Flashback: Drunk on Sunshine
A mere seven months ago, the Denver Business Journal quoted Abound Solar President and CEO Craig Witsoe bragging that his thin-filmed cadmium telluride solar panel manufacturing company was the “anti-Solyndra,” referring to the scandalous and abrupt bankruptcy of the California-based thin-filmed manufacturer that saw the FBI raid its luxurious taxpayer-supported headquarters.
Cathy Proctor of the DBJ further reported that Abound was “doing well and growing,” according to Witsoe. Proctor also quoted solar industry experts who said Abound had “a good chance of competing in the market” assuming it could lower the cost of its panels.
And Eric Wesoff of GreenTech Media reiterated the Abound as the anti-Solyndra theme, “They’re not Solyndra. Solyndra spent money like a drunken sailor, and it doesn’t seem like Abound is doing that.”
With today’s bankruptcy announcement, Abound turns out to be nothing more than another failed solar manufacturer that got drunk on the promise of sunshine and easy (taxpayer) money.