Department of Energy

Despite sometimes making the “wrong bet” Senator Levin supports renewable energy subsidies

Lindsey Smith — Fri, 26 Oct 2012 00:30:04 +0000

US Senator Carl Levin says the federal government needs to invest in renewable energy companies, even if those investments sometimes go bad. Levin made the remarks during a visit to Grand Rapids Community College today.

Battery maker A123 files for bankruptcy protection

The Associated Press and Lindsey Smith — Tue, 16 Oct 2012 14:25:32 +0000

DETROIT (AP) - The U.S. operations of electric car battery maker A123 Systems filed for bankruptcy protection and its automotive assets are being acquired by Johnson Controls for $125 million.

The announcement Tuesday comes one day after A123 warned in a regulatory filing that it likely would miss some debt payments and could be headed for bankruptcy court.

A123, based in Waltham, Mass., got a $249 million U.S. government grant to help it build a battery factory in Michigan.

Russian steelmaker gets US loan for Michigan plant

The Associated Press — Wed, 13 Jul 2011 16:36:36 +0000

DETROIT (AP) - The U.S. Energy Department says it has loaned $730 million to the North American arm of one of Russia's largest steel companies to modernize its Detroit-area plant.

The government and Severstal North America on Wednesday officially announced plans to upgrade and expand facilities in Dearborn that make steel for the auto industry. They say the project will employ around 2,500 construction workers and create 260 factory jobs.

The money comes from a $25 billion low-interest loan program created in 2007 to help car companies retool older factories to build green cars.

Severstal bought the Dearborn factory in 2004.