, acquired by the French company AREVA February 8, 2010) and its $2 billion “POTUS approved” loan. Plus Ausra, now Areva Solar Inc. was awarded close to a $14 million 1603 grant for “solar electricity” in California two weeks later, February 26, 2010.
- Silver Spring Networks and OPower are tied to $1.3 BILLION of the Recovery Act Smart-Grid Grants.
KPCB Green Growth Fund:
- Clean Power Finance**
- Enphase Energy, Inc.**
- e-Recycling Corps
- friedola®TECH –– interesting tidbit
- INRIX –– plenty of action with departments of transportation and other agencies
- LT Lehigh Technologies
- Silver Spring Networks$
- TAS Energy$ –– contract with huge DOE 2009-Stimulus loan winner, U.S. Geothermal
- UpWind Solutions
- Agrivida** –– $5.5 million from the ARPA-E and $2 million for the USDA, both are part of the 2009-Stimulus
- Alta Devices** –– $3 million from the SunShot Initiative funded by the 2009-Stimulus
- AltaRock** –– $25 million grant from the 2009-Stimulus, plus $1.45 million/ $6 million for their CA project NOTE: They also got $36 million in grants from the Bush administration
- Amonix** –– over $20 million in federal tax credits and grants, $15.6 million grant from the Bush administration and a $5.9 million investment tax credit from the 2009-Stimulus via the SunShot Initiative
- Amprius** –– $3 million from the National Institute of Standards and Technology’s (NIST) Technology Innovation Program (TIP), funded by the 2009-Stimulus. And $5 million from the DOE’s Vehicle Technologies Program funded by the 2009-Stimulus
- Amyris Biotechnologies** –– $25 million grant from the 2009-Stimulus
- Aquion Energy ** –– $5 million grant via the 2009-Stimulus
- Ausra Inc.# –– indirectly tied to AREVA’s $2 Billion DOE 1703 Loan Guarantee
- Bloom Energy# –– Bloom and its customers received $218.5 million in subsidies in 2010 from the state of California, and at least a $5 million grant from the National Renewable Energy Lab most likely under the Bush administration
- Clean Power Finance** –– at least $4.5 million in grants from the DOE’s SunShot Initiative funded by the 2009-Stimulus
- EdeniQ** –– more than $20 million grant via the 2009-Stimulus, plus $3.9 million from the state of California
- Enlighted$ –– involved in projects funded by the 2009-Stimulus, amount unknown
- Enphase Energy, Inc.** and Transphorm Inc. –– collectively received over $9 million in grants from ARPA-E program funded by the 2009-Stimulus
Fisker Automotive** –– $529 million DOE ATVM Loan Guarantee, funds increased by the 2009-Stimulus / Plus a $21.5 million loan/grant from the state of Delaware
- FloDesign Wind Turbine** –– over $8 million grant from the 2009-Stimulus / over $4 million funding from the state of Massachusetts
- GMZ Energy** –– $8 million from the DOE’s Vehicle Technologies Program funded by the 2009-Stimulus / $11 million from the DOE and DARPA, date unknown
- GreatPoint Energy# –– listed in Peter’s Book, however amount unknown /yet they may be part of projects that received 2009-Stimulus funds
- Hara Software, Inc.$ –– listed in Peter’s Book / amount unknown, but I found a couple of projects, which they are involved in that may be funded by the 2009-Recovery Act / July 2009, CEO part of a group that advised President Obama, and will go gangbusters if and when they pass cap-and-trade
Harvest Power** –– listed in Peter’s Book / amount unknown, but they are part of a project that received money from the 2009-Stimulus
- Lilliputian Systems –– listed in Peter’s Book, but I can’t confirm or dispute anything on this
- Mascoma Corporation** –– In 2011, at least $80 million from the Office of Energy Efficiency & Renewable Energy EERE, of which we know that the “2009 Recovery Act,” awarded the Office of Energy Efficiency (EERE) $16.8 billion for its programs and initiatives. (In 2008, close to $1 million from the state of Minnesota. Close to $200 million from 2006 to 2008 under the Bush administration).
