By Zack Colman - 10/26/12 01:06 PM EDT
The Colorado county that housed now-bankrupt Abound Solar is launching a criminal investigation into the firm for possible securities fraud, consumer fraud and financial misrepresentation, according to The Denver Post. The firm drew on $70 million in Energy Department-backed loans before going belly-up in June.
BP backed out of plans to build a Florida plant that would have converted grasses such as sorghum and cane into cellulosic biofuel, Reuters reports. BP said it would now concentrate on research and development, along with licensing its biofuels technology.
In more BP news, The Associated Press said the firm “capped and plugged” equipment identified as the likely source of a sheen near the location of its 2010 Gulf of Mexico oil spill.
Iran’s coal export business is heating up despite Western sanctions meant to cripple its shipping, notes Reuters.