Shai Agassi and the team at Better Place have done it again: almost two years to the day after announcing its first car partnership and its first country deployment in Israel, Better Place today announced that it has signed an agreement with an HSBC-led investor consortium for new equity financing of $350 million. The deal marks one of the largest clean-tech investments in history and values Better Place at $1.25 billion.
This Series B equity financing round features participation from new investors including HSBC, Morgan Stanley Investment Management, and Lazard Asset Management. These investors will join existing Series A investors including Israel Corp., VantagePoint Venture Partners, Ofer Hi-Tech Holdings, Morgan Stanley Principal Investments, Maniv Energy Capital, and Israel Cleantech Ventures, among others, as shareholders of Better Place. For HSBC, which led the round with an investment of $125 million, the deal represents one of the largest financial investments of its kind by HSBC.
As part of the deal, Kevin Adeson, HSBC Head of Global Capital Financing, will join the Better Place Board of Directors, and HSBC will own approximately 10% of the company’s shares.
“Today marks the end of an extensive process with the outcome being a decision by one of the world’s largest, most conservative banks, HSBC, to take the validating step of investing in a private company intent on bringing innovation to the trillion-dollar automotive and energy industries,” said Shai Agassi, Better Place Founder and Chief Executive Officer. “The strong investment commitment and global relationships that HSBC, Morgan Stanley Investment Management and Lazard Asset Management bring to the table combined with the continuing confidence from our original investors enables us to scale up globally and execute against our plan.”
In welcoming Adeson to the Board, Idan Ofer, Chairman of Better Place and Israel Corp., remarked, “Kevin and the entire HSBC team will bring more than just capital to the table. We expect that HSBC will help us to scale in Europe, China and beyond, and we’re already seeing the value that they are bringing to the company and the Board.”
Stuart Gulliver, Executive Director, HSBC Holdings and Chief Executive of Global Banking and Markets, said, “We believe the switch from internal combustion engine vehicles to electric vehicles will create future growth opportunities in the auto and utility industries, and we are delighted to take the opportunity of investing in Better Place to put HSBC at the heart of these developments. Better Place is a private-sector solution to the issue of infrastructure provision for electric cars and can succeed without government subsidy and without sacrificing consumer expectations for personal mobility.”
Better Place’s new board member, Kevin Adeson of HSBC, commented: “We are confident that Better Place has the technical and commercial solutions to allow for the mass adoption of electric cars in the near term. The Better Place switchable battery solution, which addresses the range limitation of fixed battery electric cars, will offer the consumer an affordable and attractive alternative to current combustion engine and hybrid vehicles. We expect the Better Place model to be widely adopted across many countries and cities, particularly in those markets with policies strongly favoring electric vehicle adoption.”
The financing allows Better Place to expand its geographic footprint while continuing to execute against its committed R&D and deployment milestones. The company intends to expand into markets where the business model economics and investor returns are optimized, notably in Europe and Asia.
Better Place says that it continues to meet its timetable for Israel and Denmark launch plans for the end of 2011 when the first Renault switchable battery electric cars hit the road. Better Place also will continue to execute against its strategy of early deployment projects in Australia and select North American markets a few months after the Israel and Denmark launches as planned.
Additionally, the company’s R&D team is currently testing each element of the Better Place solution in real-life scenarios around the world in a multi-phase cycle, beginning with the company’s managed EV network in Denmark, which began last December, and a Tokyo electric taxi project with battery switch station, which kicks off in April this year. These and other development milestones lead up to full-scale trials in the second half of 2010 and commercial launch in 2011.
Agassi added: “Our technology and solutions, together with our strong partnership with Renault, provide us at least a two-year time advantage over all other alternative energy vehicle approaches. Our solution is the only one that can scale to decrease countries’ oil consumption and significantly reduce emissions, while providing consumers with electric cars that are more convenient and affordable than internal combustion engine cars.”
“Better Place is a huge experiment in how you sell and fuel vehicles, and these investors are becoming convinced this will make money,” Rod Lache, an analyst at Deutsche Bank told the New York Times. “It is a financial validation. Now we need to see technical validation and consumer validation.”
The transaction is subject to approval by antitrust regulators and other customary closing conditions and is expected to close in the first quarter of 2010.
Related Posts:
Better Place unveils battery switch technology in Japan
Better Place applauds Hawaii's electric car legislation
Shai Agassi named to Time 100 list of world's most influential people
Better Place and Haifa to cooperate on electric car infrastructure
Better Place raises €103 million, names new Danish CEO
Better Place and Hawaii to partner on electric car project
Deustche Bank: Project Better Place has "the potential to eliminate the gasoline engine"
Better Place appoints Israel CEO, declares Israel as primary R&D center
Shai Agassi unveils Project Better Place electric car
Israel to adopt electric cars produced by Renault-Nissan and Project Better Place
Showing posts with label Shai Agassi. Show all posts
Showing posts with label Shai Agassi. Show all posts
Monday, January 25, 2010
Wednesday, May 13, 2009
Better Place unveils battery switch technology in Japan
Better Place today unveiled the prototype of its battery switch technology in Yokohama, Japan. The system is a key component of Better Place's planned infrastructure of electric car exchange stations and charge spots.
Better Place showcased its battery switch platform using a modified NISSAN electric crossover SUV to demonstrate how to switch a depleted battery for a fully charged one.
“Today marks a major milestone for the automotive industry as well as for Better Place,” said Shai Agassi, Founder and CEO, Better Place, in a company press release. “For nearly a century, the automotive industry has been inextricably tied to oil. Today, we’re demonstrating a new path forward where the future of transportation and energy is driven by our desire for a clean planet and a robust economic recovery fueled by investments in clean technology, and one in which the well-being of the automotive industry is intrinsically coupled with the well-being of the environment.”
The Renault-Nissan Alliance is partnering with Better Place in Israel to enable zero-emissions mobility throughout the country by 2011. The realization of zero-emissions mobility in Israel will require the deployment of battery switch stations as well as a steady and reliable supply of vehicles adapted to accept the switchable-battery layout required by the Better Place business model.
“Japan has always been at the forefront of automotive engineering and design and maintains a strong sense of environmentalism,” said Kiyotaka Fujii, President of Better Place Japan and Head of Business Development for Asia Pacific. “The launch of Japan’s electric vehicle study is an important milestone in achieving a zero-emission transportation society, and our successful demonstration of charging vehicles with both fixed and switchable batteries is an important contribution towards moving the entire industry forward.”
Moshe Kaplinsky, CEO of Better Place Israel, told Globes: "This is a great achievement for Better Place and for Israel. The technology, which was developed in Israel, was presented in the heart of Japan's automobile industry. The development and demonstration of the battery replacement technology brings us significantly closer to completing the company's solution for developing a full recharging infrastructure for electric cars."
Related Posts:
Better Place secures $350 million series B round led by HSBC
Better Place applauds Hawaii's electric car legislation
Shai Agassi named to Time 100 list of world's most influential people
Better Place and Haifa to cooperate on electric car infrastructure
Better Place appoints Israel CEO, declares Israel as primary R&D center
Better Place showcased its battery switch platform using a modified NISSAN electric crossover SUV to demonstrate how to switch a depleted battery for a fully charged one.
