Shai Agassi Returns With New Company Newrgy

JUL 27 2014 BY MARK KANE 12

Better Place Founder Shai Agassi Was Eventually "Removed" As CEO Of Better Place By Its Board

Better Place Founder Shai Agassi

Shai Agassi, the founder and CEO who was highly successful in raising money, but not so successful in execution at Better Place has found a better place – Newrgy.

Newrgy seems to be another start-up.  Its website tells us that company is in “Stealth Mode” and shows some photovoltaic arrays.

Its name, Newrgy, indicates a connection to the Energy sector.

According to Globes article, this will be an electric public transport company targeting government and municipal customers (oh yeah).

“A year after the liquidation of his Better Place electric car venture, entrepreneur Shai Agassi is planning a comeback with a new venture in the environmentally friendly energy field: Newrgy. The size of the Agassi’s new company’s financing round and who will provide the initial financing are not yet known.”

At the end of June, Agassi was seen under the title of Newrgy founder and CEO at a conference on alternative solutions for municipal transportation organized by the Frost and Sullivan consultant firm in London.

“Former Better Place executives believe that Agassi’s new company is likely to focus on electric public transportation, especially mass transit, a field in which government and municipal financing is important. The company is likely to combine several technologies and principles for regulation of battery charging developed by Better Place, but will probably not market to private consumers initially; it will aim its efforts at government and municipal customers, such as the Greater London Authority. When Better Place was active, the company ran several pilot mass transit programs for electrical taxicabs with replaceable batteries in Tokyo and Amsterdam. These were considered successful at the time, and attracted great interest among municipalities and governments.”

Source: Globes

Categories: General


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12 Comments on "Shai Agassi Returns With New Company Newrgy"

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It’s uplifting that he hasn’t given up.

Con men never do.

some investors are idiots and deserve to be robbed

Fail upwards!

Fail in a pito and your screwed , fail in a cady! Your back the next week.He be fine for sure

Schtick from a Schmuck…..

What a pisher !!

How many syllables is “Newrgy”?

…I am told if it is spoken out loud a puppy dies

It reminds me of some kind of abbreviated word… like ‘Murica.

This is the key phrase from the article: “targeting government and municipal customers.”

Like his previous scam, Shai is relying on his government cronies to “invest” tax payer money.

Ha, these as PV panels from SunPower – easy to tell since they are the only solar panels with back-contact cells.

What is Newrgy up to other than pretending to have the world’s most efficient panels??

There is a special place in my heart for these con artists, from the likes of Aptera, ZAP, and BetterPlace, etc…. They have slowed down the EV evolution by giving the EV world such a bad name.