Solyndra, remember them? The bankrupt green energy company that owes tax payers 500 Million dollars? This story was released in late January and it flew under the radar.
Well a CBS 5 exclusive found out that they were destroying 2 Million dollars worth of specialized glass tubes that are used in solar panels.
Heritage Global Partners is in charge of selling off Solyndra’s assets and they said "no one wanted them" in reference to the glass tubing. And they also said that the cost of housing them exceeded their value.
If they were an unwanted asset and it costs so much to house them, why did they spend 8 million dollars for them to begin with. Wouldn’t the engineers have told purchasing at some point in the process that it was not a good value?
But as CBS5 discovered, the truth is that they never put them up for auction. A university professor asked for them to be donated to Santa Clara University and was ingored.
If these assets could have been sold, that amount of money could have been used to pay back their debts.
Here are some other clean energy fails.