“Today marks a major milestone for the automotive industry as well as for Better Place,” said Shai Agassi, Founder and CEO, Better Place, in a company press release. “For nearly a century, the automotive industry has been inextricably tied to oil. Today, we’re demonstrating a new path forward where the future of transportation and energy is driven by our desire for a clean planet and a robust economic recovery fueled by investments in clean technology, and one in which the well-being of the automotive industry is intrinsically coupled with the well-being of the environment.”
The Renault-Nissan Alliance is partnering with Better Place in Israel to enable zero-emissions mobility throughout the country by 2011. The realization of zero-emissions mobility in Israel will require the deployment of battery switch stations as well as a steady and reliable supply of vehicles adapted to accept the switchable-battery layout required by the Better Place business model.
“Japan has always been at the forefront of automotive engineering and design and maintains a strong sense of environmentalism,” said Kiyotaka Fujii, President of Better Place Japan and Head of Business Development for Asia Pacific. “The launch of Japan’s electric vehicle study is an important milestone in achieving a zero-emission transportation society, and our successful demonstration of charging vehicles with both fixed and switchable batteries is an important contribution towards moving the entire industry forward.”
Moshe Kaplinsky, CEO of Better Place Israel, told Globes: "This is a great achievement for Better Place and for Israel. The technology, which was developed in Israel, was presented in the heart of Japan's automobile industry. The development and demonstration of the battery replacement technology brings us significantly closer to completing the company's solution for developing a full recharging infrastructure for electric cars."
Related Posts:
Better Place secures $350 million series B round led by HSBC
Better Place applauds Hawaii's electric car legislation
Shai Agassi named to Time 100 list of world's most influential people
Better Place and Haifa to cooperate on electric car infrastructure
Better Place appoints Israel CEO, declares Israel as primary R&D center
Thursday, April 30, 2009
Shai Agassi named to Time 100 list of world's most influential people
Shai Agassi, Founder and CEO of Better Place, the electric car infrastructure start-up, was named today to the Time 100, a list of the world's most influential people.
This is the second year running that a leader of Israel's cleantech industry has been named to the Time 100. Isaac Berzin, founder of GreenFuel Technologies and the Institute for Alternative Energy Resarch at IDC Herzliya, made the list in 2008.
Agassi was born in Ramat Gan, Israel and graduated from Technion, the Israel Institute of Technology, where he received a bachelor’s degree in computer science.
Better Place has raised more than $300 million and is partnering with utilities and governments to install its electric vehicle infrastructure in Israel, Denmark, Australia, Portugal, Ontario, Hawaii, and the San Francisco Bay Area. Headquartered in Palo Alto, California, Better Place's primary R&D center is in Israel.
Alan Salzman, CEO of VantagePoint Venture Partners, a major investor in Better Place, says that Agassi is "the closest we've seen to a Steve Jobs of clean tech — visionary, technologist, businessman. What's it like working with him? Exhilarating, exhausting, challenging, gratifying. He recently turned 41. Wonder what he'll do after transporting us to a better place?"
Agassi was also recently profiled in the New York Times Magazine.
Related Posts:
Better Place and Haifa to cooperate on electric car infrastructure
Better Place raises €103 million, names new Danish CEO
Better Place appoints Israel CEO, declares Israel as primary R&D center
Isaac Berzin, Israel's "Green Giant"
This is the second year running that a leader of Israel's cleantech industry has been named to the Time 100. Isaac Berzin, founder of GreenFuel Technologies and the Institute for Alternative Energy Resarch at IDC Herzliya, made the list in 2008.
Agassi was born in Ramat Gan, Israel and graduated from Technion, the Israel Institute of Technology, where he received a bachelor’s degree in computer science.
Better Place has raised more than $300 million and is partnering with utilities and governments to install its electric vehicle infrastructure in Israel, Denmark, Australia, Portugal, Ontario, Hawaii, and the San Francisco Bay Area. Headquartered in Palo Alto, California, Better Place's primary R&D center is in Israel.
Alan Salzman, CEO of VantagePoint Venture Partners, a major investor in Better Place, says that Agassi is "the closest we've seen to a Steve Jobs of clean tech — visionary, technologist, businessman. What's it like working with him? Exhilarating, exhausting, challenging, gratifying. He recently turned 41. Wonder what he'll do after transporting us to a better place?"
Agassi was also recently profiled in the New York Times Magazine.
Related Posts:
Better Place and Haifa to cooperate on electric car infrastructure
Better Place raises €103 million, names new Danish CEO
Better Place appoints Israel CEO, declares Israel as primary R&D center
Isaac Berzin, Israel's "Green Giant"
Tuesday, February 24, 2009
Better Place partners with 19 Israeli companies
Better Place announced that it has signed cooperation agreements with 19 Israeli companies to test the suitability of its electric vehicles for these companies fleets.
In this first stage of Better Place's plant to build a nationwide infrastructure for electric vehicles, Better Place will design charge spots for the companies' electric cars and install them at the companies' parking lots and employees' homes. It will also work with the companies' managers and employees in the design and deployment of the infrastructure in order to optimize and customize them to the needs of each company.
Moshe Kaplinsky, CEO of Better Place Israel, said, "Leading Israeli companies understand the strategic importance of meeting one of the greatest challenges now facing us: our dependence on oil and its effect on our economy, environment, and security. "
Related Posts:
IDF considers Better Place infrastructure and electric troop carriers
Better Place appoints Israel CEO, declares Israel as primary R&D center
In this first stage of Better Place's plant to build a nationwide infrastructure for electric vehicles, Better Place will design charge spots for the companies' electric cars and install them at the companies' parking lots and employees' homes. It will also work with the companies' managers and employees in the design and deployment of the infrastructure in order to optimize and customize them to the needs of each company.
Moshe Kaplinsky, CEO of Better Place Israel, said, "Leading Israeli companies understand the strategic importance of meeting one of the greatest challenges now facing us: our dependence on oil and its effect on our economy, environment, and security. "
Better Place CEO Shai Agassi added, "We are today seeing the certification that there is real market demand for electric cars that will use Better Place's grid. We expect demand to grow as Israeli companies join in the vision, as well as in other countries, which together represent a potential global market of 50 million cars. We see today the tip of the iceberg of global demand."
The participating companies are from the hi-tech, pharmaceuticals, finance and manufacturing sectors. They include Israel Corp, which has invested over $100 million in Better Place, Teva Pharmaceutical Industries Ltd., Pelephone Communications Ltd., Partner Communications Ltd., Matrix IT Ltd., Direct Insurance - Financial Investments Ltd., Rafael Advanced Defense Systems Ltd., Netafim Ltd., Keter Plastics Ltd., Orbotech Ltd., juice maker Jafora Tabori Ltd., Manpower Israel Ltd., SQlink Ltd., Nike Israel Ltd., and Glasshouse Technologies Ltd.Related Posts:
IDF considers Better Place infrastructure and electric troop carriers
Better Place appoints Israel CEO, declares Israel as primary R&D center
Tuesday, January 27, 2009
Better Place raises €103 million, names new Danish CEO
Better Place, in conjunction with its Danish utility partner, DONG Energy, announced today it has raised approximately €103 million Euro (770 million Danish Kroner) in equity and convertible debt for the initial deployment of their electric car charging network in Denmark.
Under the terms of the agreement, DONG Energy will assist in the Better Place Denmark network rollout as well as be the preferred supplier of renewable energy to power the network.
