US solar panel manufacturer’s, Solyndra, has announced that it will file for Chapter 11 bankruptcy protection, after failing to successfully compete against lower-cost solar panel manufacturers in China.
This was the beginning of a bad week for the environment in the United States, being capped off at the end on Friday with an announcement by President Obama that he would be halting a move towards stricter air quality laws. The Department of Energy had provided Solyndra with over half a billion dollars in the last stimulus package.
Solyndra plans to take a look at some options that could include a sale of its business and licensing of its technology. It also said that 1,100 full-time and part-time employees will be laid off immediately.