FASTNED B.V. Amsterdam, 12 September 2023. Fastned, the European fast charging company, will today start subscription to a new bond issue. Proceeds will be used to continue to grow the network in existing and new markets. Newly introduced European regulations supporting the transition to electric driving will create even more opportunity for Fastned to grow its network across Europe. The new bonds have a maturity of five years, are available in units of €1,000 each and offer a gross interest of 6% per year.
Halfway through the year, Fastned reached a financial milestone by becoming underlying EBITDA positive1, showing the strength of Fastned's business model. The strong financial performance of Fastned comes on the back of continued growth of the charging market. The number of electric vehicles is expected to grow from 3 million in 2022 to more than 44 million in 20302.
Recently introduced European regulations supporting the transition to electric driving, such as AFIR, are likely to increase the number of tenders for fast charging infrastructure on European motorways. Being one of the most experienced players in the European industry, offering one of the best charging concepts, Fastned is well-positioned to continue its high win rate for such tenders.
In light of this exponential European market growth, Fastned announced earlier it will expand its network into Denmark and Italy, its seventh and eighth markets in Europe.
Fastned's award-winning charging concept supports the electric transition. During the first half of the year, more than 1.7 million times an electric vehicle was charged on Fastned's network, enabling more than 200 million kilometres to be driven without burning fossil fuel. Fastned aims to build a network of one thousand stations by 2030. By leading the transition to e-mobility in Europe, Fastned contributes to a more sustainable future.
In June 2023, Fastned raised €21.9 million with the issue of new bonds in the Netherlands. In addition, investors extended €2.4 million worth of investments from earlier issues, bringing the total issued amount in this round to over €24 million. More information on Fastned's results can be found in the2023 Interim Report.
Holders of Fastned bonds issued before January 2020 can exchange them for new bonds. Subscription to the bond issue starts on 12 September at 07.30 am. CET via theFastned websiteand ends at 12:00 pm. CET on 16 October 2023. More information about Fastned and the bonds, including risks, costs and tax treatment, can be found in the prospectus, which is availablehere.
1The financial information has not been audited by an external accountant.
2 Source: Charge Up Europe
About Fastned
Fastned has been developing fast charging infrastructure for electric vehicles across Europe since 2012. Fastned's mission is to accelerate the transition to sustainable mobility by giving freedom to electric drivers. Founded in Amsterdam, the company has built more than 275 fast charging stations in the Netherlands, Germany, United Kingdom, Belgium, France and Switzerland. It will open its first stations in Denmark by the end of 2023. The company specialises in developing and operating fast charging infrastructure where drivers can charge their electric vehicle with up to 300 km of range in 15 minutes before continuing their journey. Fastned is listed on Euronext Amsterdam (ticker AMS: FAST).
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Fastned BV published this content on 13 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 September 2023 09:51:22 UTC.
