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Gambling On Amonix

- July 18, 2012

An Obama-Westly Joint Venture Closes Its Doors In Vegas

AFTER MASSIVE SUBSIDIES, THE AMONIX PLANT IN NORTH LAS VEGAS CLOSES AFTER LAYOFFS EARLIER THIS YEAR

TODAY: “Amonix Solar Manufacturing Plant In North Las Vegas, Heavily Financed Under An Obama Administration Energy Initiative, Has Closed Its 214,000-Square-Foot Facility 14 Months After It Opened.” (Hubble Smith, “Amonix Closes North Las Vegas Solar Plant After 14 Months, Heavy Federal Subsidies,” Las Vegas Review-Journal , 7/18/12)

Amonix Inc. Already Announced In January 2012 That It Would Lay Off 200 Of Its Employees At Its North Las Vegas Solar Power Manufacturing Plant. “Just seven months after California-based solar power company Amonix Inc. opened its largest manufacturing plant, in North Las Vegas, the company’s contractor has laid off nearly two-thirds of its workforce. Flextronics Industrial, the Singapore solar panel manufacturer that partnered with Amonix to staff the new $18 million, 214,000-square-foot plant, laid off about 200 of its 300-plus employees Tuesday.” (Justin M. Bowen, “Some 200 Laid Off At North Las Vegas Amonix Solar Plant,” Las Vegas Sun, 1/26/12)

The Obama Administration Gave Steve Westly’s Amonix $20 Million In Grants And Tax Credits

On January 8, 2010, President Obama Announced A $5,889,149 48c Advanced Manufacturing Tax Credit For Amonix’s Las Vegas Facility And A $3,629,998 48c Advanced Manufacturing Tax Credit For Amonix’s Phoenix Facility. (The White House, Accessed 7/13/12)

On March 22, 2011, Amonix Received A $355,056 Grant Through The 1603 Program. (Department Of Treasury, Accessed 7/13/12)

On April 26, 2011, Amonix Received A $2,079,827 Grant Through The 1603 Program. (Department Of Treasury, Accessed 7/13/12)

On May 24, 2011, Amonix Received A $5,276,414 Grant Through The 1603 Program. (Department Of Treasury, Accessed 7/13/12)

On September 1, 2011, Amonix Was Awarded A $4,474,000 Award Through DOE’s Sunshot Initiative. (Department Of Energy, 9/1/11)

OBAMA AND HIS ADMINISTRATION LAUDED AMONIX WHILE PROMISING IT WOULD CREATE HUNDREDS OF NEW JOBS

In July 2010, Obama Said That The Only Problem With The Tax Credits He Gave Amonix Was “These Credits Were Working So Well, There Aren’t Enough Tax Credits To Go Around.” OBAMA: “A solar panel company -- a solar power company called Amonix received a roughly $6 million tax credit for a new facility they’re building in the Las Vegas area -– a tax credit they were able to match with roughly $12 million in private capital. That's happening right now. And that’s just one of over, that's just one of over 180 projects that received manufacturing tax credits in over 40 states. Now, here’s the -- the only problem we have is these credits were working so well, there aren’t enough tax credits to go around. Now, here’s the -- the only problem we have is these credits were working so well, there aren’t enough tax credits to go around. There are more worthy projects than there are tax credits. When we announced the program last year, it was such a success we received 500 applications requesting over $8 billion in tax credits, but we only had $2.3 billion to invest. In other words, we had almost four times as many worthy requests as we had tax credits.” (President Barack Obama, Remarks At University Of Las Vegas , Las Vegas, NV, 7/9/10)

In June 2011, Secretary Chu Points To Amonix As An Example “That Will Really Propel Us Forward To Create Jobs, To Create Prosperity, And To Create Green Energy.” JIM SNYDER, ANCHOR FOR KSNV: “A solar power success story brought the Secretary of Energy to Southern Nevada today. Steven Chu stopped by the north Las Vegas production facility for Amonix, which makes large-scale solar panels, the big ones. The stimulus gave the company a six million dollar tax credit to build the factory, which today employs more than three hundred locals. CHU: It’s companies like this and its programs that we’re trying to do here that will really propel us forward to create jobs, to create prosperity and to create green energy. SNYDER: Over the past two and a half years, the Department of Energy has invested more than four hundred forty million dollars to support roughly eighty solar projects in Nevada. The Department says the money has helped create or save hundreds of jobs here in our state.” (NBC News 3 KSNV, Las Vegas, NV Posted On Youtube by Amonix 6/1/11)

In September 2010, The Obama Administration Said The Las Vegas Plant Would Create 270 Jobs In A Report Titled “100 Recovery Projects That Are Changing America.” “When completed in the first half of 2011, the Nevada facility is expected to create about 270 new jobs.” (“100 Recovery Act Projects That Are Changing America,” The White House, September 2010)

