Additional growth capital for Fastned
Investment fund acquires 1 mln euro worth of certificates of shares, with an option to increase to 2,5 million euro
Amsterdam 8 June 2017. Fastned, that is rolling out a European network of fast charging stations where all electric cars can charge, has raised 1 million euro of additional capital through the issue of certificates of shares to investment fund Ballotta B.V.. Both parties have signed an agreement that could see the investment increase to 2,5 million euro by the end of 2018. The newly raised capital will be used to finance further growth of the Fastned network. The investment is in addition to the 7,7 million euro bond issue that Fastned closed just two days ago.
Ballota B.V. is an Amsterdam based investment fund that invests in real estate, stocks and bonds. For her investment of 1 million euro Ballotta receives 100.000 depository receipts of shares of Fastned. The depository receipts of shares of Fastned are listed on the Nx’change stock exchange.
Ballotta: “Fastned caught our eye some time ago. Ballotta believes that Fastned deserves support because they are investing in sustainable infrastructure, are ahead of their market and have a clear vision of where to go. Ballotta is confident that the growth of the number of electric cars will accelerate further. This forms the basis of this investment.”
Bart Lubbers, co-founder of Fastned: “I am very happy to welcome Ballotta to our growing group of investors. The market is accelerating and this is reflected in growing interest of investors to invest in our company. This provides us with the funds to expand our network of fast charging stations to countries across Europe.”
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Fastned is a charging company that is building a European network of fast charging stations where all electric cars can charge as fast as possible. The stations are located at high traffic locations along the highways and in cities, where electric cars charge in an average of about 20 minutes. This will give electric cars the freedom to drive across Europe. As of today, Fastned has 89 stations operational in the Netherlands and Germany and is working on expanding its fast charging network to the rest of Europe. Fastned is simultaneously building fast charging stations in the Netherlands, Germany and the United Kingdom and is preparing for expansion in Belgium and Switzerland.