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Fastned raises EUR 11m to grow EU fast-charging EV network

Electric cars

October 31 (Renewables Now) - Dutch company Fastned said today it has raised over EUR 11 million (USD 12.5m) to support its growth and to expand its network of fast-charging stations in the Netherlands, Germany, Belgium and the UK.

The company secured the amount through a public issuance of five-year bonds bearing a coupon of 6%.

Fastned co-founder, Bart Lubbers, said that more than 5,000 people have invested in the company so far. The firm, which is building a European network of fast charging stations, currently has 78 operational sites in the Netherlands and Germany, and 15 under construction.

The company said that in September it has reached operational break-even, which means that the costs associated with its stations are covered by the revenues generated by them.

(EUR 1 = USD 1.13)

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