Fastned, the electric vehicle (EV) fast charging company, raises almost €11 million to finance further expansion

Fastned, the European electric vehicle (EV) 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. This brings 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 per cent 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. 

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Victor Van Dijk, Fastned CFO, said: “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 from our investors and I’m proud to see that many bondholders are committed to helping us accelerate the transition to emobility. 

“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. ”

This investment follows the news in October that the company had received a €75 million strategic investment from Schroders Capital to accelerate future growth. 

The company, which played a big part in the opening of Energy Superhub Oxford, is going from strength to strength and accelerating the pace of station openings, bringing the company closer to its goal of operating a Europe-wide network of 1,000 fast-charging stations at prime locations. 

Ian Osborne
Ian Osborne
Editor-in-Chief at ElectricDrives

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