Fastned starts subscription to new bonds

Amsterdam, 12 September 2023. Fastned, the European fast charging company, will today start subscription to a new bond issue. Proceeds will be used to continue to grow the network in existing and new markets. Newly introduced European regulations supporting the transition to electric driving will create even more opportunity for Fastned to grow its network across Europe.

Although not profitable for the time being, Fastned reached a mid-year financial milestone with a positive underlying EBITDA result1, demonstrating the strength of Fastned's business model. The financial performance of Fastned comes on the back of continued growth of the charging market. The number of electric vehicles is expected to grow from 3 million in 2022 to more than 44 million in 20302. 
Recently introduced European regulations supporting the transition to electric driving, such as AFIR, are likely to increase the number of tenders for fast charging infrastructure on European motorways. Being one of the most experienced players in the European industry, offering one of the best charging concepts, Fastned is well-positioned to continue its high win rate for such tenders. 

In light of this exponential European market growth, Fastned announced earlier it will expand its network into Denmark and Italy, its seventh and eighth markets in Europe. Fastned's award-winning charging concept supports the electric transition. During the first half of the year, more than 1.7 million times an electric vehicle was charged on Fastned’s network, enabling more than 200 million kilometres to be driven without burning fossil fuel. Fastned aims to build a network of one thousand stations by 2030. By leading the transition to e-mobility in Europe, Fastned contributes to a more sustainable future. 

In June 2023, Fastned raised €21.9 million with the issue of new bonds. In addition, investors extended €2.4 million worth of investments from earlier issues, bringing the total issued amount in this round to over €24 million. More information on Fastned’s results can be found in the 2023 Interim Report. 

Fastned is now launching a new bond round in the Netherlands and for the first time in Belgium. More information about Fastned and the bonds, including risks, costs and fiscal treatment, can be found in the prospectus, available here. 
 

¹The financial information has not been audited by an external accountant

²Source Charge Up Europe