In March 2008, Better Place named Better Place Denmark as its second operator following Israel, which recently unveiled its first installed electric charge spots. Starting in 2011 The Renault-Nissan Alliance will begin to commercialize a complete range of electric vehicles adapted to Danish customer requirements
Better Place also named Jens Moberg as Head of Better Place Europe, Middle East and Africa (EMEA) Business Development and Chief Executive Officer of Better Place Denmark. As CEO, Mr. Moberg will focus on establishing Denmark as Better Place's first operation in Europe and help expand Better Place to other European countries. He joins Better Place Denmark from Microsoft Corp., where he was responsible for developing and growing Microsoft’s multi-billion dollar enterprise business in Russia, India and China.
Today's announcement follows a series of deals signed by Better Place to construct charging and battery-swapping networks in Australia, California, Canada, Hawaii and Israel.
“With the U.N. Summit on Climate Change around the corner, Denmark has the opportunity to demonstrate to the world what the future of transportation will look like,” said Shai Agassi, Founder and CEO, Better Place. “In Jens Moberg, we’ve selected a world-class business executive to help us implement our model in Denmark, which will serve as a showcase for Europe and the rest of the world as they come to Copenhagen for COP15 in December.”
“Our goal in investing in Better Place Denmark is to help reduce CO2 emissions and increase the consumption of sustainable energy by capturing and leveraging wind power more efficiently,” said Anders Eldrup, CEO and President, DONG Energy. “Under Jens Moberg’s leadership, we look forward to making the Better Place vision a reality in Denmark for the entire world to see.”
Related Posts:
Better Place secures $350 million series B round led by HSBC
Better Place and Hawaii to partner on electric car project
Shai Agassi, Better Place, featured in Wired Magazine
Better Place in talks with Mercedes, Hawaii and San Francisco
Better Place appoints Israel CEO, declares Israel as primary R&D center
Under the terms of the agreement, DONG Energy will assist in the Better Place Denmark network rollout as well as be the preferred supplier of renewable energy to power the network.
In March 2008, Better Place named Better Place Denmark as its second operator following Israel, which recently unveiled its first installed electric charge spots. Starting in 2011 The Renault-Nissan Alliance will begin to commercialize a complete range of electric vehicles adapted to Danish customer requirementsBetter Place also named Jens Moberg as Head of Better Place Europe, Middle East and Africa (EMEA) Business Development and Chief Executive Officer of Better Place Denmark. As CEO, Mr. Moberg will focus on establishing Denmark as Better Place's first operation in Europe and help expand Better Place to other European countries. He joins Better Place Denmark from Microsoft Corp., where he was responsible for developing and growing Microsoft’s multi-billion dollar enterprise business in Russia, India and China.
Today's announcement follows a series of deals signed by Better Place to construct charging and battery-swapping networks in Australia, California, Canada, Hawaii and Israel.
“With the U.N. Summit on Climate Change around the corner, Denmark has the opportunity to demonstrate to the world what the future of transportation will look like,” said Shai Agassi, Founder and CEO, Better Place. “In Jens Moberg, we’ve selected a world-class business executive to help us implement our model in Denmark, which will serve as a showcase for Europe and the rest of the world as they come to Copenhagen for COP15 in December.”
“Our goal in investing in Better Place Denmark is to help reduce CO2 emissions and increase the consumption of sustainable energy by capturing and leveraging wind power more efficiently,” said Anders Eldrup, CEO and President, DONG Energy. “Under Jens Moberg’s leadership, we look forward to making the Better Place vision a reality in Denmark for the entire world to see.”
Related Posts:
Better Place secures $350 million series B round led by HSBC
Better Place and Hawaii to partner on electric car project
Shai Agassi, Better Place, featured in Wired Magazine
Better Place in talks with Mercedes, Hawaii and San Francisco
Better Place appoints Israel CEO, declares Israel as primary R&D center
BrightView raises $6 million from Israel Cleantech Ventures and Hasso Plattner Ventures
BrightView Systems Ltd., a solar photovoltaic startup based in Petah Tikva, Israel, announced today that it has recently finalized a $6 million Series A round of financing. Eyal Harel , formerly Co-President of Orbotech, has become BrightView's Chairman of the Board of Directors.
Israel Cleantech Ventures (ICV) financed BrightView Systems in mid 2008 and was later joined by Hasso Plattner Ventures (HPV), a Germany-based venture capital fund whose limited partners include CMEA Ventures
"BrightView is focused on perfecting the production process of photovoltaic-based solar-cells," said
"Headquartered in Potsdam (
"BrightView exemplifies our strategy of investing in entrepreneurial teams that leverage Israeli technology know-how to solve major bottlenecks in cleantech markets," noted
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Israel Cleantech Ventures closes on $75 million fund
Israel Cleantech buys 11% of AqWise
Pythagoras Solar raises $10m from Israel Cleantech, Pitango, and Evergreen
Thursday, November 6, 2008
Launching the Boston Israel Cleantech Alliance
I moved from Tel Aviv to Boston last month to begin working as an associate in the Business Law Department of Goodwin Procter LLP, a law firm with a substantial Clean Tech Practice.
Boston, like Israel, is emerging as a leading hub for cleantech research, development, and entrepreneurship. The Boston Israel Cleantech Alliance will be working to connect cleantech investors, entrepreneurs, academic researchers and government officials in both places, and the group is helping organize a number of upcoming events.
Israel Cleantech Investor Conference
On October 28, 16 Israeli cleantech venture capital funds and startups traveled to New York and Boston to meet with private equity, venture capital, and angel investors.
Participating startups included Aquapure Technologies Ltd., Aquatal Ltd., Cequesta Water Ltd., CheckLight Ltd., Coriolis Wind Ltd., CQM Technologies Ltd., En Gibton Ltd., Engineuity Ltd., EPC Wastewater Solution Ltd., Leviathan Energy Ltd., and RealiteQ Ltd.
The Israeli cleantech funds were: AquAgro Fund LP and its parent Gaon Agro Industries Ltd., BDB Technologies & Hi-Tech Investments Ltd., Israel Cleantech Ventures, MIYA, Precede Technologies Ltd., and Whitewater Technology Group.
In Boston, each participant made a 10-minute presentation in the morning and had an opportunity to meet one-on-one with investors like North Bridge Venture Partners and Atlas Venture in the afternoon. A formal reception in the evening included a presentation by Booky Oren, CEO of MIYA and Chairman of WATEC 2009, and a keynote address by Massachusetts Governor Deval Patrick.
You can read press coverage of the events in the Jerusalem Post and Globes and view photos online.
Environmental Symposia Featuring Experts from Ben Gurion University
On November 12, three professors from Ben-Gurion University of the Negev will be in Boston to give presentations on their respective cleantech-related fields of expertise. Prof. David Faiman, who is also CTO of ZenithSolar, will speak about solar energy; Prof. Isaac Meir will discuss "green" architecture; and Prof. Zeev Wiesman speak about biofuels.
You can find more information about the lunchtime and evening symposiums and RSVP at the Boston Israel Cleantech Alliance meetup page.
Biofuels: The Good, the Bad, and the Ugly - A Presentation by Dr. Isaac Berzin
Dr. Isaac Berzin is the founder of Cambridge-based GreenFuel Technologies -- a venture-backed developer of algae-based biofuels -- and the founding director of the Institute for Alternative Energy Policy at the IDC in Herzliya, Israel. Earlier this year, Dr. Berzin was named by Time Magazine as one of the 100 most influential people in politics, business, and science.
