Fastned, a Dutch fast-charging company, has announced the issuance of €21.5 million in new bonds with a 6% coupon and a 5-year maturity. This brings the total amount invested in Fastned through new bonds to over €82 million in 2024 alone, which includes €32.9 million and €24 million secured in June and February respectively.
Of this latest issue, €4.9 million came from investors extending their investments from earlier tranches. It is the 16th tranche in Fastned’s bond programme and brings the total amount of bonds with retail investors to more than €212 million.
“We are proud that our valued investors have again placed their faith in Fastned to power Europe’s transition to electric mobility and develop the charging infrastructure of the future. The number of electric cars on the roads continues to grow. As we continue to win tenders for high-value locations across Europe, our long-standing goal of establishing 1,000 fast-charging stations by 2030 is right on track. This support is crucial as we strive for the best charging experience for drivers and the continued expansion of our network, in both new and existing markets, said Michiel Langezaal, CEO and co-founder of Fastned.
Future of e-mobility
The latest bond issuance will likely be used to expand Fastned’s charging station network. The company aims to leverage this capital to establish more fast-charging stations at high-traffic locations, further solidifying its position as a key player in the continent’s e-mobility infrastructure development.
Fast-charging solution for sustainable e-mobility
Founded in 2012 by Michiel Langezaal and Bart Lubbers, Fastned has established itself as a pioneer in the European fast charging landscape. Their mission is to accelerate the transition to sustainable e-mobility. They achieve this by building and operating a network of iconic fast-charging stations, recognisable by their signature yellow and nature-inspired design. These stations allow drivers to conveniently charge their electric vehicles in 10 to 15 minutes, offering up to 300 km of range.
The fast-charging market
The company’s strategic focus on building a robust charging network powered by renewable energy sources aligns well with broader environmental goals and market trends. Langezaal’s vision for the future shows the company’s commitment to sustainability and innovation. By fostering a strong community of bond investors and leveraging these funds to enhance its infrastructure, Fastned aims to play a crucial role in the transition to a more sustainable transportation system.
The issuance of new bonds highlights the company’s ongoing efforts to expand its fast-charging network and support the growing electric vehicle market.
However, the company shows promising growth potential but faces considerable challenges in an increasingly competitive EV charging market. To stay a top provider in Europe, it must continuously innovate and enhance services. Additionally, regulatory shifts across Europe could impact Fastned’s expansion, as evolving climate policies may introduce incentives or restrictions that could either boost or hinder EV charging providers.
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