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Irish Utility ESB Invests $20M in Tesla Motors

Discussion in 'Tesla, Inc.' started by dpeilow, Dec 1, 2008.

  1. Chris H.

    Chris H. Member

    Dec 2, 2007
    #4 Chris H., Dec 12, 2008
    Last edited: Dec 12, 2008
  2. Bob Smith

    Bob Smith Member

    Dec 11, 2008
    San Jose
    Eyes turn to auto start-ups' funding, aid requests | Green Tech - CNET News

    Link states;

    The Irish Independent newspaper on Sunday reported--incorrectly--that Irish utility Electricity Supply Board (ESB) invested in all-electric luxury car make Tesla Motors.

    A representative from ESB on Monday said that ESB's clean-tech fund put a bit less than $20 million into a fund run by Tesla investor Vantage Point Venture Partners. ESB's money has not gone directly into Tesla, but ESB is backing other clean-tech companies including electric car firm Better Place as well as solar firms Miasole and Brightsource Energy

    Although it's not involved with Tesla, ESB's investment in Better Place shows that the idea of electric utility investing in a car company is far from outlandish.

    The Irish government recently launched a program designed to get 10 percent of cars running on electricity by 2020, according to reports. Denmark, Israel, and Portugal have signed on with Better Place to build a network of charging stations.

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