EVObsession logo

Connect with us

Hi, what are you looking for?

EV Charging Stations

Fastned Secures Financing For Next 3 Years Of Operation

The electric vehicle fast-charging station company Fastned has secured new funding to cover its operational expenditures for the next 3 years, according to an email sent recently to EV Obsession and CleanTechnica.

The new financing will allow the Amsterdam-based company to grow and expand faster than would otherwise be possible — notably, the company is planning to soon expand its operations outside of the Netherlands for the first time.

Fastned

The company currently possesses a network of 50 fast-charging stations in its home country — and has experienced rapid growth over the last year, both with regard to station numbers and other factors.

The recent email provides more details:

During the last year Fastned has grown at over 10% per month in terms of its customer base, kWh’s delivered, and revenues. It is anticipated that the first charging stations will pass break-even by mid next year. As a result of continued favourable tax incentives for electric cars in the Netherlands this point may come even sooner.

In anticipation of this moment Fastned has come to an agreement with its investors to create a solid financial base sufficient to cover all operational costs for the next three years. As part of this, investor Breesaap has extended its loan to 10 million euro. Furthermore, the loans of both Breesaap and the Flowfund Foundation have been extended by two additional years until 31 December 2018. In addition, interest accumulated until the 31st of December 2015 on both loans has been converted into certificates of shares of Fastned at a price of 10 euro apiece. Both investors maintain the right to convert the interest and/or the principal at this price, for the duration of the loan.

The company’s co-founder, Bart Lubbers, has also contributed a working capital facility of €5 million through his investment company Wilhemina-Dok BV.

 
Written By

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy. You can follow his work on Google+.

Comments
Advertisement
Advertisement

Free electric vehicle news daily

Advertisement

You May Also Like

100% Electric Vehicles

After a steep drop from the Tesla Model S, the BMW i3 is the most expensive electric car on the US market (just slightly...

100% Electric Vehicles

This article is also being published on EV Obsession and EV Sales. The Chinese market had more than 34,000 new EVs zooming the streets last...

100% Electric Vehicles

Tesla has several big competitive advantages, imho. I’m going to discuss 5 below, but 3 tangible ones and 2 intangibles. [Full disclosure: I’m long...

100% Electric Vehicles

Electric car cost vs gas car cost is a perennial issue of discussion. Of course, the result keeps changing, and the options for comparison...