A Fremont, Calif.-based solar energy solutions provider that was once hailed as an example of the new green economy has closed and filed for bankruptcy protection, according to an article in the Silicon Valley Mercury News.
Around-the-clock efforts to keep the company solvent failed, according to the report. Solyndra received $535 million in Energy Department loan guarantees. President Barack Obama visited the plant in May 2010.
The company's sudden dismissal of its employees has brought threats of lawsuits.
Two other American solar power manufactures filed for bankruptcy last month: Evergreen Solar of Massachusetts and SpectraWatt of New York.