Better Place has raised $ 350 million
Posted by admin | Under features, money, opinions, resources, top news Monday Jan 25, 2010The Californian partner Renault in electric cars have passed a nice round. Better Place has in effect said on Monday it has raised 350 million dollars, 247 million euros.
The deal values the company at 1.25 billion dollars. It should enable the company to "grow internationally," according to its CEO Shai Agassi, quoted in a news group.
It was underwritten by HSBC, Morgan Stanley Investment Management and Lazard Asset Management, and must be closed during the first quarter. In its statement, Better Place is pleased to be among the major investment of its kind conducted by HSBC Business Card Design . Having spent 125 million dollars, nearly 90 million euros, HSBC is the largest investor in this transaction.The bank will take 10% stake Better Place, and put Kevin Adeson, head of global financial transactions, within the executive committee of Better Place.
Better Place will install networks of charging infrastructure for electric vehicles. Through its partnership with Renault, Better Place aims to commercialize a nombvre minimum of 100,000 cars in Israel and Denmark by 2016.