Better Place gets a € 40 million loan from the EIB

04/09/2012

Better Place, the battery swap network (compatible with the Renault Fluence) received an important financial support of the European Investment Bank. This help of € 40 million will enable the company that operates mainly in Israel and Denmark to develop other projects.


Why bother charging your battery of electric vehicle when it would be much more faster to exchange it against another already charged? The idea is clear and ... exists for real! In a few minutes, Better Place’s robots automatically exchange your battery in just a few minutes at the battery swap station.

For the moment, this requires that you to go in Israel or Denmark, the only countries where the company is open to the public (otherwise they are testing stations, including taxis as in Japan and more recently in Amsterdam), subscribe to the system and pay a monthly fee depending on the number of miles you do per month/year.

You will also need a car whose battery is compatible with the infrastructure but here, the choice is rather limited. There is only the Fluence with the Technology "EasyBat" initiated by Better Place, but it is not impossible that the future Renault Zoe features it. To be continued ...

The 40 million "loaned" by Europe will be primarily devoted to the deployment of new stations in Denmark and Israel where more than 500 Fluence are on the streets.

Better Place is supported by HSBC and the investment holding company Israel Corporation. The company has raised more than $ 750 million of equity financing to date, and is seriously considering to expand in other countries.

Par Technologic Vehicles
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