Fastned raises close to €11 million to finance further expansion
Amsterdam 21 December 2022. Fastned, the European fast charging company, has raised €10.8 million with the issue of new bonds. In addition, investors have extended €2.3 million worth of investments from earlier issues, bringing the total issued amount in this round to over €13 million. All newly issued bonds will mature in June 2027.
From 29 November to 21 December, investors could subscribe to the bonds with 5% interest and a maturity of 4.5 years. Holders of Fastned bonds bought before April 2019 could extend their investment by exchanging those bonds for bonds in the new issue. Including earlier extensions, this has reduced the repayment obligation for Fastned in 2022 by nearly €11 million.
"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 support of our investors and I’m proud to see that many bondholders are committed to help 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." Victor Van Dijk, CFO Fastned
About Fastned
Fastned is a charging company that is building a European network of fast charging stations. The stations are located at high traffic locations along highways and in cities, where electric cars can add up to 300 km range in 20 minutes. Fastned's mission is to give freedom to electric drivers and accelerate the transition to sustainable mobility. As of today, Fastned has more than 230 stations operational in the Netherlands, Germany, the United Kingdom, Belgium, France and Switzerland and is working on expanding its fast charging network to the rest of Europe. Fastned is listed on Euronext Amsterdam (ticker AMS:FAST). More information: fastnedcharging.com.