Better Place closes $200M Series C financing; valuation now $2.25B

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Better Place, a developer and provider of electric car networks—including battery switch stations, batteries and public/personal charge spots ( earlier post )—worldwide, has secured $200 million through a Series C equity financing from a consortium of top-tier investors and partners, nearly doubling the company’s valuation to $2.25 billion (post money valuation on a fully diluted basis) since the last financing in January 2010.

Ampal Signs Option Exercise Agreement to Acquire 25% in Ethanol Project in Colombia

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Israel-based Ampal-American Israel Corporation signed an option exercise agreement with Merhav (M.N.F) The purchase of the 25% equity stake and the conversion of the loan is subject to the initial disbursement of a loan from Banco do Brasil, the lender providing project financing to the project. Merhav is a multinational corporation with interests in a range of sectors, including energy, infrastructure projects, and agriculture.

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2nd Better Place CEO out; company to be managed by Chairman of Board and CFO

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Globes in Israel reported that sources said that Thornley left over differences with Chairman Idan Ofer over Better Place’s future, especially over plans to reduce activity in global markets and focus on its core markets of Israel and Denmark. Thornley’s first job, the Globes report noted, was to develop a recovery plan for Better Place’s Israeli operations—a condition for further financing.

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Better Place lost $459M on $6.9M in sales last year; cumulative losses of $812M

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Under the Liquidation Petition filed in Israel on Sunday, Better Place listed assets of $9.5 PrivCo CEO and Corporate Lawyer Sam Hamadeh explained that the Israeli insolvency regime is based on the Companies Ordinance (New Version) 5743-1983, the Companies Regulations (Liquidation) 5477–1987, and the Bankruptcy Ordinance of 1980. Battery swap pioneer Better Place, Inc., which filed for liquidation on Sunday ( earlier post ), lost $459 million last year on $6.9

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GE and Better Place Partner to Accelerate EV Infrastructure Deployment; Integrating GE WattStation with Better Place Services

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Battery Financing: GE and Better Place will develop a battery financing program that begins with a pilot project to finance 10,000 batteries in Israel and Denmark, which are the first two markets for Better Place. GE’s WattStation. Click to enlarge.

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Toyota Research Institute launches Toyota AI Ventures with $100M investment

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Toyota Research Institute (TRI) is investing an initial $100 million to launch Toyota AI Ventures , a new corporate venture capital subsidiary designed to provide early-stage financing to startup technology companies. TRI participated in Nauto’s $12M Series A financing in August 2016. TRI participated in SLAMcore’s seed financing in March 2017. TRI participated in Intuition Robotics’ $14M Series A financing in May 2017.

2017 64

Intel to acquire Mobileye for $15.3 billion; targeting autonomous driving

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Intel Corporation announced a definitive agreement under which Intel would acquire Mobileye, a global leader in the development of computer vision and machine learning, data analysis, localization and mapping for advanced driver assistance systems and autonomous driving.

2017 78

Cleantech Blog: Smart Grids and Electric Vehicles

Tony Karrer Delicious EVdriven

People-Oriented Development Current Status of REDD Financing the Fifth Fuel Peak Phosphorus - Commence Urine Recyling on Space. Driving range will no longer be an obstacle, because customers will be able to plug their cars into charging units in any of the 500,000 charging spots in Israel. Shai Agassi predicts that Israel will have over 100,000 electric vehicles in use by 2010.

2009 28

Pike Research makes 10 electric vehicle predictions for 2013

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Battery swapping gives way to battery financing. Battery swapping pioneer Better Place, which saw key executives leave in 2012, has failed to capture the expected number of subscribers to its EV service in the initial launch market of Israel and borrowed money to continue the expensive build-out of battery swap stations in Denmark.

2012 120