More DOE Green funds

Fisker Automotive
This week the Irvine, CA based company received $529 million loan to help develop plug-in hybrid cars. The first $170 million will go to finish off development and production of it's first all electric sports car, the $88,000 Karma. The rest will go towards phase 2 called Project Nina which calls for $47,000 family plug-in sedan coming out in 2012. This is pretty amazing for a company celebrating it 2 year anniversary this month. The company also has financial backing from Kleiner Perkins, a huge VC firm that counts Colin Powell and Al Gore as part of its advisory board. You can find there cars at Sullivan Luxury Cars in Beverly Hills and Santa Monica.

Iberdrola
$251 million went to the Spain based company. It's the second time they've received a grant from the US government after receiving $300 million a few months back. I know it seems odd the US grant money to sent to foreign companies, but remember this "for very 100 megawatts of wind power (an average size wind farm) 387 jobs are created". This speaks to the green startup and job creation tradeoff I blogged about previously. If you live in Iowa, Texas, or Missouri be warned that Iberdrola is on it way with its wind farms.