Back in June, I had the honor of hosting Dr. Berzin at a CleanIsrael meetup event in Ramat Hasharon.
On November 20th, Dr. Berzin will speak to an audience of venture capitalists, entrepreneurs and graduate students at Harvard Business School. The event is sponsored by Goodwin Procter LLP and Combined Jewish Philanthropies (CJP), in collaboration with the HBS Business & Environment Club, Harvard Kennedy School's Israel Caucus, MIT-Israel Program, and the New England Israel Business Council. You can find out more and RSVP at the event's meetup page.
Shai Agassi, CEO of Better Place
Shai Agassi of Better Place is scheduled to visit Boston on December 3rd and 4th. Stay tuned for more details.
Boston, like Israel, is emerging as a leading hub for cleantech research, development, and entrepreneurship. The Boston Israel Cleantech Alliance will be working to connect cleantech investors, entrepreneurs, academic researchers and government officials in both places, and the group is helping organize a number of upcoming events.
Israel Cleantech Investor Conference
On October 28, 16 Israeli cleantech venture capital funds and startups traveled to New York and Boston to meet with private equity, venture capital, and angel investors.
Participating startups included Aquapure Technologies Ltd., Aquatal Ltd., Cequesta Water Ltd., CheckLight Ltd., Coriolis Wind Ltd., CQM Technologies Ltd., En Gibton Ltd., Engineuity Ltd., EPC Wastewater Solution Ltd., Leviathan Energy Ltd., and RealiteQ Ltd.
The Israeli cleantech funds were: AquAgro Fund LP and its parent Gaon Agro Industries Ltd., BDB Technologies & Hi-Tech Investments Ltd., Israel Cleantech Ventures, MIYA, Precede Technologies Ltd., and Whitewater Technology Group.
In Boston, each participant made a 10-minute presentation in the morning and had an opportunity to meet one-on-one with investors like North Bridge Venture Partners and Atlas Venture in the afternoon. A formal reception in the evening included a presentation by Booky Oren, CEO of MIYA and Chairman of WATEC 2009, and a keynote address by Massachusetts Governor Deval Patrick.
You can read press coverage of the events in the Jerusalem Post and Globes and view photos online.
Environmental Symposia Featuring Experts from Ben Gurion University
On November 12, three professors from Ben-Gurion University of the Negev will be in Boston to give presentations on their respective cleantech-related fields of expertise. Prof. David Faiman, who is also CTO of ZenithSolar, will speak about solar energy; Prof. Isaac Meir will discuss "green" architecture; and Prof. Zeev Wiesman speak about biofuels.
You can find more information about the lunchtime and evening symposiums and RSVP at the Boston Israel Cleantech Alliance meetup page.
Biofuels: The Good, the Bad, and the Ugly - A Presentation by Dr. Isaac Berzin
Dr. Isaac Berzin is the founder of Cambridge-based GreenFuel Technologies -- a venture-backed developer of algae-based biofuels -- and the founding director of the Institute for Alternative Energy Policy at the IDC in Herzliya, Israel. Earlier this year, Dr. Berzin was named by Time Magazine as one of the 100 most influential people in politics, business, and science.
Back in June, I had the honor of hosting Dr. Berzin at a CleanIsrael meetup event in Ramat Hasharon.
On November 20th, Dr. Berzin will speak to an audience of venture capitalists, entrepreneurs and graduate students at Harvard Business School. The event is sponsored by Goodwin Procter LLP and Combined Jewish Philanthropies (CJP), in collaboration with the HBS Business & Environment Club, Harvard Kennedy School's Israel Caucus, MIT-Israel Program, and the New England Israel Business Council. You can find out more and RSVP at the event's meetup page.
Shai Agassi, CEO of Better Place
Shai Agassi of Better Place is scheduled to visit Boston on December 3rd and 4th. Stay tuned for more details.
Friday, August 22, 2008
Shai Agassi, Better Place, featured in Wired Magazine
Shai Agassi, the founder and CEO of Better Place, is on the cover of the most recent issue of Wired Magazine. The article, “Shai Agassi's Audacious Plan to Put Electric Cars on the Road,” is a must read for anyone interested in Shai Agassi, the origins of Better Place, and the politics and economics of electric vehicles.
Highlights include:
A Q&A with Israeli President Shimon Peres, who contends that Israel can be a global cleantech R&D center
A description of AutoOS, the Better Place operating system, and how it will transform the transportation grid. AuotOS will serve as an energy monitor, GPS unit, help center, and personal assistant, packed into an onboard PC that will also hold cellular and Wi-Fi chips.
Details of Agassi’s efforts, along with venture capitalist Michael Granoff, Better Place’s earliest investor and its head of oil independence policies, to lobby the U.S. government to create incentives for electric cars
An inside look at a Better Place meeting in Tel Aviv to determine the design of the company’s charge spots
A test drive of a Better Place prototype with the company’s chief engineers
News that Better Place is in discussions with Chery Automobile, the massive Chinese auto company, and is eyeing the Chinese market. (Israel Corp., which has invested $130 million in Better Place, has a joint venture with Chery Automobile, and Idan Ofer is Chairman of both Israel Corp. and Better Place.)
News that Better Place is raising $160 million to roll out the Electric Vehicle Recharge Operator in Denmark. (The company has already raised $200 million.)
Confirmation that Agassi has flown to Honolulu to meet with the Governor of Hawaii, which might become the first place in the U.S. to sign an agreement with Better Place.
Better Place names Israeli firm to oversee recharing infrastructure
In other news, Globes reports that Better Place has selected Massad Oz Management & Supervision Ltd. to manage the pilot recharging infrastructure deployment for the company's electric car venture. Massad Oz will set up the recharging infrastructure in Tel Aviv parking lots in the coming months.
Related Posts:
Better Place secures $350 million series B round led by HSBC
Project Better Place in talks with Mercedes, Hawaii, and San Francisco
Project Better Place presents prototype
Deustche Bank: Project Better Place has "the potential to eliminate the gasoline engine"
Highlights include:
A Q&A with Israeli President Shimon Peres, who contends that Israel can be a global cleantech R&D center
A description of AutoOS, the Better Place operating system, and how it will transform the transportation grid. AuotOS will serve as an energy monitor, GPS unit, help center, and personal assistant, packed into an onboard PC that will also hold cellular and Wi-Fi chips.
Details of Agassi’s efforts, along with venture capitalist Michael Granoff, Better Place’s earliest investor and its head of oil independence policies, to lobby the U.S. government to create incentives for electric cars
An inside look at a Better Place meeting in Tel Aviv to determine the design of the company’s charge spots
A test drive of a Better Place prototype with the company’s chief engineers
News that Better Place is in discussions with Chery Automobile, the massive Chinese auto company, and is eyeing the Chinese market. (Israel Corp., which has invested $130 million in Better Place, has a joint venture with Chery Automobile, and Idan Ofer is Chairman of both Israel Corp. and Better Place.)
News that Better Place is raising $160 million to roll out the Electric Vehicle Recharge Operator in Denmark. (The company has already raised $200 million.)
Confirmation that Agassi has flown to Honolulu to meet with the Governor of Hawaii, which might become the first place in the U.S. to sign an agreement with Better Place.
Better Place names Israeli firm to oversee recharing infrastructure
In other news, Globes reports that Better Place has selected Massad Oz Management & Supervision Ltd. to manage the pilot recharging infrastructure deployment for the company's electric car venture. Massad Oz will set up the recharging infrastructure in Tel Aviv parking lots in the coming months.
