Fastned’s Revenues Doubled Over The Last Year

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Fastned, a Netherlands-based EV fast charging firm, has seen its volume and revenue more than double over the last year, going by the most recent data released by the company.

More specifically, Fastned’s business volume has surged 125%, to 398,653 kilowatt-hours (kWh) worth of charging, over the last year (comparing the first half of 2017 to the first half of 2016).

With regard to revenues — and again comparing the data from the first half of 2017 to data from the first half of 2016 — they surged to €186,829. That figure represents a roughly 119% year-on-year increase.

The number of active Fastned customers also grew considerably — to 3,967 customers, a roughly 64% increase.

Here are a number of other interesting stats, as listed in an email sent to CleanTechnica and also published on the Fastned website:

  • Fastned growth significantly outpaced the market (47.8% more full EVs in the Netherlands in H1 2017 vs. H1 2016)
  • Fastned became a founding member of the “Open Fast Charging Alliance”
  • In March the first two fast charging stations of Fastned in The Netherlands passed the operational break-even point
  • 6 new stations were built, bringing the total number of stations in the Netherlands to 63
  • The company’s first 14 German locations were acquired
  • Fastned signed a framework agreement with Transport for London to realise rapid charging stations in the Greater London Area
  • A partnership was signed with Van der Valk to develop charging stations in the Netherlands and in Belgium
  • In June Fastned raised €7.7 million via a public issue of bonds
  • In June Fastned raised €1 million of additional capital through the issue of certificates of shares to investment fund Ballotta B.V.
  • Investor Breesaap converted its entire loan of €10.3 million into certificates of shares at a price of €10 per certificate
  • Investor Flowfund extended its convertible loan of €2.5 million by two years to the end of 2020

That email also included a quote from the CEO of Fastned, Michiel Langezaal, that’s probably worth printing here:

“We look back at a first half year with continuing growth of revenues, kWhs delivered, and number of customers. Deliveries of new EVs in the Netherlands for the first part of the year were somewhat lower than expected but still amounted to 48% growth compared to H1 2016. There are now waiting lists for EVs such as the Opel Ampera-e and the Hyundai Ioniq EV. We expect a strong take-off of EVs once the ‘second generation EVs’ with longer range becomes readily available in Europe. European deliveries of these cars, such as the Tesla Model 3 and Nissan Leaf II are announced for the beginning of 2018. Based on these developments and anticipated demand for fast charging services we invested a lot of time and resources during the first half year on our expansion to London, Germany, and Belgium. We believe that developing a portfolio of high quality locations across Europe will prove to be a very valuable asset once the EV revolution really takes off.”

Fastned has seemingly positioned itself quite well. There’s not really anyone out there doing what Fastned is doing with regard to the scale of operations, the charging speeds, and the expansion plans.

Check out plenty more Fastned stories here on CleanTechnica to dig deeper. For example, see:

  1. Fastned Now Open To Teslas
  2. A Fast-Charging Revolution Is Underway In The Netherlands
  3. Fastned Launches Charging Station Trip Planner
  4. 5 European EV Fast-Charging Networks Partner For Open Fast Charging Alliance

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James Ayre

James Ayre's background is predominantly in geopolitics and history, but he has an obsessive interest in pretty much everything. After an early life spent in the Imperial Free City of Dortmund, James followed the river Ruhr to Cofbuokheim, where he attended the University of Astnide. And where he also briefly considered entering the coal mining business. He currently writes for a living, on a broad variety of subjects, ranging from science, to politics, to military history, to renewable energy.

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