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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

Financing 252
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Better Place secures €40M European Investment Bank loan

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The majority of the proceeds from the loan (approximately €30 million, US$37 million) will be used to finalize network deployments and fund operations in Denmark. The remaining proceeds will be used for similar purposes in Israel. In Denmark, the Better Place network of Battery Switch Stations now connects Copenhagen to Aarhus.

Denmark 257
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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.

Companies 231
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Better Place consortium launches electric taxi project with battery switch station at Schiphol airport

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Awarded last year, the project consortium, “Greening European Transportation Infrastructure for Electric Vehicles,” is the first decarbonization infrastructure project co-financed by the European Union’s TEN-T program. Batter Place recently completed an historic “lap” around Israel by driving the Renault Fluence Z.E. million miles).

Taxi 294
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Polestar’s Q3 revenue and gross profit skyrocket, operating loss trims by 33%

Teslarati

Polestar is currently recognizing its active markets as Australia, Austria, Belgium, Canada, China, Denmark, Finland, Germany, Hong Kong, Iceland, Ireland, South Korea, Kuwait, Israel, Italy, Luxembourg, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, the UAE, U.K., and the USA.

Kuwait 98
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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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GE and Better Place have formed a technology and financing partnership to accelerate the global deployment of electric vehicle infrastructure through collaboration in four key areas: standards-based technology development; battery financing; joint fleet electrification programs; and consumer awareness. GE’s WattStation.

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EV battery swap company Better Place files for liquidation

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Better Place, a high-profile developer and proponent of a battery switch model for electric vehicles ( earlier post ), filed a motion with the Lod District Court in Israel to ask for the dissolution of the company and the appointment of a temporary liquidator. Israel was the first place in which an electrical car could travel without limit.

Companies 286