Related Posts:
Better Place secures $350 million series B round led by HSBC
Project Better Place in talks with Mercedes, Hawaii, and San Francisco
Project Better Place presents prototype
Deustche Bank: Project Better Place has "the potential to eliminate the gasoline engine"
Sunday, August 3, 2008
NY Times and Ha'aretz on Israeli cleantech
In case you missed it, New York Times columnist Tom Friedman wrote an excellent column last week entitled "From Texas to Tel Aviv." Friedman discusses Better Place and its founder, Shai Agassi, who he describes as a cross between Henry Ford and Yitzhak Rabin.
My favorite line: "Agassi is a passionate salesman for his vision. He could sell camels to Saudi Arabia."
For Shai's reaction to the column, and the back story on his relationship with Tom Friedman, check out his blog, "The Long Tailpipe."
A good friend of mine, Ben Grossman, has more to say about the column at his Sustainable Ink blog. Ben is the Director of the Green Marketing and Sustainability Practice at Grossman Marketing Group, based in Boston. If you are interested in green marketing strategies, Ben is a great resource.
It is also worth taking a look at a recent article in Ha'aretz, entitled "Beyond the Age of Oil", by Sarah Kass of the Avi Chai Foundation. Kass writes about what the transition away from oil will mean for Israel, the Middle East, and the rest of the world.
My favorite line: "Agassi is a passionate salesman for his vision. He could sell camels to Saudi Arabia."
For Shai's reaction to the column, and the back story on his relationship with Tom Friedman, check out his blog, "The Long Tailpipe."
A good friend of mine, Ben Grossman, has more to say about the column at his Sustainable Ink blog. Ben is the Director of the Green Marketing and Sustainability Practice at Grossman Marketing Group, based in Boston. If you are interested in green marketing strategies, Ben is a great resource.
It is also worth taking a look at a recent article in Ha'aretz, entitled "Beyond the Age of Oil", by Sarah Kass of the Avi Chai Foundation. Kass writes about what the transition away from oil will mean for Israel, the Middle East, and the rest of the world.
Monday, July 14, 2008
Better Place electric cars may be produced in Israel
Gabriel Mimon, the director general of the Industry, Trade and Labor Ministry, reportedly plans to meet with Shai Agassi to discuss the possibility of manufacturing electric cars in Israel. In exchange for manufacturing the electric cars in Israel, Agassi's company, Project Better Place, could receive hundreds of millions of shekels in government grants.
The scheduled meeting with Mimon will follow what is described, according to a report in Ha'aretz, as a "private" meeting between Agassi and Industry, Trade and Labor Minister Eli Yishai.
During the meeting, Agassi noted that research and development for the electric cars will take place in Israel whereas production will likely be outsourced to another country. He said that a number of countries are interested in hosting the production and have offered benefits including investment grants.
But Yishai emphasized the importance of production remaining in Israel, and the two discussed the benefits the government will be asked to provide to make such production feasible.
In January 2008, Better Place announced a memorandum of understanding with Renault-Nissan to build a nationwide electric vehicle recharge grid in Israel. In March, the company declared the Israel would be its primary R&D center.
Related posts:
Project Better Place presents prototype car in Tel Aviv
Project Better Place declares Israel as primary R&D center
Israel set to adopt electric cars produced by Renault-Nissan and Project Better Place
The scheduled meeting with Mimon will follow what is described, according to a report in Ha'aretz, as a "private" meeting between Agassi and Industry, Trade and Labor Minister Eli Yishai.
During the meeting, Agassi noted that research and development for the electric cars will take place in Israel whereas production will likely be outsourced to another country. He said that a number of countries are interested in hosting the production and have offered benefits including investment grants.
But Yishai emphasized the importance of production remaining in Israel, and the two discussed the benefits the government will be asked to provide to make such production feasible.
In January 2008, Better Place announced a memorandum of understanding with Renault-Nissan to build a nationwide electric vehicle recharge grid in Israel. In March, the company declared the Israel would be its primary R&D center.
Related posts:
Project Better Place presents prototype car in Tel Aviv
Project Better Place declares Israel as primary R&D center
Israel set to adopt electric cars produced by Renault-Nissan and Project Better Place
Monday, June 30, 2008
Portugal in talks with Project Better Place
Prime Minister Jose Socrates will soon sign an agreement for Portugal to join the Better Place electric car project backed by Renault SA and Nissan Motor Co, Diario Economico reported without naming its sources.
Project Better Place has already signed agreements to build electric vehicle recharge grids in Denmark and Israel, and the company has raised $200 million from investors including VantagePoint Venture Partners, Israel Corp., and Maniv Energy Capital.
Last week, Better Place CEO Shai Agassi testified before the U.S. Congress' Select Committee on Energy Independence and Global Warming. The topic of the hearing was “$4 Gasoline and Fuel Economy: Auto Industry at a Crossroads”.
In his testimony, Agassi revealed that Better Place is "in active discussions with more than 30 other countries, and with dozens of regions, provinces, states and large cities." He added that he expects four to six other countries or regions to sign agreements with Better Place in the coming months, just as Israel and Denmark have already done.
Better Place has not yet responded to today's news report, but it sounds like Portugal may be next.
Related posts:
Project Better Place in talks with Mercedes, Hawaii, and San Francisco
Project Better Place presents prototype
Deustche Bank: Project Better Place has "the potential to eliminate the gasoline engine"
Project Better Place has already signed agreements to build electric vehicle recharge grids in Denmark and Israel, and the company has raised $200 million from investors including VantagePoint Venture Partners, Israel Corp., and Maniv Energy Capital.
Last week, Better Place CEO Shai Agassi testified before the U.S. Congress' Select Committee on Energy Independence and Global Warming. The topic of the hearing was “$4 Gasoline and Fuel Economy: Auto Industry at a Crossroads”.
In his testimony, Agassi revealed that Better Place is "in active discussions with more than 30 other countries, and with dozens of regions, provinces, states and large cities." He added that he expects four to six other countries or regions to sign agreements with Better Place in the coming months, just as Israel and Denmark have already done.
Better Place has not yet responded to today's news report, but it sounds like Portugal may be next.
Related posts:
Project Better Place in talks with Mercedes, Hawaii, and San Francisco
Project Better Place presents prototype
Deustche Bank: Project Better Place has "the potential to eliminate the gasoline engine"
Saturday, June 21, 2008
Project Better Place in talks with Mercedes, Hawaii, and San Francisco
Daimler, the parent of Mercedes-Benz, is in talks with Shai Agassi and Project Better Place regarding the company's plan to create a mass-market infrastructure for electric cars. Mercedes' CEO Dieter Zetsche revealed the talks in a newspaper interview published in Germany earlier today. Zetsche also said that Mercedes-Benz plans to manufacture a model that runs on electricity in 2010.
In January 2008, Better Place announced a Memorandum of Understanding with Renault-Nissan to build an electric recharge grid in Israel. Under the agreement, Better Place will build the electric recharge grid, and Renault-Nissan will provide the electric vehicles. Renault-Nissan apparently does not have an exclusive right to produce electric vehicles for Better Place, and it will be interesting to see what develops with Mercedes.
Hawaii and San Francisco up next?
