pan>,www.jordanretro-5s.com;)--Better Place today announced which the company has secured a 40 million
loan from the European Investment Bank. The financial loan marks the first-ever
credit service from a financial institution for Improved Place and
continues help for innovation and sustainable transportation by the
European Investment Bank.
“After a comprehensive required groundwork process, the European Investment
Standard bank has concluded that Better Position represents both a classic
national infrastructure project and a clear action towards innovative low carbon dioxide
transport”,jordan retro 5;
The majority of the proceeds from the loan (approximately 30 million)
will be used to complete network deployments and fund experditions in
Denmark. The remaining proceeds might be used for similar purposes inside
Israel.
After a comprehensive due diligence procedure, the European Investment
Bank offers concluded that Better Place presents both a classic
infrastructure venture and a clear step toward innovative low carbon
transportation, said Shai Agassi, Founder and Chief Executive Officer,
Better Place. The credit capability gives us a more flexible, sensible
capital structure that allows all of us to expand our operations without having solely
relying on equity. Many of us applaud the EIB, one of the most respectable
financial institutions in Europe, when deciding to take the time to thoroughly
consider our business model, and we enjoy continued
collaboration with EIB seeing that our European operations mature.
The commitment from the Western Investment Bank marks the fourth major
commitment by a European Institution to Better Place because the company
grows its Euro operations.
In Denmark, the Better Position network of Battery Swap Stations now
connects Copenhagen so that you can Aarhus, allowing Danish drivers to complete a person
of the most important routes in the country. The initial Copenhagen
Battery Switch Station within the Danish network and soon a second one inch
Amsterdam are part of a de-carbonization infrastructure undertaking
co-financed by the European Unions TEN-T method, Greening European
Transportation Infrastructure pertaining to Electric Vehicles. Better Area
also participates in the American Commissions sustainable mobility
challenge, Green eMotion, which is part of the European Green Car
Motivation,jordan 5.
On the automotive technology section, Better Place participates in the
EasyBat consortium, which is developing off-the-shelf pieces and
standardizing a generic interface involving the battery and electric cars
having switchable batteries. The project can make it easier for more
automotive companies to add this technology to their profile and
meet the European Labor unions 95 grams / a long way tailpipe CO2 emissions
standard.
Our own goal is to continue to work together with European institutions and associates
who share our perspective for electric transport to ensure that one day you can
drive coming from Copenhagen to Paris in a totally electric car by converting
batteries along the way, Agassi said. The actual Copenhagen-Paris corridor is
1,220 kilometers, which is about the same range I recently drove in a
getaway across Israel in a Renault Fluence Z.Electronic., switching batteries
without stopping to charge.
In Israel, their first market, more than half from the planned
network of Battery power Switch Stations is now readily available for use by
customers, making it possible for drivers the freedom to drive across the nation.
In Israel and Denmark combined, the corporation reported that it has much more
than 500 Renault Fluence Z.At the. electric cars with switchable batteries upon
the roads, logging 3 million electric kilometres year-to-date in the
companys controlled launch.
Far better Place is backed with a world-class group of investors including
HSBC plus Israel Corp. that are fully dedicated to their
long-term success and view Better Place as a long-term, transformational
investment in the portfolio. The company has brought up more than $750
million of a guarantee financing to date.
About Better Place
Better Place is definitely the leading global provider of electric car networks
that enables the mass market adoption of electric motor vehicles through an
innovative battery transition model that makes driving planet more
affordable, convenient in addition to sustainable than todays petrol-based motor vehicles.
Better Place owns and operates a network connected with battery switch stations and
public/personal charge spots, along with the flow of batteries that
power the cars, to provide drivers with instant range extension plus the
convenience to drive, switch along with go across an entire region. Where
possible, Better Put uses renewable sources of electrical power to deliver fully
zero emissions driving. The World Economic Online community has named Better Put
a Global Growth Company Sector Shaper for its innovative approach within
advancing the global switch to electric cars. Check out www.betterplace.com
###
Forward-Looking Claims
In this press release and in associated comments by our administration, our use
of the text expect, possible, believe, continue on, may, will,
positioned, offered or similar expressions is designed to identify
forward-looking statements that characterize our current judgment concerning
possible future events. We know these judgments are reasonable, but
these statements will not be guarantees of any events or maybe financial results,
and each of our actual results may differ materially as a result of variety of
important factors. Among other considerations, such factors might include: all of our
ability to complete testing in addition to certification as expected; our capacity
to expand commercial operations plus increase revenue; our opportunity to
offer nationwide coverage throughout Israel and Denmark in the expected period
frame; our ability to move forward with Battery Switch Station
arrangement in other countries; and our power to attract new customers.
Better Location disclaims any obligation to update information contained in
these forward-looking assertions whether as a result of new information and facts,
future events, or otherwise.
Details Source: Business Wire
May 28th, 2012 @ Apr:30pm
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