solar farm; stock photo
A green energy company that received millions of dollars from the Biden Regime is failing.
Shares of SunPower, a California-based residential solar company, plunged on Monday as the company warned it may not survive.
“Shares of SunPower Corporation (SPWR) are falling over 35% Monday morning after a recent regulatory filing showed the company felt there was “substantial doubts” about whether or not it could continue to operate. In addition, the company breached a key term in a credit agreement that could prompt lenders to recall certain loans.” Yahoo Finance reported.
SunPower received millions of dollars from the Biden Regime over the past year.
“Last summer the Department of Energy (DOE) gave it a $6.7 million grant and earlier this year it received a $1.4 million contract from the National Aeronautics and Space Administration (NASA). This week SunPower shares are down sharply following a Securities and Exchange Commission (SEC) filing warning of “substantial doubt” about its ability to continue operating.” Judicial Watch reported.
Recall that SunPower received taxpayer money during the Obama years.
Obama spent at least $39 billion a year on his green energy projects, according to the Institute for Energy Research.
At least 36 of Obama’s taxpayer-funded green energy projects