Better Place, DONG Energy Close Funding for Denmark Electric Car Network

Copenhagen, Denmark: Better Place today announced it had secured 103 million euros for the deployment of its electric car network in Denmark and named former Microsoft executive Jens Moberg as head of its European operations.

Shai Agassi, Founder and CEO of Better Place and Copenhagen Climate Councillor, said: "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."

Moberg, who referred to Better Place's business model (see the Better Place case study published at this website) as "the biggest industrial opportunity ever," will be responsible for the development of the infrastructure and progressive rollout of electric vehicles until 2011, when the project is predicted to reach critical mass in Denmark.

An example of Denmark's innovative vision for the future, Better Place will source renewable electricity to power its fleet from Danish supplier DONG Energy. Better Place most recently announced a partnership with the Government of Ontario, Canada's largest province, and is said to be in talks with other regional jurisdictions worldwide.

Click here to watch a webcast of today's Better Place-DONG Energy announcement.