Better Place raises $200 million, valuation at $2.25 billion!

After initiating the deployment of battery swap infrastructure in Israel and Denmark, during a third round of financing (Series C), Better Place has raised $200million via a consortium that includes GE and UBS bringing its evaluation at 2.25 billion (doubled compared to January 2010!).

Founded in 2007 by Shai Agassi the company has multiplied the tests experiments including taxis in Japan to demonstrate the viability of its technology, finalize the development but also study the behavior of the users.

In the short term the company plans to expand its network in Denmark and Israel before launching its service in Canberra Australia in the second quarter of 2012

In the medium term Better Place will setup a battery exchange infrastructure in Southern California, Southern China, Japan, Canada, Hawaii and particularly in Western Europe.

For now Renault is the only manufacturer to offer compatible vehicles... A great strategic advantage for the French brand whose sales of vehicles are likely to be correlated with the development of the service, with joint sales programs link in Denmark.

Via Better Place.
Par Technologic Vehicles
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