16 July 2013 — Yosef Abramowitz, who founded Arava Power and Energiya Global, has taken on The Better Place electric vehicle network after the company declared bankruptcy in May.
The Green Prophet – Sustainable News for the Middle East reports that an Israeli court has awarded the liquidation of The Better Place’s Israel-based assets and Swiss-based intellectual property to Mr Abramowitz and a union of Better Place car owners.
Better Place founder Shai Agassi’s vision was to bring both electric vehicles and state of the art battery charging systems to Israel.
He constructed 37 charging stations, created 2000 kerbside charging stands and managed to get 1000 electric vehicles on the roads.
But it was an expensive exercise leading to the company calling it quits.
But the 900 EV owners who had bought $44,000 Electric Renault Fluences from the company were happy with their purchases and decided to form a lobby group just before the company’s fall.
EV Drivers Association chairman Efi Shahak said they were committed to maintaining the 2000 charging spots and basic battery swap services for all current and future EV drivers in Israel.
Mr Abramowitz said the vision was to “transform the charging network into an open, national technology and service platform for all current and future EVs”.
“We look forward to Israelis soon driving and charging Teslas and other EVs that will save money for both drivers and government, fight climate change and keep our air clean.
“The company is currently seeking new investment of up to $36 million (USD) by offering both equity and convertible debt participation.
“We are saving a dream here, so the valuation and terms will be investor-friendly,” he said.
Mr Abramowitz said the company expected to break even within 24 months.
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