Fastned wants to more than double the number of charging stations

Fastned, operator of the well-known fast charging stations with the yellow arches, has raised 150 million euros with a share issue on the stock exchange. The Dutch company wants to use that money to more than double the current number of charging stations.

Fastned has placed a total of approximately 1.9 million new depositary receipts for shares on the market. Investors had to pay 80 euros for the pieces. Fastned wants to use the fresh capital to build 164 new charging stations, among other things. That is more than double the 133 fast charging stations that the company currently has spread across the Netherlands, Germany, the United Kingdom, Belgium and Switzerland. Fastned also recently won a tender to operate fast charging stations along French car routes. They have to be placed this year.

CEO Michiel Langezaal is pleased with what he believes to be a successful capital increase, as it will enable Fastned to significantly accelerate its own expansion plans. “It allows us to build more and larger fast charging stations in different countries,” he says. Despite the corona crisis, Fastned has had a fairly stable year in 2020. Sales amounted to € 1.9 million and the customer base grew by 25 percent. Fastned will have to work hard in Europe, because Ionity already had more than 300 fast charging points in Europe at the end of last year and this year they have to break the limit of 400 units. So there’s work to be done.

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