Last year Ener1, which has a large battery-manufacturing plant in northern Indiana, received an $118.5 million federal grant--the funds came from the stimulus--so it could double its capacity and manufacture lithium-ion batteries for electric cars.
The vice president praised Ener1 during a visit to its battery factory last year. "This is about the future," Biden boasted. "And the question is which nation is going to seize the future. Some nation is going to grab it by the throat. One of the nations of the world is going to lead the world in green energy and technology."
Well, as the Chicago Tribune reported two days ago--that nation will be Russia. Ener1's battery technology may eventually pay off--but that know-how is now the property of Boris Zingarevich, a businessman closely tied to outgoing Russian president Dmitry Medvedev. Three months ago Ener1 filed for bankruptcy protection, since then the tycoon acquired the firm outright.
Going back to 2002, Zingarevich was the largest shareholder in Ener1. The Tribune reports that the feds didn't look for foreign ownership before awarding the grant and issuing contracts to the firm.
What about Biden?
His office declined comment to the Trib and it referred questions about the grant to the Department of Energy.
"Nobody messes with Joe."
As there are military applications to advanced battery technology, there are national security implications to this takeover.
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