Fastned raises over EUR 17 million to finance further growth
Fastned, the European fast charging network for electric vehicles, has raised over 17 million euro with the issue of bonds. In addition, investors have extended close to 4 million euro worth of investments from earlier issues, bringing the total issued amount in this round to more than 21 million euro. All newly issued bonds will mature in November 2025.
From 22 October to 19 November investors could subscribe to the bonds with 6% interest and a maturity of 5 years. In addition, an offer was made to investors with bonds maturing in December 2021, June 2022, and December 2022 to extend their investments by exchanging these older bonds for bonds in this new issue. Including earlier extensions this has reduced the repayment obligation for Fastned in 2021 and 2022 by more than 6.5 million euro.
“It’s great to see so many people investing in the energy transition. With the proceeds from this bond issue, we can further expand the capacity of our network. Fast charging infrastructure gives freedom to electric drivers and accelerates the transition towards sustainable mobility.”
Fastned has been developing fast charging infrastructure for electric vehicles across Europe since 2012. Fastned’s mission is to accelerate the transition to electric mobility by giving freedom to electric drivers. Based out of Amsterdam, the company has built 129 fast charging stations in the Netherlands, Germany, the United Kingdom and Belgium. Fastned is working on expansion into France and Switzerland. 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 has 70+ employees across 6 markets (the Netherlands, Germany, the United Kingdom, Belgium, France and Switzerland). Fastned is listed on Euronext Amsterdam (ticker AMS: FAST).