In his 2012 State of the Union address, President Barack Obama mentioned a lab technician at Michigan’s Energetx Composites company as an example of someone who had a job on subsidized alternative energy. government.
This employee was seated with the First Lady, and the mention of this employee was reported at that time by a number of media outlets including Holland Sentinel, MLive, WDIV, WWJ, Michigan Radio, Lansing State Journal, Detroit Free Press , Macomb Daily. and the Detroit News.
Energetx received a $ 3.5 million grant from the US Department of Energy’s State Energy Program to produce large-scale wind turbines.
âThanks to federal investments, renewable energy use has almost doubled and thousands of Americans have jobs because of it,â Obama said at the time.
But just three years later, Energetx filed for bankruptcy, which was not reported by the mainstream press.
Energetx Composites has produced large-scale wind turbines and was named a Center of Energy Excellence by Governor Jennifer Granholm in 2010. It has received state and federal funding for the creation of green energy.
“Energetx’s products have the potential to revolutionize the way wind turbine blades are made, helping to position Michigan as the center in North America for advanced green manufacturing,” Granholm said in a press release from 2010.
The Michigan Economic Development Corporation, the state’s primary office for grant distribution, has designated Energetx a Renewable Energy Renaissance Zone. This gave him exemption from most taxes for 15 years, valued at over $ 27 million. The governor said the company would create up to 700 jobs and generate $ 18.4 million in private investment. But even after receiving a total of $ 7 million in grants from the state and the US Department of Energy, the company filed for bankruptcy in 2015.
According to the Holland Sentinel, the company’s contract for the renaissance zone designation was terminated in 2012 after it missed a deadline to innovate. Energetx officials said they were unable to receive loans from the bank to build a facility and were looking at other locations at the time.
But one of the few mentions of the company in a search after 2012 was a bankruptcy notice in 2015. A LinkedIn account for the company is still active and says it employs 50 to 200 employees. But the company’s website link displays an error message, suggesting that its content has been removed.