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London Tech Week

Fastned raises €30M for expanding rapid EV charging network: 300km range in 15 minutes!

Picture credits: Fastned

Fastned, the Amstamdam-based fast EV charging company that aims to build an extensive European network of fast-charging stations, has raised an additional €30.4 million with the issue of new bonds. 

Moreover, investors demonstrated their confidence by extending €3.5 million from prior investments, contributing to a total issuance of €33.9 million in this funding round. These bonds come with a competitive 6% coupon rate and a maturity period of 5 years. This also marks as the 13th round within their bond program, propelling the total investment raised from retail investors to an impressive €163 million.

Earlier this year, Fastned secured €22 million via the issuance of bonds. With the influx of this new investment, the Dutch company plans to expand its EV fast-charging network across Europe. 

Founded in 2012 by Michiel Langezaal and Bart Lubbers, Fastned aims to accelerate the transition to electric transportation by establishing a comprehensive fast-charging infrastructure across Europe. 

Currently operating over 150 stations, the company aims to add another 60 by the end of 2023 and 400 more stations by 2025. Its charging stations are located in high-traffic areas such as motorways and city centres. Also, the charging speeds are up to 350 kW, enabling EVs to achieve a range of up to 300 kms in just 15 minutes.

The company owns and maintains an extensive network of electric vehicle charging stations in the Netherlands, Germany, Switzerland, the United Kingdom, and Belgium, with a significant presence at rest stops along Dutch highways. 

Fastned has built more than 280 fast charging stations in the Netherlands, Germany, United Kingdom, Belgium, France and Switzerland. It will open its first station in Denmark by the end of 2023 and its first station in Italy by the end of 2024. The company specialises in developing and operating fast charging infrastructure where drivers can charge their electric vehicle with up to 300 km of range in 15 minutes before continuing their journey. Fastned is listed on Euronext Amsterdam.

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