Today’s scheduled auction of Evergreen Solar’s defunct Devens factory and technology assets has been delayed at least a week while a bankruptcy court judge sorts out objections to the sale.
The Marlboro-based company agreed to a stipulation, subject to a hearing tomorrow, that excludes certain patents to which the U.S. Department of Energy claims ownership rights.
The DOE wants to “prevent foreign entities from gaining control over federally funded technology and competing with American industry unfairly,” according to a court filing.
Many of the bidders are reportedly from China, whose heavy subsidies of its solar industry helped push Evergreen into bankruptcy.
MassDevelopment objected to the sale of Evergreen’s 450,000-square-foot Devens plant, saying the company’s ownership of the factory where 800 people used to work is tied to a lease with the quasi-state financing agency.
Tuesday, November 1, 2011
More of our Technology being bought by China?
Because they have the money. China allows American company and product to enter China. China copies and take as their own. American company out, in more ways than one. Will this be happening again? Who's watching the store?