OF COURSE: Another Green Energy Company BITES THE DUST

SWACO

Like Solyndra, another green energy company is calling it quits, this time in Ohio. If this industry is as viable as progressives suggest, why do so many of these companies go out of business?

Bizjournals reports:

SWACO pulls the plug on recycling/green energy venture

The project to usher Franklin County to a zero-waste future is dead.

The Solid Waste Authority of Central Ohio has terminated a 3-year-old development agreement and evicted a private company that had planned a recycling facility and green energy park to divert waste from the Franklin County Landfill.

The holding company behind the project, Team Gemini Project Cardinal LLC, did not pay its $350,000 rent for this year by Tuesday’s deadline and its contractor has already vacated the construction site, according to the eviction notice sent Wednesday.

Rent is due each January and SWACO sent a default notice in February.

“They abandoned the site before we took any action to terminate the contract,” SWACO Executive Director Ty Marsh told me. “There are outstanding (road construction) bills yet to pay.”

Messages seeking comment were left with the holding company’s majority owner for the past year and the company that originally proposed the project.

They stiffed their landlord on the rent too?

How progressive.

(Image:Source)


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