Tech company headed by former CEO of bankrupt Solyndra to receive $6.6 billion from Biden admin
Just the News | 4/9/24 | Kevin Killough

A semiconductor company whose president was head of the now-bankrupt Solyndra solar energy company stands to receive $6.6 billion in funding from the Biden administration.

Under a preliminary agreement, according to CNBC, a subsidiary of Taiwan Semiconductor Manufacturing Co. (TSMC) in Arizona will receive the funding under the U.S. CHIPS and Science Act.

The company’s president is Brian Harrison.

The Washington Free Beacon reported that Harrison was CEO of Solyndra, which in the early 2000s was involved in the manufacturing of solar panels and considered at the forefront of the sustainable energy industry.

Excerpt from Wikipedia:

“The [taxpayer-funded] loan program took a $528 million loss from Solyndra.”

That’s in the neighborhood of 10% for the big guy.

The Obama administration had selected Solyndra as the first to receive a loan under an Energy Department program designed to provide government support to companies that would create jobs while generating energy from cleaner sources, such as solar, wind and nuclear. President Obama personally visited the Solyndra complex, hailing it as a leader in this emerging field.

In August [2011], though, Solyndra abruptly shut its doors, laying off 1,100 workers. Within days, it had declared bankruptcy. The House Energy and Commerce Committee’s investigative subcommittee has held two hearings intending to unwind the deal and understand how signs of Solyndra’s financial trouble had been overlooked by the Department of Energy.

In a few hundred years, the results of those hearings.