Powin Files for Bankruptcy and the Planet Can’t Even Right Now

Oh bless their green little hearts. Powin LLC, Oregon’s very own clean energy darling, just pulled a full financial faceplant and filed for Chapter 11 bankruptcy—because apparently, even saving the planet doesn’t save you from blowing through $300 million like it’s Trader Joe’s wine on a three-day weekend.

Let me set the scene: Powin, headquartered in the leafy utopia of Tualatin, once had 500 employees and all the momentum of a Tesla in Ludicrous Mode. Now? They’re down to 85 people and a mountain of unpaid invoices that could block out the sun, which is ironic given they were supposed to help us use the sun.

Turns out they owe $25 million to the folks who hold the real power (banks), another $100 million to suppliers who are definitely side-eyeing them right now, and $175 million in unsecured debt, which is basically Monopoly money at this point. Their grand plan? Sell off the high-tech arm that actually made money and list the rest on Craigslist. Or, you know, the corporate version of it.

Powin’s implosion isn’t just one company’s oopsie—it’s the latest “green bubble” to pop alongside other clean-energy flops like Sunnova and Mosaic. So much for our solar-powered utopia, huh?

Moral of the story? Save the Earth, sure—but maybe check your books while you’re at it. Because being broke is so not sustainable.