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Fastned raises €12.3M in 10 days for expansion of European fast charging network

Fastned, the Dutch company building a European network of fast charging stations, has raised €12.3 million (US$14.5 million) in 10 days via a public issue of bonds. The proceeds of this issue will be used to further expand the network of fast-charging stations in the Netherlands, Germany other European countries.

Investors could subscribe to the issue between Tuesday 28 November and 12 December. However, the issue was already fully subscribed by 7 December. The bonds pay out 6% interest per annum and have a maturity of 5 years. The interest is paid quarterly in arrears.

More and more people see that the future is electric and want to invest in the sustainable mission of Fastned. This is reflected in the incredible demand for our bonds. We will use the proceeds of this issue to build dozens of new stations and add chargers to existing locations. We really need to expand the number of fast-charging stations because our growth is accelerating and queues at our stations are becoming more common.

—Bart Lubbers, co-founder of Fastned

Fastned currently has 63 stations operational and a new series of stations under construction. In recent months Fastned invested in new grid connections and the purchase of faster chargers with a charging power of up to 350 kW. These will be installed before the end of the year and allow EV drivers to charge up to 100 times faster than at home.

Fastned has grown at a rate of around 10% month-on-month in the past few years.

Fastned has a portfolio of AAA locations where fast charging stations can be realized. In 2012, Fastned acquired concessions for the sale of electricity to electric cars at 201 of the 245 service locations along the Dutch highways. In the past year, the portfolio has been expanded with a large number of locations in Germany and Belgium. Fastned also signed an agreement with Transport for London (TfL) for the realization of fast-charging stations in the United Kingdom.



More good news for EUs electric vehicles users.

Very quick charge (350 KW) facilities will be appreciated.

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