A public charging station in the Netherlands for an electric car. Photo: Gemeente Amsterdam
The Bay Area Air Quality Management District will host the Government of the Kingdom of the Netherlands, the State of California, and 150 delegates from 100 Dutch and California companies on Monday, January 9, to witness the historic signing of an agreement confirming a $21 million (€20 million) commitment to support electric vehicle technology and smart mobility policy development.
Dutch Minister of Economic Affairs Henk Kamp and Panorea Avdis, Director of the Governor’s Office of Business and Economic Development, will sign the Letter of Intent between the Netherlands and California to create a $21 million (€20 million) California/Dutch Business Fund.
The fund will provide money for electric vehicle technology and smart mobility policy development in California and the Netherlands. Smart mobility refers to multi-modal transportation planning that contributes to reduced emissions, traffic congestion and fuel consumption.
The Dutch Ministry of Economic Affairs will provide €10 million ($10.5 million) for a venture capital fund to be matched by private Dutch investors.
California’s GO-Biz program will facilitate access to the Small Business Loan Guarantee Program for intermediary development corporations/banks and California and Dutch businesses active in smart and e-mobility. Fund investments will contribute to economic development and job growth in both California and the Netherlands.
The signing ceremony will take place at 10:30 a.m. Monday, January 9, at the Bay Area Air Quality Management District, 375 Beale Street, San Francisco. A press conference will be held after the ceremony with Stella Lux, the award-winning solar car built by Solar Team Eindhoven.
Members of the press should call Kristine Roselius of the Bay Area Air Quality Management District at 415-749-4900 or email Carla Bundy of the Royal Netherlands Embassy in Washington, D.C.