I recently had the opportunity to hear a presentation by Ziva Patir, head of Better Place's international standardization efforts since her appointment was announced in April. Patir revealed that Better Place is near an agreement with the State of Hawaii. If the talks are successful, this would be another impressive accomplishment for Better Place, giving it a foothold the world's largest car market.
In an April appearance on a local radio show, Hawaii's Governor Linda Lingle said that the state was indeed in discussions with Project Better Place.
Furthermore, Earth2Tech reported in May that San Francisco Mayor Gavin Newsom met with Better Place Israel CEO Moshe Kaplinsky and Chairman Idan Ofer while in Israel. Newsom reportedly offered to work with the company to build an electric recharge grid in San Francisco.
In Better Place's October 2007 white paper, "The Future of Transportation", Shai Agassi stated that to set the right conditions for the creation of a massive electric recharge grid in the United States, the federal government will need to increase taxes on cars, based on carbon emissions, and tax fuel to bring the price up to roughly $4.50 a gallon.
Even without federal intervention, however, gas prices have now reached a statewide average of $4.31 in Hawaii and $4.60 in California. We may have already reached the point where the company's business model will work in certain niche markets -- transportation islands like Hawaii, and densely populated, highly-trafficed urban areas such as San Francisco.
Related Posts:
Better Place secures $350 million series B round led by HSBC
Project Better Place presents prototype
Deustche Bank: Project Better Place has "the potential to eliminate the gasoline engine"
In January 2008, Better Place announced a Memorandum of Understanding with Renault-Nissan to build an electric recharge grid in Israel. Under the agreement, Better Place will build the electric recharge grid, and Renault-Nissan will provide the electric vehicles. Renault-Nissan apparently does not have an exclusive right to produce electric vehicles for Better Place, and it will be interesting to see what develops with Mercedes.
Hawaii and San Francisco up next?
I recently had the opportunity to hear a presentation by Ziva Patir, head of Better Place's international standardization efforts since her appointment was announced in April. Patir revealed that Better Place is near an agreement with the State of Hawaii. If the talks are successful, this would be another impressive accomplishment for Better Place, giving it a foothold the world's largest car market.
In an April appearance on a local radio show, Hawaii's Governor Linda Lingle said that the state was indeed in discussions with Project Better Place.
Furthermore, Earth2Tech reported in May that San Francisco Mayor Gavin Newsom met with Better Place Israel CEO Moshe Kaplinsky and Chairman Idan Ofer while in Israel. Newsom reportedly offered to work with the company to build an electric recharge grid in San Francisco.
In Better Place's October 2007 white paper, "The Future of Transportation", Shai Agassi stated that to set the right conditions for the creation of a massive electric recharge grid in the United States, the federal government will need to increase taxes on cars, based on carbon emissions, and tax fuel to bring the price up to roughly $4.50 a gallon.
Even without federal intervention, however, gas prices have now reached a statewide average of $4.31 in Hawaii and $4.60 in California. We may have already reached the point where the company's business model will work in certain niche markets -- transportation islands like Hawaii, and densely populated, highly-trafficed urban areas such as San Francisco.
Related Posts:
Better Place secures $350 million series B round led by HSBC
Project Better Place presents prototype
Deustche Bank: Project Better Place has "the potential to eliminate the gasoline engine"
Sunday, May 11, 2008
Project Better Place presents prototype; Renault seen investing up to $1 billion in R&D
Shai Agassi, the CEO of Project Better Place, estimated on Sunday that the company's partner, the Renault-Nissan alliance, would likely invest $500 million to $1 billion in developing the swappable-battery electric cars.
"This is the cost for a three-year car program," Agassi said at a Tel Aviv news conference to introduce the electric car prototype.
Separately, Israel Corp. chairman Idan Ofer said, "I consider this to be a revolutionary project and I believe that most of the [Israeli] public will drive an electric car within a decade." Ofer has invested $130 million in the venture personally and through Israel Corp.
Sources: Reuters, Globes
Related Posts:
Better Place secures $350 million series B round led by HSBC
"This is the cost for a three-year car program," Agassi said at a Tel Aviv news conference to introduce the electric car prototype.
Separately, Israel Corp. chairman Idan Ofer said, "I consider this to be a revolutionary project and I believe that most of the [Israeli] public will drive an electric car within a decade." Ofer has invested $130 million in the venture personally and through Israel Corp.Sources: Reuters, Globes
Related Posts:
Better Place secures $350 million series B round led by HSBC
Tuesday, April 15, 2008
Deutsche Bank: Project Better Place has "the potential to eliminate the gasoline engine"
Deutsche Bank has reportedly sent analysts to look at Project Better Place's business plan and concluded that it could be a "paradigm shift" that causes "massive disruption" to the auto industry.
"We see a potential for a paradigm shift in the way vehicles are owned and fueled," the analysts wrote in the report, which Wired News obtained from Project Better Place. "Looking at Better PLC's model, we conclude that a pure EV should not be more expensive than a gasoline/diesel vehicle."
According to the analysts, a typical contract would cost $550 a month and provide 18,000 miles a year. Project Better Place would run the charging infrastructure, allowing consumers to charge their batteries at home or at public charging stations.
Deutsche Bank found Project Better Place customers would pay 7 cents per mile for fuel, even after accounting for the cost of electricity and depreciation of the battery. That is very competitive when compared to the 24 cents per mile Europeans pay for gasoline and the 15 cents per mile Americans are paying (at $3 per gallon in a 20 mpg vehicle).
The report even goes so far as to say that Project Better Place's approach has "the potential to eliminate the gasoline engine altogether."
Deutsche Bank also predicts that "entities in 5-10 countries are in the pipeline to announce deals with Better PLC over the course of this year", in addition to deals already signed in Denmark and Israel. The bank also expects other automakers, beyond just Renault and Nissan, to work with the company.
"Frankly, we are not aware of any reason why they would not sign up for this, as the automakers do no need to commit capital for infrastructure of for batteries under Better PLC's business model," they wrote. "We think companies such as Better PLC have the potential to drive significant change in the global auto industry."
Related Posts:
Better Place secures $350 million series B round led by HSBC
Better Place unveils battery switch technology in Japan
"We see a potential for a paradigm shift in the way vehicles are owned and fueled," the analysts wrote in the report, which Wired News obtained from Project Better Place. "Looking at Better PLC's model, we conclude that a pure EV should not be more expensive than a gasoline/diesel vehicle."
According to the analysts, a typical contract would cost $550 a month and provide 18,000 miles a year. Project Better Place would run the charging infrastructure, allowing consumers to charge their batteries at home or at public charging stations.
Deutsche Bank found Project Better Place customers would pay 7 cents per mile for fuel, even after accounting for the cost of electricity and depreciation of the battery. That is very competitive when compared to the 24 cents per mile Europeans pay for gasoline and the 15 cents per mile Americans are paying (at $3 per gallon in a 20 mpg vehicle).
The report even goes so far as to say that Project Better Place's approach has "the potential to eliminate the gasoline engine altogether."
Deutsche Bank also predicts that "entities in 5-10 countries are in the pipeline to announce deals with Better PLC over the course of this year", in addition to deals already signed in Denmark and Israel. The bank also expects other automakers, beyond just Renault and Nissan, to work with the company.
"Frankly, we are not aware of any reason why they would not sign up for this, as the automakers do no need to commit capital for infrastructure of for batteries under Better PLC's business model," they wrote. "We think companies such as Better PLC have the potential to drive significant change in the global auto industry."
