Fastned Raises €7.7 Million Via Public Issue Of Bonds, Oversubscribed By Factor Of Two
The Netherlands-based electric vehicle fast-charging station network firm Fastned, which we cover quite a bit here at CleanTechnica, has raised €7.7 million in just the last two weeks via the public issue of bonds, according to an email sent to CleanTechnica.
This is doubly impressive since the original issue was apparently limited to €3.3 million. Due to demand being so high, the board of directors extended the bond issue. So, in the end, the initial bond issue was oversubscribed more than two times over, essentially. More than 600 investors took part in the process, according to Fastned.
The email provides some further details: “The proceeds of this issue will be used to further expand the network of fast-charging stations in the Netherlands and in the rest of Europe. Subscriptions to the issue was possible from Tuesday, May 23, 07:30hrs to Tuesday, June 6, 16:00hrs. The bonds pay out 6% interest per annum and have a maturity of 5 years. The interest is paid quarterly in arrears.”
One of the cofounders of Fastned, Bart Lubbers, commented: “In every investment round, we see more and more people who invest bigger and bigger sums of money to support the sustainable mission of Fastned. These investors show true leadership in the required energy transition as set out in the Paris Climate Agreement. Together we build the green service stations of the future.”
In related news, as we just reported, Fastned has entered into an agreement with a popular hotel chain that operates in the Netherlands and in Belgium to develop electric vehicle fast-charging stations at some locations. This represents a change of focus by Fastned, which previously been focused around station development along major travel routes.
Also noteworthy here is that the company recently won contracts for fast-charging station development in London (the UK) and Germany.
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