Fastned grows 140% in first quarter
Rapid growth of revenues compared to the same quarter of last year
Amsterdam, 10 April 2018.
In a year-on-year comparison with Q1 2017, Fastned’s volume, revenue and number of customers again showed strong growth in Q1 2018:
- Volume: 483,487 kWh (+148%)
- Revenue: € 210,962 (+140%)
- Customers: 8,303 (+136%)
- Fastned opened 3 new stations based on a new modular design, bringing the total up to 66 stations that were operational at the end of the quarter. Additionally, construction was started of a new batch of 12 stations in the Netherlands, and preparations for the first 18 stations in Germany are now in full swing.
- Fastned installed next generation fast chargers at four stations, allowing electric vehicles to charge up to 175 kW and even 350 kW; up to 100 times faster than at home.
- During the first quarter 30% of all Fastned stations have passed the operational break-even point. This means that all operational costs associated with these stations are covered with revenues generated at those same stations.
- Fastned lost a court case in which we raised the question if the State is allowed to give out permits for the placement of charging poles at service areas to petrol stations that didn’t participate in the public tender procedure for charging stations at service areas along national highways in 2011. Fastned has filed an appeal to this ruling.
- Fastned has signed an agreement with the real estate company of Albert Heijn to start a pilot with fast chargers at three of their supermarkets. In case the pilot proves successful for both parties, there is an intention to quickly expand the number of locations.
- Fastned has started a funding round to raise € 30 million of new capital via a private placement, assisted by investment bank Lincoln International. The goal of this new capital raise is to build 80 to 100 new fast charging stations, which would allow the network to grow to around 200 stations in four countries. As such, it is an important step in our ambition to develop a fast charging network with 1000 charging stations throughout Europe.
Note: figures presented in this quarterly update have not been audited
Notes for editors (not for publication):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 63 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 such as Tesla, Audi, Volvo, Aston Martin, BMW, Nissan, Mitsubishi, Porsche, Volkswagen, Mercedes, Ford, General Motors, Renault and other 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.