Fastned has raised more than EUR17m (US$20m) with the issue of bonds.

In addition, investors have extended nearly EUR4m worth of investments from earlier issues, bringing the total issued amount in this round to more than EUR21m.

All newly issued bonds will mature in November, 2025.

From 22 October to 19 November, investors were able to subscribe to the bonds with 6% interest and a maturity of five years. In addition, an offer was made to investors with bonds maturing in December, 2021, June, 2022 and December, 2022 to extend their investments by exchanging these older bonds for bonds in this new issue.

Including earlier extensions, this has reduced the repayment obligation for Fastned in 2021 and 2022 by more than EUR6.5m.

“It’s great to see so many people investing in the energy transition,” said Fastned CEO, Michiel Langezaal.

“With the proceeds from this bond issue, we can further expand the capacity of our network. Fast charging infrastructure gives freedom to electric drivers and accelerates the transition towards sustainable mobility.” 

Fastned has been developing fast charging infrastructure for electric vehicles across Europe since 2012.

Based out of Amsterdam, the company has built 129 fast charging stations in the Netherlands, Germany, the UK and Belgium. Fastned is working on expansion into France and Switzerland.