updated: 6/28/2012 9:19:16 PM
A clean-technology company that planned to bring hundreds of jobs to Indiana is expected to declare bankruptcy. The U.S. Department of Energy confirms Colorado-based Abound Solar will file for bankruptcy and close its doors next week. The company announced plans in 2010 for more than 800 jobs at a facility in Tipton County.
A formal bankruptcy announcement is expected this afternoon.
In February, Chief Exeuctive Officer Craig Witsoe reiterated the company's commitment to Indiana, but also told Inside INdiana Business Chinese solar technology companies were hurting operations in Indiana and Colorado.
He said the overseas products were being sold below cost.
You can view the U.S. Department of Energy's current take on solar energy, which confirms Abound's pending announcement by clicking here.
Source: U.S. Department of Energy