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 a charging company that is building a European network of fast charging stations where fully electric vehicles can charge as fast as possible. The stations are located at high traffic locations along highways and in cities, where electric cars charge in an average of about 20 minutes. This will give drivers of fully electric vehicles the freedom to drive across Europe. As of today, Fastned has more than 105 stations operational in the Netherlands, Germany and the United Kingdom, and is working on expanding its fast charging network to the rest of Europe. Fastned is currently simultaneously building fast charging stations in the Netherlands, Germany and the United Kingdom, and preparing for building its first stations in other countries, with a focus on Belgium, Switzerland and France. More information: fastnedcharging.com.