February 23, 2010
Al Gore fund invests in Israeli start-up
Former U.S. Vice President Al Gore has invested in an Israeli start-up company with technology that promotes safe driving.
Gore’s cleantech fund Generation Investment Management LLP and five other investors have pledged $10 million in financing to GreenRoad Technologies Ltd., the Israeli business daily Globes reported late Monday.
GreenRoad was founded in 2002. Its proprietary technology-based GreenRoad 360 service provides drivers and fleet managers with real-time, comprehensive and preventative feedback, analysis, reporting and coaching on drivers’ abilities, maneuvers and patterns.
The company says that customers can realize a 50 percent reduction in accident-related costs and a 10 percent reduction in gas usage in the first year, Globes reported.
The company’s headquarters are located near San Francisco. Its research and development center is in Or Yehuda, near Tel Aviv.