€24m to expand European EV fast charger network

€24m to expand European EV fast charger network

Business news |
By Nick Flaherty

Fastned has raised €24m to expand its EV fast charger network across Europe.

The funding comes from the sale of €21.9m of 5 year bonds as well as €2.4m from existing investors.  

Recent European regulation requiring fast charging infrastructure across Europe’s main roads will result in more tenders in the coming years and Fastned says it is well-positioned to continue its high win rate for such tenders. 

Fastned is aiming to install 1000 fast charger sites by 2030. It opened its 250th fast charger site in Martlesham in the UK in February this year and is building Europe’s first electric only service station (shown above). This will be on both sides of the E17 near Ghent in Belgium with 12 400kW fast charging points on both sides powered by renewable energy.

‘We are proud of the trust investors have put in Fastned again. Despite a challenging capital market environment, with continued inflation and increasing interest rates, Fastned once again proved its resilience in the retail bond market with a solid and growing investor base,” said Victor van Dijk,  chief financial officer of Fasned.

“Together, we not only build fast charging stations on high traffic locations, but we also grow a community around electric driving. We believe that the electric revolution will really take off when charging becomes hassle free and that is why we roll out our network across Europe: to offer freedom to electric drivers,” he said.



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