The company was held up as the model for government investment in green technology. In addition to the $535 million loan guarantee, it received visits from the president and other state and federal officials.
Solyndra was a once promising company that had increased sales revenue by 2,000 percent in the past three years. The $535 million loan guarantee was sought by both the Bush and Obama administrations, he said, and private investors also put more than $1 billion into Solyndra.
Republicans have been looking into the Solyndra loan for months. The House Energy and Commerce Committee subpoenaed documents relating to the loan from the White House Office of Management and Budget.
FBI Issues Search Warrants At California Solar Firm Touted By Obama | Fox News ; CLICK FOR MORE..
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