Fastned grows 110% in the fourth quarter
Dutch fast charging company’s revenue growth exceeded 15% per month in the last quarter of 2017
Amsterdam, 12th of January 2018.
In a year on year comparison with Q4 2016, Fastned’s volume, revenue and number of customers showed strong growth in Q4 2017. This is despite the fact that car manufacturers such as Hyundai and Opel have not been able to deliver sufficient numbers of electric cars in the Netherlands to meet strong market demand.
- Volume: 362,498 kWh (+115%)
- Revenue: € 170,960 (+110%)
- Active customers: 6,278 (+98%)
- There were about 20,000 fully electric cars in the Netherlands at the end of 2017 - an increase of 54% compared to the previous year. This implies that Fastned outgrew the market by more than a factor of two.
- Ten Fastned fast-charging stations passed the operational break-even point. This means that the operational costs of these stations are covered by the income generated at these stations.
- In early December, Fastned raised € 12.3 million in just 10 days via a public bond issue.
- Fastned was the first company in the world to introduce Autocharge, enabling customers to charge their electric vehicle automatically after plugging in without the need for a charging card.
Please note that the numbers above are unaudited. Audited annual figures will be published in March 2018.
Notes for editors (not for publication):
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Fastned is building a European network of fast-charging stations where all electric cars can charge within 20 minutes. The stations are located at high traffic locations along the highways and in cities. This will give electric cars the freedom to drive across Europe. As of today, Fastned has 73 stations operational in The Netherlands and is working on expanding its fast charging network to the rest of Europe. Fastned is preparing the construction of fast charging stations in Germany, The United Kingdom and Belgium. Fastned is listed on the Nxchange stock exchange.
Fastned is rolling out its network of fast charging stations in response to the rapidly increasing numbers of EVs in Europe. Car manufacturers are investing billions of Euros in the development of, and production capacity for EVs. More and more EVs are hitting the roads, which drives the need for charging infrastructure. Fastned is responding to this development by building the service stations of the future. Co-founder and CEO Michiel Langezaal: “We are the Shell of the future, only our energy comes from the sun and the wind.”
For more information go to www.fastnedcharging.com.