Better Place, Dong Energy close $134 million for Danish EV network

Shai Agassi seems to be doing okay when it comes to raising money in a tough market. Better Place and Danish partner Dong Energy announced today the closing of a $134 million (U.S.) financing — a combination of equity and convertible debt. The funds will go toward building out Denmark’s electric-car charging network in advance of the introduction of Better Place-compliant vehicles in two years. “Starting in 2011 through the extensive network, The Renault-Nissan Alliance will begin to commercialize a complete range of EVs especially adapted to Danish customer requirements,” the companies said in a statement. “These cars will benefit from the Better Place mobility services and products.”

Of course, we shouldn’t assume Better Place is the only EV-charging game in town. There are other companies, such as Campbell, Calif.-based Coulomb Technologies, going after the same market with a different — and less flashy — approach.

2 thoughts on “Better Place, Dong Energy close $134 million for Danish EV network”

  1. Congratulations on your magazine. You are presenting a very needed forum and communication vehicle to help citizens understand that change in our attitude towards, and use of energy is required and very necessary.

    As a native of Toronto, now living in Charleston West Virginia, the heart of Appalachian Coal Country, I am challenged to regularily speak out about economic and environemntal reality to this State about renewable energy and a coal free future. It is challenging to say the least.

    The first big wake up call was several years ago when the Ontario Government announced its intention to shut down its coal fired power plants and transition to renewable energy. That has been quite a challenge as they struggle to get enougfhg capable firms and engineering resources to accomplish the switch, but they were right to make that bold decision.

    But you may wonder why I callked it a “BIG WAKE UP CALL”? It’s because the Ontario Government buys the bulk of the coal they use from West Virginia!

    As an experienced environmental advocate is required by enabling legislation on the WV Public Energy Authority (PEA), Governor Joe Manchin appointed me a member of the WV PEA. As an engineer, (Michigan ’61), I have 40+ years of experience dealing with environmental and energy technologies and policies, originally in Quebec and Ontario, then for 30 years in California, now 10 years here in West virginia.

    I have been a strong advocate for an accelerated transition to renewable energy as a way of finding new clean jobs for coal miners. I was involved in the design of solar systems in Californbia in the mid 70’s!

    So as I tackle these issues in a State filled with “Friends of Coal” I look forward to your newsletter as avaluable source for ideas and approaches to achieving the inevitable, but sooner rather than later, transition to zero emissions renewable energy.

    Keep up the good work

    Allan Tweddle B.Sc., M.B.Ad.
    Earl Haig Class of ’55

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