Fastned accelerates roll-out with a 2.5 million Euro loan
Amsterdam, 23 June 2014. Fastned has secured a 2.5 million Euro loan from Flowfund to accelerate the roll-out of fast charging stations for electric vehicles. Fastned is building a nationwide network of fast charging stations along Dutch highways and announced in May that it is planning an IPO via SME-exchange NPEX. With the Flowfund loan Fastned can increase the pace of constructruction to one station per week even before going public this summer.
Flowfund was started by impact investor Fred Matser. He is excited to help Fastned in realising its ambition to build a nationwide network of 201 fast charging stations. Fred Matser: “Flowfund has the ambition to support sustainable business initiatives with a promising business case. Fastned fits that description perfectly and we are happy to help them accelerate even before they go public.”
On May 8th Fastned announced that it is preparing an IPO and aims to be listed at NPEX this summer. In this way Fastned wants to finance the further roll-out of fast charging stations. Fastned is now awaiting approval of the prospectus by the Dutch Financial Authority AFM. Co-founder Bart Lubbers: “The waiting is almost over. It won’t be long before everybody can become a co-owner of Fastned”.
Based on the Flowfund loan orders have already been placed with suppliers. From the beginning of September one fast charging station per week will be opened, starting at the following locations: Mienscheer (A7, Drachten - Groningen), Witte Molen (A28, Groningen - Assen), Broerdijk (A7, Amsterdam - Afsluitdijk), De Horn (A7, Afsluitdijk - Amsterdam), Knorrestein (A12, Utrecht - Den Haag), Zuidpunt (A16, Rotterdam - Breda), Elsgeest (A44, Den Haag - Amsterdam), Swentibold (A2, Maastricht - Eindhoven), Knuvelkes (A2, Maastricht - Grens) en Patiel (A2, Grens - Maastricht).
“Flowfund has the ambition to support sustainable business initiatives with a promising business case. Fastned fits that description perfectly and we are happy to help them accelerate even before they go public.„ Fred Matser, Flowfund
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Fastned is building a European network of fast-charging stations where all electric cars can charge. The stations are located at high traffic locations along the highway and in cities, where electric cars can charge in 20 minutes. This will provide freedom for electric cars to drive across Europe. As of today, Fastned has 63 stations operational in The Netherlands and is working on expanding its fast charging network to the rest of Europe. Fastned is preparing the construction of fast charging stations in Germany, The United Kingdom and Belgium. Fastned is listed on the Nxchange stock exchange.
Fastned is rolling out it’s network of fast charging stations in response to the rapidly increasing numbers of EV’s in Europe. Car manufacturers such as Tesla, Audi, Volvo, Aston Martin, BMW, Nissan, Mitsubishi, Porsche, Volkswagen, Mercedes, Ford, General Motors en Renault and other car manufacturers are investing billions of Euro’s in the development of, and production capacity for EV’s. More and more EV’s are hitting our roads which drives the need for charging infrastructure. Fastned is responding to this development by building the service stations of the future. Co-founder and CEO Michiel Langezaal: “We are the Shell of the future, only our energy comes from the sun and the wind."