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One of the founders of a PEI wind energy company that went bankrupt last year is being sued for money the company owed to a bank.
Papers filed in PEI Supreme Court show Mercantile Finance Services is going after Malcolm Lodge for $4 million. Mercantile was owed that money by Entegrity Wind Systems, which went bankrupt in September 2009, putting 25 Islanders out of work.
The court document says Lodge is liable because he made an unconditional written guarantee that the loan would be paid.
Neither Mercantile's lawyer nor officials with the bank could be reached for comment. Lodge, who lives in Charlottetown, declined to comment.
Entegrity Wind Systems, with operations in PEI and Colorado, sold small 50-kilowatt wind turbines across North America. Lodge has long ties to wind energy on the Island. He helped found the Atlantic Wind Test site in the 1980s and went on to found Entegrity Wind along with two other people in 2002. He continues to run his consulting firm Island Technologies, a firm that offers advice on wind energy and other engineering projects.
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