- MiaSole** –– $101.8 million tax credit via the 2009-Stimulus
- OPower$ –– indirectly benefiting from the $4 billion of smart grid grants doled out by the DOE as part of the 2009-Stimulus
- OSIsolf#$ –– 2009-DOE grant (s) for an unknown amount / contract with 2009-Stimulus winner Sapphire Energy that received $100 million.
- Primus Power** –– about $2 million grants from the Advanced Research Projects Agency-Energy (ARPA-E) paid for by the 2009-Stimulus
- Proterra** –– $6.6 million grant from the Department of Transportation via the 2009-Stimulus funds; plus speculation of millions more via other federal and state programs
- QuantumScape** –– about $1.5 million grant via the 2009-Stimulus
- RecycleBank** –– at least $1.5 million in grants via the 2009-Stimulus / possibly more
- Silver Spring Networks$–– indirectly benefiting from the $4 billion of smart grid grants doled out by the DOE as part of the 2009-Stimulus (calculations: over $1.3 billion in smart-grid grants went to Silver Spring customers)
- SinoEv Technologies** –– $2.6 million from the Advanced Research Projects Agency-Energy (ARPA-E) paid for by the 2009-Stimulus
- Solasta# –– $2.7 million grant from the DOE, not sure if it came from the 2009-Stimulus
- Solexel** –– $13 million award from the SunShot Initiative funded by the 2009-Stimulus
- Solidia Technologies# –– proud winners of two grants (amount unknown), one from the DOE and the other from the state of New Jersey, however unsure if it came from the 2009-Stimulus
- SundropFuels# –– all kinds of goodies (grants) from the state of Louisiana, unsure if they were funded with the 2009-Stimulus
- TANG Energy –– not the surgery, unhealthy drink that went to the moon; however, we have quite the U.S./China Green-Energy Cronyism Drama tucked away in this part of the story. And while I can’t confirm direct stimulus funds, there are obvious 2009-Stimulus incentives, plus more.
- TAS Energy, Inc.$ –– contract from U.S. Geothermal that received a $97 million loan via the DOE 1705 Loan Guarantee Program, implemented by the 2009-Stimulus
- Transphorm Inc.** –– listed with Enphase Energy, where they collectively received over $9 million in grants from ARPA-E program funded by the 2009-Stimulus
- Verdiem$ –– government stimulus money and mandates stimulated corporate and government customers
This was Part Two, The Green Five: Spreading the Wealth to Obama’s Ultra-Rich Jobs Council Members, where I have covered two of the five –– stay tuned for the other three…
- Billionaire Penny Pritzker, according to Forbes, is “an heir to the Hyatt Hotel and Pritzker family fortune, was a key fundraiser for Barack Obama’s presidential run in 2008, and was talked about as a favorite for Commerce Secretary.” Pritzker Family Green Money: at least $465 million
- Lewis “Lew” Hay, III is executive chairman of NextEra Energy, Inc., and it is estimated byForbes, that CEO “Hay earns nearly $10 million in total compensation from NextEra.” NextEra Energy Green Money: at least $2.3 billion
- Richard Dean “Dick” Parsons, Former Chairman of the Board of Citigroup, Inc. (from 2009 until he announced stepping down in March 2012) is also part of the multimillionaire club. Parsons was also the former CEO of Time Warner, and was listed on the “near misses” of Forbes’ 2009 The Wealthiest Black Americans. It’s widely known that “Too Big to Fail” Citigroup was a TARP recipient, $45 billion in government bailout funds. However, contrary to Obama distancing himself from Wall Street and Big Banks, Citigroup was the #7 Top 2008 Obama donor in the amount of $736,771, and the he a “close buddy” to quite a few former Citigroup executives. Citigroup Green Money: at least $1 billion, and counting…
This was a nightmare post, so please forgive any typos or grammatical errors, and if I missed any transactions feel free to email me at email@example.com, and I’ll confirm and update.
Christine Lakatos is the mother of two awesome daughters, diet book author, ACE Certified fitness expert, and post at Fitness Flash. her new venture –– ferocious researcher and “Green Corruption” blogger. She is also a retired athlete, fitness competitor and American Gladiator’s contestant, plus more. Full bio>
Also please consider:
Help Make A Difference By Sharing These Articles On Facebook, Twitter And Elsewhere: