November 23, 2024 11:07 pm
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Commerce Authority in court to recover deal-closing money

Clear Energy Systems

By Jeremy Duda | Arizona Capitol Times

Clear Energy Systems The first recipient of grant money from the Arizona Commerce Authority’s “deal-closing fund” fell short of its promises in a big way, and the agency has gone to court to recover the money it awarded to the company.

Clear Energy Systems in late 2011 received $1 million from Arizona Competes, a $25 million fund controlled by the newly created Commerce Authority. As part of the agreement for the deal-closing money, the Tempe-based manufacturer of portable energy generators pledged to create 225 new jobs and invest $7 million in Arizona within three years.

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