Better Place Secures $133.8M Financing for Danish EV Charging Network

Better Place, the California-based electric vehicle infrastructure company that is currently building EV charging networks in California, Oregon, and Hawaii, has announced today that they have secured a round of financing to the tune of $133.8M to build an EV charging network in Denmark.
Better Place secured the financing in conjunction with Denmark’s DONG Energy, who is to be the primary provider of electric power for the network, and who will also assist Better Place in the installation of the charging and battery swap infrastructure.
The charging infrastructure is part of a plan by Better Place, the Renault-Nissan Alliance and the Danish government to begin marketing electric cars in Denmark in 2011. Renault-Nissan is designing and building the vehicles, which will have a battery pack system that can be quickly removed and replaced with a fully recharged pack, as per Better Place’s “battery swap” model.
Better Place hopes to begin installing the network this year in time for the U.N. summit on Climate Change, so that Denmark, which is hosting the summit in December, “can demonstrate to the world what the future of transportation will look like,” Agassi said during a recent press conference web-cast from Denmark.
Source: Green Car Advisor
Tags: better place, electric vehicle charging network, electric vehicle charging station, electric vehicles, shai agassi
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