Fast car charging startup Fastned wants to get listed on Amsterdam stock exchange, Euronext

Electric vehicles were in use since the past few years but have gained immense popularity off late. These days, electric scooters and cars are quickly replacing the fuel-powered vehicles in many countries. The prime reason for the increase in the growth of electric vehicles is the awareness of environment-friendly options that has made people cut down their dependence on fossil fuels for transportation.

Electric vehicles are already common in many European countries including France, Germany, the UK and the Netherlands. Cashing in on this trend, several startups have started coming up with their offerings for people. One such Dutch startup is Fastned.

Since 2012, Fastned founded by Bart Lubbers and Michiel Langezaal in Amsterdam provides a wide network of fast-charging stations to charge electric cars. Recently, the company tapped into Switzerland and is also aiming to establish its presence in Belgium and the UK. It already has nearly 90 fast charging stations in Germany and the Netherlands.

Wants a listing on Euronext

Now, the Dutch fast-charging startup intends to get listed on Euronext Amsterdam. The stock exchange listing is likely to happen in the first half of this year. By getting listed on the exchange listing, Fastned can take the next step towards its development by creating additional funding flexibility, access to capital markets to implement its growth strategy and enhance its profile and brand recognition among clients, business partners, investors and employees.

Fastned is already listed on Nxchange, the trading platform and has appointed ING Bank N.V. to act as a listing agent on Euronext Amsterdam. The startup will use this listing for the issuance of new depositary receipts for shares that help fund the capital expenditure related to the implementation of growth strategy.

Regarding the Euronext listing, Michiel Langezaal, CEO of Fastned said, “Fastned is a rapidly growing fast charging company in Europe. With over five years of experience in building and operating a network of fast charging stations, we are well positioned to benefit from the accelerating transition to full electric vehicles. Fast charging stations are key infrastructure that can scale rapidly to cater to the fast-growing demand for charging infrastructure. In light of these developments, we consider it the right time to list on Euronext Amsterdam. This listing will create additional funding flexibility and will offer more investors the possibility to invest in the megatrend towards electrification of mobility.”

Changes to the board

In light of the proposed listing on Euronext Amsterdam, Fastned’s management board will comprise two members – Michiel Langezaal, one of the founders and CEO and Niels Korthals Altes, the COO and head of funding. Also, there will be a supervisory board headed by Bart Lubbers, one of the founders and a member of the management board and two additional members.

Fast charging with renewable electricity

Fastned’s fast-charging stations support a range of electric vehicles from brands such as Tesla, Nissan, Hyundai and BMW. It is as simple as just inserting the plug into the vehicle and start the charging session via the charging card or Fastned app. While it charges electric vehicles up to 80% in just 20 minutes, it uses 100% renewable electricity for the purpose. All the fast charging stations use 175kW fast chargers that can be upgraded to 350kW. These fast chargers can charge the electric vehicles up to 100 times faster than the charging pads at home.

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