They just received a grant! A grant that does not have to be paid back. Do you actually think they would have got this grant if this company was going under? Please fill me in, why a company would be givin millions of dollars that do not have to be paid back, if they where going under.
The Government just looks at the requirements as laid out by the Grant qualification rules. Raser met them and got the money. Does the Government know these people are crooks? Yes, but that isn't one of the rules "Grant Applicant must be honest and run a profitable or even potentially profitable company". Do you recall AIG getting money from the Government? or GM? Chrysler? TARP funds? C'mon get a clue pal.
guys, I see what your saying, but there is a possibility for this company to be profitable in the future. These alternative energy plays are risky, but who knows, in a few years this company could be hot! It is all about measureing risk/reward. That is all I am saying.
There is no correlation whatsoever with receiving a grant and going under. There is nothing to say receiving a grant ensures you will not go under, nor is there anything to say not receiving a grant insinuates the opposite. Receiving the grant does not mean thermo one will generate anything close to 10MW. Receiving the grant will not make the water hotter, nor flow at a greater rate. It does not mean they can tie up the permits needed to drill at LD. It does not mean Evergreen can ever raise a dime. Raser will almost assuredly have to raise more funds--just for operations--before the end of 2010. The money from the grant is earmarked and raser doesn't get much.
what the grant does do, is show that a the PTC stimulus plan for green energy was poorly thought out and provides greater rewards for inept companies.