Withdrawal of major investor, subsequent “cash crisis” cited in Energy Renaissance’s collapse
The administrator to Energy Renaissance has given “withdrawal of a major investor from a planned funding subscription program” as the reason for the battery maker’s difficulties. According to a short statement from Jirsch Sutherland provided to @AuManufacturing on Sunday, the withdrawal “left the company in a cash crisis“. Stewart Free and Bradd Morelli of Jirsch…