The 4.8 million dollar loan to Earthcare Energy, which was recently approved by the Evansville City Council at the request of Mayor Winnecke, must be stopped. The loan was approved by a 5 to 4 vote and was based on primarily false information provided by the Earthcare Energy representative. Since the loan was approved, significant amount of real and relevant information has been discovered. Eathcare Energy is a company with zero assets, and the principals of Earthcare Energy have no proven record of successfully starting a business and executing a business plan to manufacture and market a new product. The track records that do exist are those of failure. Along with failed prior business ventures, the principals have a record of bankruptcy, tax liens and criminal convictions. Aside from Earthcare Energy being a questionable company, there are significant issues with the product itself. The Total Flow Generator lacks a patent and has significant competition. There is a much better product already on the market that is being sold all over the world by major companies such as GE and Siemens. The Earthcare Energy loan is a guaranteed loss of 4.8 million dollars for the City of Evansville. Instead of giving money away to strangers, the money would be better spent on existing companies in Vanderburgh County with proven trackrecords. Please sign this Petition to stop this waste of tax payer dollars!
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