Related Posts:
Better Place secures $350 million series B round led by HSBC
Better Place unveils battery switch technology in Japan
Better Place and Hawaii to partner on electric car project
Better Place and Haifa to cooperate on electric car infrastructure
Thursday, March 27, 2008
Highlights from first Cleantech Israel meetup event
On March 27, Shai Agassi was in Copenhagen to announce a partnership between Project Better Place and DONG Energy to develop a network of electric-car recharging stations in Denmark.
Meanwhile, back in Israel, more than fifty people, including a mix of entrepreneurs, venture investors, government officials and other key stakeholders in the industry, participated in the launch of the new Cleantech Israel meetup group.
The event, held at Max Brenner on Hamenofim St. in Herzliya Pituach, included presentations by Jack Levy, General Partner at Israel Cleantech Ventures, who provided an overview of recent developments in the sector; and Eran Yarkoni, founder and CEO of EnStorage, who gave a start-up's perspective on licensing "clean-tech" technology. EnStorage recently completed a financing round from Greylock Partners, Canaan Partners of the US, and Siemens Venture Capital, and its technology is licensed from Tel Aviv University.
Meanwhile, back in Israel, more than fifty people, including a mix of entrepreneurs, venture investors, government officials and other key stakeholders in the industry, participated in the launch of the new Cleantech Israel meetup group.
The event, held at Max Brenner on Hamenofim St. in Herzliya Pituach, included presentations by Jack Levy, General Partner at Israel Cleantech Ventures, who provided an overview of recent developments in the sector; and Eran Yarkoni, founder and CEO of EnStorage, who gave a start-up's perspective on licensing "clean-tech" technology. EnStorage recently completed a financing round from Greylock Partners, Canaan Partners of the US, and Siemens Venture Capital, and its technology is licensed from Tel Aviv University.
I would like to thank everyone who participated, including individuals from cleantech companies Aqwise, CheckLight, Edig Solar, Emefcy, En Gibton, Phoebus Energy, and TechnoSpin Wind; and from investors such as Genesis Partners, Lab-One Innovations, Magnolia Capital, Moreno Meister, Naiot, and Terra Venture Partners. Also in attendance were Yael Cohen Paran, the Director of the new Israel Energy Forum, and Tsvi Bisk, the creator of the Jewish Energy Project.
A special thanks to Noam Ilan, the Director of Renewable Energy in Eilat-Eilot, and our guest from the California Public Utilities Commission, both of whom traveled a long way to join us.
I would also like to acknowledge my fellow bloggers -- Tali Aben, Lisa Damast, and Kfir Pravda - it was great to meet you in person!
The event was sponsored by Goodwin Procter LLP, a U.S. law firm with an extensive Cleantech Practice.
Wednesday, March 26, 2008
Developing Story: Shai Agassi to address Copenhagen Climate Council
The Project Better Place press team at Hill & Knowlton just confirmed that Shai Agassi will be speaking at the Copenhagen Climate Council press conference on Thursday, March 27, 2008.
I am told that the conference will be streaming live on projectbetterplace.com for those who would like to hear what he has to say. The webcast will stream live from 7:30-9:00 am ET (1:30-3:00 pm in Israel) and will be available on the site thereafter.
The press conference will, according to its organizers, involve the "presentation of a unique, international climate project created by two members of the Copenhagen Climate Council."
I am told that the conference will be streaming live on projectbetterplace.com for those who would like to hear what he has to say. The webcast will stream live from 7:30-9:00 am ET (1:30-3:00 pm in Israel) and will be available on the site thereafter.
The press conference will, according to its organizers, involve the "presentation of a unique, international climate project created by two members of the Copenhagen Climate Council."
Featured speakers will include:
- Mr. Bendt Bendtsen, Vice Prime Minister & Minister for Economic and Business Affairs
- Mr. Anders Eldrup, CEO, DONG Energy
- Mr. Shai Agassi, CEO,
- Erik Rasmussen, Editor-in-chief and CEO, Monday Morning
- Tim Flannery, Writer and scientist
- Li Xiaolin, Chairwoman and CEO,
- Will Swope, Vice President, Intel Corporation
Project Better Place to launch pilot program in Denmark?
The Danish government will reportedly announce soon that it is bringing Shai Agassi's electric car venture, Project Better Place, to Denmark.
Initially, Denmark will probably launch a pilot program in Copenhagen and other locations to examine the feasibility of the project. It may also be possible to harness the country's wind power infrastructure for Project Better Place's electric car recharge grid.
This according to an article today in "Globes".
Shai Agassi, the Founder and CEO of Project Better Place, is apparently in Denmark on March 26-27 as a member of the Copenhagen Climate Council. This group of world leaders in business, science, and public policy is developing a set of "activities and initiatives that can build support by international business for a new climate treaty, the successor to the Kyoto Protocol, which will be negotiated at the UN Climate Summit in Copenhagen in 2009."
Agassi mentioned the possibility of a demonstration project in Denmark in an interesting essay on his vision for the future of transportation, which was published last month.
According to Agassi, although it is unlikely that the necessary conditions for deployment of a massive electric recharge grid in the United States will be created in next 18 months, "in the mid to long term there is a very strong possibility that with an understanding of the potential stakes, and successful demonstration projects in other countries, such as Israel or Denmark, the US government will spring to action."
In January, Better Place announced a Memorandum of Understanding (MOU) with Renault-Nissan to build the world's first Electric Recharge Grid Operator (ERGO) model for clean transportation in Israel. In March, the company established Israel as its primary research and development center to help develop the technology roadmap for mass deployment of electric vehicles.
Initially, Denmark will probably launch a pilot program in Copenhagen and other locations to examine the feasibility of the project. It may also be possible to harness the country's wind power infrastructure for Project Better Place's electric car recharge grid.
This according to an article today in "Globes".
Shai Agassi, the Founder and CEO of Project Better Place, is apparently in Denmark on March 26-27 as a member of the Copenhagen Climate Council. This group of world leaders in business, science, and public policy is developing a set of "activities and initiatives that can build support by international business for a new climate treaty, the successor to the Kyoto Protocol, which will be negotiated at the UN Climate Summit in Copenhagen in 2009."
Agassi mentioned the possibility of a demonstration project in Denmark in an interesting essay on his vision for the future of transportation, which was published last month.
According to Agassi, although it is unlikely that the necessary conditions for deployment of a massive electric recharge grid in the United States will be created in next 18 months, "in the mid to long term there is a very strong possibility that with an understanding of the potential stakes, and successful demonstration projects in other countries, such as Israel or Denmark, the US government will spring to action."
In January, Better Place announced a Memorandum of Understanding (MOU) with Renault-Nissan to build the world's first Electric Recharge Grid Operator (ERGO) model for clean transportation in Israel. In March, the company established Israel as its primary research and development center to help develop the technology roadmap for mass deployment of electric vehicles.
Wednesday, March 12, 2008
Project Better Place appoints Israel CEO, declares Israel as primary R&D center
Project Better Place, in a new press release, named Major General Moshe Kaplinsky as CEO of Better Place Israel, where he will lead the world’s first build out of an electric recharge grid network infrastructure for electric vehicles. Better Place also established Tel Aviv as its primary research and development center to help develop the technology roadmap for mass deployment of electric vehicles.
