Better Place, the world's leading mobility operator, Tuesday (Jan 27) announced in conjunction with DONG Energy, that it has closed approximately 103 million Euro in equity and convertible debt for the initial deployment of their electric car charging network in Denmark.
Under the terms of the agreement, DONG Energy will assist in the Better Place Denmark network rollout as well as be the preferred supplier of renewable energy to power the network. The move sets the stage for Better Place and DONG Energy to execute as planned against their commitment to enable the widespread adoption of mass-market vehicles by 2011.
"Our goal in investing in Better Place Denmark is to help reduce CO2 emissions and increase the consumption of sustainable energy by capturing and leveraging wind power more efficiently," said Anders Eldrup, CEO and President, DONG Energy.
The Danish government encourages its society to switch from petrol-based cars to zero emission vehicles and is committed to helping the country reduce its CO2 emissions by 21% by 2012.
Just by switching all vehicles to electric, Denmark could effectively reduce its current CO2 emissions by 17%. The Danish government encourages consumers to purchase zero emission vehicles by applying zero tax for zero emission vehicles while applying up to a 180% tax on the purchase of petrol-based cars.
(YOL)
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