A Lowell-based solar technology company that received $1.5 million in state loans when Mitt Romney was governor has filed for bankruptcy, opening the presumptive Republican presidential nominee to charges of hypocrisy.
Konarka Technologies disclosed Friday that it had filed for Chapter 7 bankruptcy protection and would fire its 80-member staff and liquidate its assets.
Romney has chided President Obama for investing $535 million in a different solar company that failed, and has insisted governments should not pick winners and losers in the private sector. He held a press conference at the Fremont, Calif., headquarters of that company, Solyndra, last Thursday, saying, "Free enterprise to the president means taking money from the taxpayers and giving it freely to his friends.''
In January 2003, shortly after taking office in Massachusetts, Romney held press conference - at Konarka, where he announced a plan to loan $24 million from the state's renewable energy trust fund to startups with the potential to create jobs.
"The trust fund has been growing for years,'' Romney said at the time, "and I believe now is the time to refocus its assets in such a manner that it can become a major economic springboard for the Commonwealth by focusing on job creation in the renewable energy sector.''
keyboard shortcuts: V vote up article J next comment K previous comment