If you’ve been following the moves of electric vehicle infrastructure maker Better Place over the years then you’re well aware that its world ambitions will need a lot of capital. On Monday morning the company announced that it is raising a whopping $350 million in a series B round to help it build out its network of charging and battery swap stations across nations like Israel and Denmark. That’s one of the largest rounds for cleantech ever, and is similar in size to the massive fund-raising done by thin film solar company Solyndra. Better Place has now raised about $750 million.
Better Place’s latest round will be led by HSBC Group, which will put in a whopping $125 million and will own 10 percent of the company’s shares. The round also will include new investors Morgan Stanley Investment Management, and Lazard Asset Management, and existing investors Israel Corp., VantagePoint Venture Partners, Ofer Hi-Tech Holdings, Morgan Stanley Principal Investments, and Maniv Energy Capital, among others. Better Place’s Chief Financial Officer Charles Stonehill said the funding “goes a long way toward validating and enabling,” their business model.
On the cusp of a new generation of electric vehicles and the buildout of a smart grid, connected cars — vehicles linked to the power grid as well as communication networks — have the potential to give us a transportation system for the digital age. Smart charging infrastructure, energy storage tech and devices, telematics, the vehicles themselves,
Not only world leaders, United Nations delegates and environmentalists were disappointed in the
While I’ve been skeptical of electric vehicle infrastructure Better Place’s grand ambitions to sell EV service like cell phones and cover small countries with its network, there’s one region that is actually a good fit with Better Place’s EV dreams: Denmark. I sat down with some of Better Place’s team on the ground in Denmark at a hotel outside of the Copenhagen climate negotiations on Wednesday and took a test drive in the first car for the Renault Better Place partnership, the Fluence (the sedan-looking car in the photo to the left and below), which is supposed to come out in 2011.
COPENHAGEN — Danish people have a unique feeling called “hygge,” which is commonly described as warmth or coziness. It can often be found indoors, when the conversation flows and warm (or alcoholic) beverages are involved, and it’s a way to cheer up and connect with others in the long, cold dark winters of Denmark (and no, it’s not like
Over 5,000 miles away from the Bay Area and Silicon Valley, where tech entrepreneurs often have an undying faith in the free market, world leaders will be meeting to make major policy decisions over the next two weeks that will determine not only how the world will tackle climate change, but also how the business of building green technology will unfold. While it’s looking like a legally-binding agreement on emissions cuts 


