Celebrate King's Day with TNW 🎟 Use code GEZELLIG40 on your Business, Investor and Startup passes today! This offer ends on April 29 →

This article was published on February 21, 2024

Dutch EV charging startup raises €27.5M to grow European network

Fastned provides fast charging stations using renewable energy


Dutch EV charging startup raises €27.5M to grow European network

Amsterdam-based Fastned has raised more than €24mn in new bonds to grow its fast-charging network across Europe. Investors have also extended €3.5mn from earlier bonds, bringing the total funding to over €27.5mn.

Founded in 2012, the startup provides over 280 fast charging stations across several European countries, including the Netherlands, Belgium, Germany, and France. In January last year, it announced an expansion to Spain as well.

Drivers can add up to 300km of range in about 15 minutes, depending on the EV type. Notably, Fastned provides electricity using renewable energy from solar and wind power.

Fastned offers both a subscription and pay-on-the-go service. In the Netherlands, paying on the go costs €0.69 per kWh — on the lower end of fast-charging pricing, which varies between €0.65 and €0.90.

“Accelerating the building pace of infrastructure for electric mobility is crucial given the expected exponential growth of the number of electric vehicles in the coming years,” said co-founder and CEO Michiel Langezaal.

The environmental imperative to switch to electric mobility provides a beneficial opportunity for companies operating in the EV charging space, as adequate charging infrastructure is key to enabling the EU’s ban on petrol and diesel vehicles in 2035.

In the meantime, the number of electric cars on the road is increasing. In 2023, EV registrations in Europe exceeded 2 million units for the first time in a single year.

One of the themes of this year’s TNW Conference is Sustainable Futures. If you want to dive into the ethics, diversity, sustainability, and social impacts of tech — or simply experience the event (and say hi to our editorial team) — we’ve got something special for our loyal readers. Use the code TNWXMEDIA at checkout to get 30% off your business pass, investor pass or startup packages (Bootstrap & Scaleup).

Get the TNW newsletter

Get the most important tech news in your inbox each week.

Also tagged with


Published
Back to top