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Why green energy startups are now ‘toxic’
Via CNN Money
Green energy startups are feeling the sting of rejection by investors concerned about falling energy prices and the future of government support.
The boom in natural gas has hurt the competitiveness of alternative energy. And proposed budget cuts would force the government to dial back support of wind farms, solar panel manufacturers, ethanol producers and makers of alternative fuel cars.
In response, investors say they won’t lend money to green energy companies, especially startups, because they haven’t proven they can be profitable on their own.
Rosa McCormick, managing director of Wild Basin Investments in Austin, Texas, said that’s particularly true for doomed solar panel makers, such as Solyndra and Abound Solar. U.S. companies can’t lower prices enough to compete with solar panels imported from China, which provides big subsidies.
[Full story here]
Curated by Phin Upham