HSBC Banks $350M On Electric Car-Charging Startup

Law360, New York (January 25, 2010, 4:00 PM EST) -- Better Place, a startup developing the first electric vehicle charging stations, has secured $350 million in venture financing from a consortium of investors led by HSBC Holdings PLC.

Better Place announced the deal on Sunday, championing the agreement as one of the largest clean-tech investments in history that as paving the way towards the electric future of the automobile industry.

Under the financing agreement, which values the startup at $1.25 billion, HSBC Head of Global Capital Financing Kevin Adeson will join the Better Place board of...
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