A123's cash burn another black eye for green tech

DETROIT (Reuters) - Once a high-flying green technology company, battery maker A123 Systems Inc on Friday told investors it has about five months of cash left to fund operations, adding to woes for a sector short on results and long on government loans.

The company, which received a $249 million grant from the Obama administration as part of a program to develop advanced lithium-ion batteries, said in documents filed with U.S. regulators that it “expects to have approximately four to five months of cash to support its ongoing operations” based on its recent monthly spending average.

Its shares fell almost 11 percent despite A123’s announcement of moves to raise $39 million.

finance.yahoo.com/news/a123s-cash-burn-another-black-223041928.html

Another Obama’s failed green initiative.

The sad thing is, all this money being wasted and the planet does need saving. The reality is that the world has never been in better shape. It doesn’t need saving.

What, another one bites the dust ?
I’m SHOCKED, SURPRISED, AND STUNNED ! :rolleyes:

Dayum - they make good motorbike batteries!:mad:

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