Tuesday, May 28, 2013

Better Place Files For Bankruptcy

Electric car charging installer and operator Better Place has filed for bankruptcy, after burning through more than $750M in funding. The firm filed papers for the bankruptcy in Israel on Sunday. The firm had its U.S. headquarters in Palo Alto. Better Place was a provider of electric vehicle charging infrastructure, and had been backed by GE, UBS AG, Israel Corp., HSBC Group, Morgan Stanley Investment Management, VantagePoint Capital Partners, Ofer Group and Maniv Energy Capital.