Amsterdam-based Fastned bags €13M to grow its EV fast-charging network

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Amsterdam-based Fastned, a fast-charging company, announced on Thursday that it has secured €10.8M with the issue of new bonds. 

Additionally, investors have extended €2.3M worth of investments from earlier issues, bringing the total issued amount in this round to over €13M. 

All newly issued bonds will mature in June 2027, says the company. 

From November 29 to December 21, investors could subscribe to the bonds with 5 per cent interest and a maturity of 4.5 years. 

Holders of Fastned bonds bought before April 2019 could also extend their investment by exchanging them for bonds in the new issue. 

This has reduced the repayment obligation for Fastned in 2022 by nearly €11M, including earlier extensions. 

Victor Van Dijk, CFO of Fastned, says, “This year, Fastned built more stations than in any year before, and we intend to increase the built-pace even further in the coming years to reach our goal of one thousand stations before 2030. We can only do that with the support of our investors, and I’m proud to see that many bondholders are committed to helping us accelerate the transition to e-mobility. Investing in Fastned means investing in a fossil fuel-free future and helping us build more new stations, enlarge existing ones, hire new talents, and meet the exponentially growing demand for EV charging.” 

The announcement comes a couple of months after raising €75M from Schroders Capital. In June 2022, the company raised nearly €23M with the issue of new bonds. 

Fastned intends to grow its installation of fast-charging network stations to 1,000 by 2030.

Fastned: What you need to know

Founded in 2012 by Michiel Langezaal and Bart Lubbers, Fastned aims to accelerate the transition to electric mobility by giving freedom to electric drivers. The company develops a fast-charging infrastructure for electric vehicles across Europe. 

Fastned owns and operates a network of electric vehicle charging stations in the Netherlands, Germany, Switzerland, the UK, and Belgium. The majority of its stations are located at Dutch highway rest areas. 

With over 215 fast-charging stations, the company provides a fast-charging infrastructure where drivers can charge their electric vehicles with up to 300 km of range in 15 minutes before continuing their journey. 

Fastned is listed on Euronext Amsterdam.

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