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Better Place lost $459M on $6.9M in sales last year; cumulative losses of $812M

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Under the Liquidation Petition filed in Israel on Sunday, Better Place listed assets of $9.5 PrivCo CEO and Corporate Lawyer Sam Hamadeh explained that the Israeli insolvency regime is based on the Companies Ordinance (New Version) 5743-1983, the Companies Regulations (Liquidation) 5477–1987, and the Bankruptcy Ordinance of 1980.

Israel 231
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2nd Better Place CEO out; company to be managed by Chairman of Board and CFO

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Globes in Israel reported that sources said that Thornley left over differences with Chairman Idan Ofer over Better Place’s future, especially over plans to reduce activity in global markets and focus on its core markets of Israel and Denmark.

Israel 231
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Ampal Signs Option Exercise Agreement to Acquire 25% in Ethanol Project in Colombia

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Israel-based Ampal-American Israel Corporation signed an option exercise agreement with Merhav (M.N.F) Israel-based Ampal-American Israel Corporation signed an option exercise agreement with Merhav (M.N.F) Colombia requires 10% ethanol blending in gasoline distributed in Colombia.

Colombia 186
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Toyota Research Institute launches Toyota AI Ventures with $100M investment

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Toyota Research Institute (TRI) is investing an initial $100 million to launch Toyota AI Ventures , a new corporate venture capital subsidiary designed to provide early-stage financing to startup technology companies. TRI participated in Nauto’s $12M Series A financing in August 2016.

Toyota 170
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Chinese automakers bring hybrids and plug-ins to Detroit, Geneva auto shows

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—a partnership between Chery Automobile, China’s largest independent car manufacturer, and Israel Corporation—is bringing its Cross Hybrid Concept to the Geneva Motor Show in March. Guangzhou Automobile Group. Click to enlarge. Qoros Auto Co.

Detroit 261
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Karamba Security raises $10M in new funding; round led by VinFast

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Israel-based Karamba Security , a leading developer of endpoint protection for connected devices, has secured $10 million in new funding in an extension to its B Round financing.

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Pike Research makes 10 electric vehicle predictions for 2013

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Battery swapping gives way to battery financing. Battery swapping pioneer Better Place, which saw key executives leave in 2012, has failed to capture the expected number of subscribers to its EV service in the initial launch market of Israel and borrowed money to continue the expensive build-out of battery swap stations in Denmark.

2013 378