Fastned Releases Impressive Half-Year Results For 2016

The Netherlands-based Fastned, a leading installer and operator of EV-fast-charging stations, saw a year-on-year volume growth rate for the first half of 2016 (as compared to the first half of 2015) of around 368%, according to an email sent to CleanTechnica and EV Obsession detailing the firm’s performance so far this year.

This impressive volume growth rate was accompanied by a revenue growth rate of 256% (the discrepancy in volume and revenue growth was the result of the introduction of “free” charging). The month-to-month growth rate for the first half of the year was 7%.

Other major achievements during the first half of 2016 included:

• the successful issuance of €3.07 million worth of certificates of shares through the new Nxchange (Next Generation Stock Exchange);
• an extension of the deal with Nissan (from 2 years to 4) to allow for free charging;
• the rollout of Tesla adapters at all 50 stations;
• an agreement with the Dutch Railroad company NS that will see urban locations developed in Amsterdam, Rotterdam, and The Hague; and
• increased charge-card compatibility (EV-Box, The New Motion, and ANWB).

The CEO of Fastned, Michiel Langezaal, commented: “We look back at a half year in which we continued exponential growth of our revenues, kWh (volume) delivered, and the number of registered customers. In the first half of 2016 revenues grew at an average rate of 10% per month, volume grew at an average rate of 11% per month, and the number of registered customers grew at an average rate of 7% per month. Because no new stations were added during this half year, growth was entirely driven by more customers, who charge more often and longer at the existing stations. This autonomous growth proves our relevance to EV drivers based on network coverage (50 stations operational), extremely reliable service (99.99% uptime per station) and transparent, attractive pricing. We also connected the charge cards of providers such as The New Motion and EV-Box to the Fastned app. Finally, we have effectively doubled our market by installing Tesla adapters at all our stations. Where Tesla’s could previously charge at 11 kW to 22 kW, they can now charge 50 kW at Fastned. Because of this, we see the number of Teslas at our stations increase significantly.”

CleanTechnica and EV Obsession director Zach Shahan visited Fastned’s headquarters in Amsterdam, the Netherlands, last year. Here are two videos from the HQ regarding this market-leading company: