Sometimes, you just don't want anyone to know what's happening. That's how Smith Electric Vehicles must have felt about stopping production of its all-electric delivery trucks in Kansas City, MO late last year. There was no press release issued and even the local newspaper, The Kansas City Star, didn't find out about the shutdown until a new quarterly filing was just submitted to the US Department of Energy.
Looks like things that were bad with Ener1 (and the Think City electric car) are about to go to worse. After a string of bad news (see here, here, here and here), the latest shoe to drop is the news that the NASDAQ suspended Ener1 from the stock exchange. The fight has apparently gone out of Ener1, since the company said it has no plans to appeal and will thus be permanently delisted from NASDAQ. The stock (previously HEV and now HEVV), which used to trade at over $4 a share, will now be "penny-
To support President Obama's goal of reducing America's oil imports by a third by 2025, the U.S. Department of Energy (DOE) announced that it will accept applications for $12 million in funding for laboratory or small pilot-scale projects aimed at developing advanced biofuels. Successful projects will focus on technologies that enable biofuels to directly replace gasoline, diesel or jet fuels without modifications to vehicles or to the fueling infrastructure.
It seems like this story replays itself time and again. Some company is awarded a bunch of money from the federal government for advanced battery technology and claims that its breakthroughs will lead to yada yada yada. We've heard it many times, too, but it would be unfair not to give props when due, right?