MAY 31, 2012
JUNE 1, 2012
A Bay State solar panel developer that landed a state loan from Mitt Romney when he was Massachusetts governor has gone belly up — a day after the GOP presidential hopeful ripped President Obama’s green-energy investments.
Lowell-based Konarka Technologies announced late yesterday that it filed for Chapter 7 bankruptcy protection and will cease operations, lay off its 85 workers and liquidate.
A Romney spokesman could not be immediately reached for comment.
In its 11-year history, Konarka collected a total of $20 million in government research grants, along with $170 million in private capital. The company makes thin, flexible solar panels that its customers build into other products such as deck umbrellas, backpacks and portable chargers.
Konarka has fallen into the same bankruptcy shadow cast by Bay State clean-energy crashes Evergreen Solar and Beacon Power, both backed by controversial taxpayer subsidies.