It's official: Better Place files for liquidation
The Better Place electric car company, once the very symbol of Israeli green innovation, filed for bankruptcy on Sunday asking the Lod District Court to dissolve the company.The company is likely to be studied in business school for years. I suspect it will be a model for a disconnect between visionary entrepreneurs and a public that isn't interested in the vision. Unfortunately, I suspect that other cleantech ventures - particularly those that are premised on paying more money (which Better Place claimed not to be) for energies that are cleaner during hard economic times - will go under.
“Despite significant efforts over that time frame, revenues are still insufficient to cover operating costs, and in the light of the continued negative cash flow position, the Board has decided that it has no option but to seek to make this application to the courts for an orderly liquidation of the company,” the company announced.
“This is a difficult day for all of us,” said Better Place CEO Dan Cohen. Despite its innovative vision and accomplishments, he said, the company was not financially viable. “Unfortunately, after a year’s commercial operation, it was clear to us that despite many satisfied customers, the wider public take up would not be sufficient and that the support from the car producers was not forthcoming.”
Labels: Cleantech, Israeli high tech
posted by Carl in Jerusalem @ 11:57 AM
2 Comments:
The public is very interested in the vision.
They are not interested in the present technology which does not meet many people's - and company's - driving requirements.
Car battery technology isn't ripe. Find a new longer lasting battery and quicker recharging and the cars will sell themselves.
Welcome to the free market! It works.
Any geniuses around who can move heat out of these energy/laser/etc systems would be worthwhile. Technical achievement needs to be the focus, not anti-carbon rants/advocacy and the "Clean Energy" being used as a bat against free markets. So how does it work... they took all the Green $lu$h and will be able to walk away leaving it to US taxpayers (or whichever countries) to pay it back? Also, will the Green $lu$h TV ads still be available for the Progressive Dems to use in 2014 and 2016, with the low info voters not knowing about the technical failure (although they are part of the future, once they work) of the Green $lu$h "investments"? Chaos. War against the poor.
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