BOISE -- A renewable energy company that sponsors two-time U.S. Olympic gold medalist Kristin Armstrong's team is struggling to meet corporate and sponsorship obligations due to turbulence in its main business.
Boise-based Exergy Development Group LLC said Wednesday it's crafting a plan to pay outstanding invoices.
Exergy backs men's and women's professional cycling teams, including Armstrong's Exergy Twenty12 team.
It was the sponsor of May's 2012 Exergy Tour in Idaho, the biggest U.S. women's professional bike race.
The company also backs men's pro races including the Tour of California, the Tour of Utah, and the USA Pro Cycling Challenge in Colorado.
Exergy Vice President Elizabeth Woolstenhulme said lingering uncertainty over rules governing wind-energy projects in Idaho has created a "hard time" for the 12-year-old company, with investors worried about participating in projects.