News 1. Gone Like the Wind I was excited when reporter Jennifer Henderson pitched her story about Innovacorp’s investment in a tech firm that appears to be struggling and for which promised returns have not yet, and likely never will, materialize. I’m always interested in these provincial economic development pursuits that go belly-up. But Henderson […]
Gone like the wind
In a bid to salvage something positive from the collapse of the Bowater mill in Brooklyn, the province bought a $2 million equity stake in LightSail Energy. The compressed air energy storage company was started by Dartmouth whiz kid turned Silicon Valley darling Danielle Fong, who promised to build a renewable energy demonstration project at the former mill site. But the company has burned through $70 million, Fong's credibility is questioned, and the Brooklyn project may never materialize.
“Creating a system that can store large amounts of renewable energy will have a positive impact all over the world.” That’s what then-Energy Minister Andrew Younger gushed in July 2014, as he stood outside the former Bowater Mersey paper mill in Brooklyn to announce the defunct plant would be where LightSail Energy would test its […]