Better Place, a hot new start-up headed by Israeli entrepreneur Shai Agassi, announced Monday it has signed cooperation agreements with 19 leading Israeli companies to test the suitability of its model for their fleets.

Better Place aims to reduce global dependency on petroleum through the creation of a market-based transportation infrastructure that supports electric vehicles, providing consumers with a cheaper, cleaner, sustainable, personal transportation alternative.

The company will build its first electric vehicle networks in Denmark, Israel and Australia where the electricity will be generated by renewable energy.  The company has that it is in talks with over 20 countries around the world.

Israel leads the world in finding new solutions in utilizing renewable energy.