Shai Agassi: My problem isn't with Better Place's business model, but with the company.
Former Better Place Inc. CEO Shai Agassi still believes in the electric car venture's business model and technology. In his first public appearance since his departure from the company last year, he said at the 9th Annual Clean-Tech Investor Summit in Palm Springs, "My problem isn't with Better Place's business model, but with the company."
Agassi gave a presentation of electric car infrastructures. He declined to comment on the circumstances of his departure from Better Place, in which he still owns a 10% stake.
In a separate development, Better Place strategic investor VantagePoint Capital Partners announced that it was calling off a $1.25 billion financing round for investment in cleantech companies. The firm began raising capital for the new fund in 2010, and Better Place was one of its first portfolio companies. Sources in the US believe that the discontinuation of the financing round was due to a lack of interest in cleantech by large investors, especially pension funds.
Published by Globes [online], Israel business news - www.globes-online.com - on February 10, 2013
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