Solyndra

Solyndra was a manufacturer of cylindrical panels of copper indium gallium selenide (CIGS) thin film solar cells. It was based in Fremont, California. In 2009, the Obama administration co-signed $535 million in loans to Solyndra. Once promoted as a leader in the sustainable energy sector for its technology by the American federal administration, Solyndra was not able to compete with conventional solar panel manufacturers of crystalline silicon. The company filed for bankruptcy on September 1, 2011. Solyndra became the focus of a political scandal after it was publicized they "used inaccurate information to mislead the Department of Energy" in obtaining government loan guarantees, and their offices were raided by the FBI. "A four-year joint investigation by the Department of Justice and the Department of Energy’s Inspector General concluded in 2015 without any criminal charges or findings of political corruption. While the 2011 bankruptcy resulted in significant taxpayer losses, the company subsequently recovered approximately $52.5 million through antitrust settlements with competitors for predatory pricing."