“I am thrilled that Moshe Kaplinsky has accepted the position as CEO of Better Place Israel,” said Shai Agassi, CEO, Better Place. “I’m equally thrilled that Israel will be our primary base for technology innovation due to its engineering prowess. I see enormous strength in our ability to work across borders and tap into great talent pools in the US, Israel and elsewhere as we expand our global footprint. This group will architect the blueprint for others to follow.”
As part of the news, Better Place also named three partners:
- strategic design firm NewDealDesign of San Francisco will develop the industrial design for the charging stations and other consumer touch points for the grid; and
- Israel-based Aran Research and Development Ltd. and Nekuda DM Ltd. will develop and install the electric vehicle recharging stations in Israel.
“With the partners announced today, we will be sharply focused on executing against the vision set forth in January to move Israel off of oil within ten years,” said Kaplinsky. “This is the first step toward implementation of our operational plan for Better Place Israel.”
In January, Better Place announced a Memorandum of Understanding (MOU) with Renault-Nissan to build the world's first Electric Recharge Grid Operator (ERGO) model for clean transportation in Israel
Before joining Better Place Israel, Kaplinsky most recently served as deputy chief of staff of the Israeli Defense Forces (IDF). Kaplinsky is a graduate of the advanced field officers course in the United States, has a Bachelor's degree in Economics and Business from Bar Ilan University and a Master's of Business Administration degree with honors from Tel Aviv University. He will report to Agassi.
Better Place Israel is a wholly-owned subsidiary of Project Better Place.
Monday, March 10, 2008
Project Better Place update
Project Better Place has been quietly making news in recent weeks following the excitement surrounding its January press conference in Israel. Shai Agassi, however, predicts a deal between the company and a national government "within 100 days”. Perhaps we should be bracing for another major announcement from Agassi and Better Place.
Shai Agassi profiled in the Economist. Is Japan next?
Shai Agassi was interviewed by the Economist for an article detailing the trend of executives switching from the computer industry to cleantech companies. He is featured alongside Elon Musk of Tesla Motors and Vinod Khosla of Khosla Ventures. The article discloses that "having bonded successfully with Shimon Peres and Ehud Olmert in Israel, Mr Agassi confidently predicts another deal between Better Place and a national government 'within 100 days'."
Might Japan be the next country to sign an agreement with Project Better Place? Shai Agassi was in Japan at the end of February, alongside Prime Minister Ehud Olmert, and spoke at a business forum intended to build contacts between Israeli and Japanese executives.
Two Israeli partners selected to implement electric recharge grid
Electric car venture Project Better Place has picked two Israeli companies to develop and install car recharging stations in Israel: Aran Research and Development Ltd. and Nekuda DM Ltd.
Aran R&D and Nekuda DM are industrial engineering design companies with experience in product development and electromechanical design. The car recharging infrastructure will involve 500,000 recharging points to be built across the country in the coming years.
"Globes" reports that the Office of the Chief Scientist has published a call for proposals to collaborate with Renault SA under the Ministry of Industry, Trade and Labor's cooperation program with multinationals. Companies deemed suitable to collaborate with Renault will receive Chief Scientist grants covering up to half the R&D budget for an approved project. Renault will provide matching aid, as well as technological advice, applications tests, use of the company's laboratories, and other services.
The call for proposals is targeting companies that are developing technologies and applications for improving the performance of electric car engines, energy efficient car air conditioners, rapid battery recharging and replacement systems, longer life batteries, and other fields.
Shai Agassi profiled in the Economist. Is Japan next?
Shai Agassi was interviewed by the Economist for an article detailing the trend of executives switching from the computer industry to cleantech companies. He is featured alongside Elon Musk of Tesla Motors and Vinod Khosla of Khosla Ventures. The article discloses that "having bonded successfully with Shimon Peres and Ehud Olmert in Israel, Mr Agassi confidently predicts another deal between Better Place and a national government 'within 100 days'."
Might Japan be the next country to sign an agreement with Project Better Place? Shai Agassi was in Japan at the end of February, alongside Prime Minister Ehud Olmert, and spoke at a business forum intended to build contacts between Israeli and Japanese executives.
Two Israeli partners selected to implement electric recharge grid
Electric car venture Project Better Place has picked two Israeli companies to develop and install car recharging stations in Israel: Aran Research and Development Ltd. and Nekuda DM Ltd.
Aran R&D and Nekuda DM are industrial engineering design companies with experience in product development and electromechanical design. The car recharging infrastructure will involve 500,000 recharging points to be built across the country in the coming years.
Project Better Place Israel CEO Moshe Kapliski said, "Testing of the charging points will begin this year, and hundreds of stations are planned for installation during 2009.
Chief Scientist ready to pay electric car companies"Globes" reports that the Office of the Chief Scientist has published a call for proposals to collaborate with Renault SA under the Ministry of Industry, Trade and Labor's cooperation program with multinationals. Companies deemed suitable to collaborate with Renault will receive Chief Scientist grants covering up to half the R&D budget for an approved project. Renault will provide matching aid, as well as technological advice, applications tests, use of the company's laboratories, and other services.
The call for proposals is targeting companies that are developing technologies and applications for improving the performance of electric car engines, energy efficient car air conditioners, rapid battery recharging and replacement systems, longer life batteries, and other fields.
Sunday, March 2, 2008
Global map of cleantech startups includes five Israel-related companies
Earth2Tech, a web site that provides cleantech news and analysis, has posted a map of 101 cleantech startups around the world, with useful information (investors, technology, etc.) broken out for each company.
No fewer than five Israel-related companies are on the list, including water disinfection company Atlantium Technologies; photovoltaic developer Pythagoras Solar; fuel-cell maker CellEra; electric car infrastructure developer Project Better Place; and biofuel company GreenFuel Technologies.
Project Better Place and GreenFuel Technologies are based in the U.S., but both companies were founded by Israelis and are engaged in R&D in Israel.
Project Better Place was founded by Shai Agassi and the company announced that it will roll out the first nationwide electric vehicle recharge grid in Israel by 2011.
GreenFuel Technologies was founded by Israeli chemical engineer Isaac Berzin during his postdoctoral studies at MIT in Boston. The company is developing an innovative process to recycle carbon dioxide or smokestack emissions to produce biofuels and feed. GreenFuel is collaborating with AlgaTech of Kibbutz Ketura in the Arava to make the process cost effective.
This is an impressive showing by Israel's growing cleantech cluster, especially considering that only two companies in all of Europe were included in the Earth2Tech list.
No fewer than five Israel-related companies are on the list, including water disinfection company Atlantium Technologies; photovoltaic developer Pythagoras Solar; fuel-cell maker CellEra; electric car infrastructure developer Project Better Place; and biofuel company GreenFuel Technologies.
Project Better Place and GreenFuel Technologies are based in the U.S., but both companies were founded by Israelis and are engaged in R&D in Israel.
Project Better Place was founded by Shai Agassi and the company announced that it will roll out the first nationwide electric vehicle recharge grid in Israel by 2011.
GreenFuel Technologies was founded by Israeli chemical engineer Isaac Berzin during his postdoctoral studies at MIT in Boston. The company is developing an innovative process to recycle carbon dioxide or smokestack emissions to produce biofuels and feed. GreenFuel is collaborating with AlgaTech of Kibbutz Ketura in the Arava to make the process cost effective.
This is an impressive showing by Israel's growing cleantech cluster, especially considering that only two companies in all of Europe were included in the Earth2Tech list.
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