Seagate has offered to buy the idle Solyndra plant in California, though the price is well below what it cost to build the facility, according to a report.
The FBI spoke to the Solyndra CEO at his home yesterday after searching company offices, as a hearing on the loan guarantee for the beleaguered solar company is on tap.
The office of government-backed solar manufacturer Solyndra, which abruptly shut down last week and then declared bankruptcy, is searched by FBI agents this morning in Fremont, Calif.
In an interview, Obama says loan guarantees to energy technology companies like Solyndra are necessary to compete internationally and support U.S. manufacturing.
The company will ask for permission to auction off its state-of-the-art factory built with more than $500 million from the federal government.
Solyndra received a big loan even though it couldn't keep up with the falling solar costs, but the loan guarantee program is still vital for scaling up new solar technologies.
This story initially had an incorrect photo credit. The credit is Lawrence Jackson/White House.
Solar company--the latest this month to file for bankruptcy protection--cites "global economic and solar industry market conditions" as the reason.
In a showdown with Republicans, Energy Secretary Steven Chu says no political influence came into play in approving the DOE's $535 million loan guarantee to solar company Solyndra.
Beacon Power, a flywheel storage company that received a government loan guarantee, said its storage plant will continue to operate as it seeks new sources of capital.