Dutch scale-up Fastned raises €150 million to expand its network of electric vehicle charging stations

Dutch scale-up Fastned raises €150 million to expand its network of electric vehicle charging stations

Fastned, the Amsterdam-based company that's been developing fast charging infrastructure for electric vehicles across Europe since 2012, has raised €150 million though an accelerated bookbuild offering to boost its growth.

The new securities offered up, which in total represent approximately 12.5% of the existing issued share capital of Fastned, were placed at a price of €80 apiece, giving the Euronext Amsterdam-listed company the cash proceeds it needs to expand.

To date, the company says it has built and operates 133 fast charging stations in the Netherlands, Germany, the United Kingdom, Belgium and Switzerland. It's keen to expand its network across Europe, and is looking at France and Germany in particular.

Michiel Langezaal, CEO of Fastned: "We are very happy with this successful capital raise which allows Fastned to significantly accelerate its expansion plans. It enables us to build more and bigger fast charging stations across multiple countries, living up to our mission of accelerating the transition towards sustainable mobility by giving freedom to electric drivers."

"Moreover, this transaction has attracted solid institutional investors to Fastned’s shareholder base, and provides a substantial increase of the free float of the depositary receipts traded on Euronext Amsterdam. Both are supportive to our continued growth, and in line with our ambition to become the leading fast charging network in Europe," Langezaal added.

Also read:

- Shell plans to buy Berlin-based electric vehicle charging startup ubitricity

- EIB invests €50 million in Wenea to roll out 470 electric vehicle charging stations across Spain

- Wallbox acquires Electromaps to add public charging stations network to its portfolio

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