{"id":476121,"date":"2010-03-26T09:14:17","date_gmt":"2010-03-26T13:14:17","guid":{"rendered":"http:\/\/www.earthportal.org\/news\/?p=3238"},"modified":"2010-03-26T09:14:17","modified_gmt":"2010-03-26T13:14:17","slug":"doe-denies-321m-loan-to-la-green-car-plant","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/476121","title":{"rendered":"DOE denies $321M loan to La. green car plant"},"content":{"rendered":"<p><a href=\"http:\/\/www.nola.com\/politics\/index.ssf\/2010\/03\/post_331.html\" ><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/media.nola.com\/politics\/photo\/v-vehicle-plantjpg-8b995ab70f942228_large.jpg\" width=\"290\" align=\"left\" height=\"191\" \/><\/a><a href=\"http:\/\/eenews.net\/Greenwire\/2010\/03\/25\/12\/\" >Greenwire<\/a>: The <a href=\"http:\/\/www.eoearth.org\/contributor\/doe\">U.S. Department of Energy<\/a> has rejected a $321 million loan  application by San Diego-based V-Vehicle Co., which had already taken  millions of dollars in state incentives to build a plant in Louisiana.<\/p>\n<p>The agency sent a letter questioning whether the company would be  financially viable, V-Vehicle spokesman Joseph Fisher said. V-Vehicle  intends to return the $6.2 million it had previously received from  Louisiana and will now examine whether to raise more investment capital.<\/p>\n<p>Gov. Bobby Jindal (R) had touted V-Vehicle&#8217;s proposed plant in  Monroe as one of the state&#8217;s largest economic development opportunities,  but DOE&#8217;s review of the loan application for the plant caused the  company to miss a March 1 deadline for another $80 million in state  incentives.<\/p>\n<p>&#8220;This is certainly disappointing and surprising news,&#8221; Jindal said.<\/p>\n<p>The company has remained tight-lipped about its technology, claiming  the fuel economy of its cars would &#8220;dramatically exceed any electric  vehicles or any hybrid vehicles.&#8221;<\/p>\n<p>&#8220;We were extremely surprised and disappointed by this decision,&#8221;  said Frank Varasano, the company&#8217;s CEO. &#8220;Our year-long discussions with  the Department of Energy had left us confident and optimistic that the  loan applications would be approved&#8221; (Robert Travis Scott, <a href=\"http:\/\/www.nola.com\/politics\/index.ssf\/2010\/03\/post_331.html\" >New  Orleans <em>Times-Picayune<\/em><\/a>, March 24). <strong>&#8211; GN<\/strong><\/p>\n<p class=\"akst_link\"><a href=\"http:\/\/www.earthportal.org\/news\/?p=3238&amp;akst_action=share-this\"  title=\"E-mail this, post to del.icio.us, etc.\" id=\"akst_link_3238\" class=\"akst_share_link\" rel=\"nofollow\">Share This<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Greenwire: The U.S. Department of Energy has rejected a $321 million loan application by San Diego-based V-Vehicle Co., which had already taken millions of dollars in state incentives to build a plant in Louisiana. The agency sent a letter questioning whether the company would be financially viable, V-Vehicle spokesman Joseph Fisher said. V-Vehicle intends to [&hellip;]<\/p>\n","protected":false},"author":4055,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-476121","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/476121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4055"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=476121"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/476121\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=476121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=476121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=476121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}