Fastned Strengthens Capital Position

Fastned Strengthens Capital Position

PR Newswire

AMSTERDAM, January 18, 2019

AMSTERDAM, January 18, 2019 /PRNewswire/ --

Fast charging company attracts 6 million euro of new capital

Fastned, which is building a European network of fast charging stations, has strengthened its balance sheet with 6 million euro of new equity. This includes 3.5 million euro of new capital as well as the conversion of a loan of 2.5 million euro from Flowfund. The new capital will be used to finance further expansion of the Fastned network.

For this issue new certificates of shares were issued at a price of 10 euro apiece. The Fastned certificates can be traded via the Nx'change stock exchange.

Bart Lubbers, co-founder Fastned: "With this capital increase, Fastned can further expand the network of fast charging stations and thus offer even more freedom to electric drivers. Flowfund has supported Fastned almost from the start. The conversion of their loan to capital is a strong sign of confidence in our future." 

Background information about Fastned: 

Fastned is building a European network of fast-charging stations where all electric cars can charge as fast as possible with 100% renewable energy. The stations are located at high traffic locations along the highways and in cities, where EVs can charge in approximately 20 minutes. Fastned's goal is to build a European network of one thousand fast charging stations. This will give electric drivers the freedom to drive across Europe. As of today, Fastned has 86 stations operational in The Netherlands and Germany. Fastned is preparing the construction of fast charging stations in The Netherlands, Germany, The United Kingdom and Belgium. Fastned is listed on the Nxchange stock exchange.

Fastned is rolling out its network of fast charging stations in response to the rapidly increasing numbers of EVs in Europe. Car manufacturers are investing billions of Euros in the development of, and production capacity for, EVs. More and more EVs are hitting the roads, which drives the need for charging infrastructure. For more information go to http://www.fastned.nl/en

 

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