Texas Emerging Technology Fund recipient files for bankruptcy
AUSTIN – An energy storage company that received public funds from Gov. Rick Perry’s Emerging Technology Fund and President Barack Obama’s administration has filed for bankruptcy.
As reported by greentechmedia.com, Xtreme Power, Inc. has hired a New York firm to find a purchaser as it attempts to reorganize.
In March, 2007, the governor’s office announced a $2 million award to the Kyle-based company to develop a system to store and deliver large quantities of electric power.
Created in 2005 at Perry’s urging, the tech fund uses tax dollars to help high-tech start-ups.
More at http://watchdogblog.dallasnews.com/2014/01/texas-emerging-technology-fund-recipient-files-for-bankruptcy.html/ .
[font color=green]Another affirmation of Gov. Perry's economic policies. I hope that there is minimal disruption among the employees.[/font]
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