In August 2010, The White House Said That Amonix Was Expected To Create “Hundreds Of Workers” By Using Its Stimulus Funds To Expand Their Las Vegas Plant. “The 201 small businesses selected today, which include $73 million in Recovery Act investments, are now among many past SBIR and STTR recipients who have successfully scaled their innovations to market. For example, past SBIR recipient A123 Systems has grown into a leading manufacturer of cutting-edge lithium-ion batteries and is now expanding its manufacturing base in Michigan, and another past SBIR winner, Amonix, is growing its concentrating PV manufacturing capacity in Nevada, which is expected to employ hundreds of workers.” (Kristina M. Johnson, “How the Recovery Act is Affecting Small Business Innovation,” The White House, 8/2/10)

WESTLY’S INSIDER ACCESS HAS EARNED HIS COMPANIES OVER $500 MILLION IN TAXPAYER FUNDS BUT AMERICANS WILL HAVE TO COVER HIS AMONIX LOSSES

Westly’s Venture Capital Firm Has “Received More Than Half A Billion Dollars In Loans, Grants Or Stimulus Money From The Obama Energy Department …” “All the while, Westly’s four-year-old green business has boomed. Since June 2009, four companies in his venture firm’s portfolio have received more than half a billion dollars in loans, grants or stimulus money from the Obama Energy Department, a review by the Center for Public Integrity and ABC News has found.” (Ronnie Greene and Matthew Mosk, “Green Bundler With The Golden Touch,” Center For Public Integrity & ABC News, 3/30/11)

  • “Relatively Few Companies Succeed In Winning Such Benefits. More Than 90 Percent Of Applicants Have Failed To Secure Funding In Two Programs Benefiting Three Westly-Backed Firms.” (Ronnie Greene and Matthew Mosk, “Green Bundler With The Golden Touch,” Center For Public Integrity & ABC News, 3/30/11)

Tesla Motors

On January 27, 2010, Tesla Motors Received A $465 Million Loan From The Department Of Energy. (Energy.gov, 1/27/10)

Obama’s Proposal To Offer A $7,500 Rebate On The Purchase Of Electric Vehicles Was A “Prized Jewel For Westly.” “This February came perhaps the prized jewel for a Westly investment, when the Obama administration proposed to stimulate sales of electric cars by offering consumers a $7,500 federal rebate at the dealer.” (Ronnie Greene and Matthew Mosk, “Green Bundler With The Golden Touch,” Center For Public Integrity & ABC News, 3/30/11)

  • “Stock In Tesla, The Silicon Valley Electric Car Maker That Went Public Last Year, Rose 6 Percent With The News.” (Ronnie Greene and Matthew Mosk, “Green Bundler With The Golden Touch,” Center For Public Integrity & ABC News, 3/30/11)
  • “Westly Sat On Tesla’s Board For More Than Two Years, And Though His Firm Recently Sold Its Nearly 2.5 Million Shares, He Personally Remains A Shareholder.” (Ronnie Greene and Matthew Mosk, “Green Bundler With The Golden Touch,” Center For Public Integrity & ABC News, 3/30/11)
  • Steve Westly On His Tesla Investment: “When The Government Invested I Believe The Stock Was At $3 A Share, I Checked It Today It Was At $34. This Is Not Bad.” (Steve Westly, Remarks At Stanford Institute For Economic Policy Research, Stanford, CA, 3/9/12)

Amyris Biotechnologies, CalStar Products, Solexel, EdenIQ, And Recycle Bank Received A Total Of $60 Million

On December 28, 2009, Amyris Biotechnologies Received A $24,341,409 Stimulus Award To Develop Advanced Biofuels. (Recovery.gov, Accessed 7/16/12)

On January 8, 2010, President Obama Announced A $2,442,547 Grant For CalStar Products’ Wisconsin Facility. (The White House, Accessed 7/16/12)

On March 30, 2010, EdenIQ And Logos Technologies Received A $20,455,849 Stimulus Award For A Corn-To-Cellulosic Migration Biofuel Pilot Plant. (Recovery.gov, Accessed 7/16/12)

On Sept 1, 2011, Solexel Awarded $12,967,000 Million Through The DOE SunShot Program. (Department Of Energy, Accessed 7/16/12)

RecycleBank Was Paid $708,400 Through The Stimulus Program As Part Of A Contract With The City Of Philadelphia To Put Radio Receivers On Recycling Bins . (“Grants – Awards Summary; Philadelphia, City Of, Award# DE-EE0000927,” Recovery.gov , Accessed 7/16/10)

  • A Similar Program In Cleveland Fines Tracks Your Recycling Habits And Fines “Non-Recyclers” Up To A $100 . “It would be a stretch to say that Big Brother will hang out in Clevelanders' trash cans, but the city plans to sort through curbside trash to make sure residents are recycling -- and fine them $100 if they don't. The move is part of a high-tech collection system the city will roll out next year with new trash and recycling carts embedded with radio frequency identification chips and bar codes.” (Mark Gillespie, “High-Tech Carts Will Tell On Cleveland Residents Who Don't Recycle ... And They Face $100 Fine,” The Cleveland Plain Dealer, 8/20/10)

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