Cleantech Investor

Published in: 2011 - A Review of Cleantech Equity Deals, January 2012

There were a host of deals in the EV charging infrastructure space in 2011 – sufficient for this sub-sector to merit its own section this year. Leading the pack – at least in terms of valuation – was the Better Place funding, which valued the company at $2.25 billion.

A major trend in evidence was the interest shown by industrial companies and telecommunications companies in the EV charging space. GE was amongst the new investors in Better Place, while other significant deals in 2011 included the ABB acquisition of Epyon (fast charging technology) and investment in ECOtality, the Qualcomm purchase of HaloIPT (inductive or wireless charging) and Toyota’s investment in WiTricity (wireless charging).

The equity deals were matched by a flurry of activity in terms of collaboration announcements. Non-equity deals during 2011 included:

- an agreement between GE and CODA Automotive for the distribution of the GE WattStation charging station;

- an announcement from Daimler that it will collaborate with Conductix-Wampfler on research into wireless charging, in a project part-funded by the German Federal Ministry for the Environment, Conservation and Nuclear Safety (BMU);

- news that Nissan and EV charging firm DBT are developing small DC fast chargers;

- IBM’s announcement that it will pilot a web and smartphone app which monitors charge levels;

- collaboration between Sumitomo and Nissan in the fast-charging space;

- a partnership between Nissan and 4R for solar charging systems for EVs;

- a collaboration between Evatran and Yazaki to develop wireless charging technology.

Meanwhile, a consortium of major automotive manufacturers is developing a standard for EV fast-charging. The group, which intends to create a universal charging system which will be compatible with charging methods across Europe and the US, includes Daimler, Audi, Ford, GM and Porsche.

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Published in: 2011 - A Review of Cleantech Equity Deals, January 2012

2011 saw follow-on funding for electric vehicle manufacturers including Tesla Motors (following on from its IPO in 2010), Fisker Automotive and CODA Automotive as they approach volume production.

However, some manufacturers were less fortunate. Think Global filed for bankruptcy in June - for the third time in its history. Think’s assets were acquired by Russian investor Boris Zingarevich, but the company’s collapse had already impacted its major shareholder, battery manufacturer Ener1 which was subsequently forced to file for bankruptcy in early 2012.

Aptera Motors, meanwhile, had failed to raise capital to enter production and closed down in December.

The failures of Think and Aptera followed the collapse at the start of 2011 of UK electric van manufacturer, Modec. Elsewhere, however, electric drivetrain technology attracted funding, with Mission Motors securing funding from Warburg Pincus and GKN taking a stake in EVO Electric.

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How the Midlands became a 'Plugged-in Place'

First published in Cleantech magazine Issue 4 2011 Bridgestone Eco-Rally Special. Copyright Cleantech Investor Ltd. 

by Louise Woodward, Cenex

The publication of a new UK Government infrastructure strategy for electric vehicle (EV) infrastructure on the 30th June 2011 has focused attention on the Plugged-in Places across the UK that are at the vanguard of the roll-out of a national charging infrastructure for electric and plug-in hybrid vehicles.  Among these Plugged-in Places, the Midlands is seeking to lead the way in both infrastructure roll-out and academic and industry research and innovation.