Fastned Triples Revenues

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Fastned

15 Jan, 2019, 06:30 GMT

AMSTERDAM, January 15, 2019 /PRNewswire/ --

The charging company sold more electricity in the fourth quarter of 2018 than in the whole year of 2017

In the fourth quarter of 2018 Fastned's (EURONEXT: FAST) growth strongly accelerated. In the last three months of the year Fastned delivered more electricity than throughout the whole of 2017. Thanks to timely investments in grid connections and stations Fastned was well prepared for the rapid increase in the number of electric cars visiting its stations. With popular EVs like the Jaguar I-PACE and the Tesla Model 3 entering the market Fastned expects further growth in the demand for fast charging in 2019.

  • Volume: 1,142 MWh (+215% compared to Q4 2017)
  • Revenue: € 524,051 (+211% compared to Q4 2017)
  • Active customers: 17,923 (+185% compared to Q4 2017)

Q4 milestones:

  • Fastned continued to grow faster than the market. The number of EVs doubled, while Fastned's volume tripled.
  • Customers completed 30,586 charging sessions at Fastned in December.
  • Fastned raised more than 11 million euros with the issue of bonds at the end of October.
  • Fastned opened its first fast charging station at a supermarket of Albert Heijn in The Netherlands.
  • Fastned opened 6 stations in Germany last quarter. In total there are now 8 stations operational in Germany.
  • A lot of preparations have been made for the construction of a series of fast charging stations in the Netherlands, Germany and the UK in the first half of 2019.
  • Due to the increasing demand for fast-charging, Fastned has started adding additional fast chargers to its stations to expand capacity.
  • Fastned had 85 stations operational by the end of December. At 23 of these stations EVs can be charged with a maximum of 175 kW, while they are prepared for 350 kW charging. Charging at 350 kW will eventually be possible on most Fastned stations. This is up to 100 times faster than at home.

Download the Fastned Q4 results and graph here.

Please note that the numbers above are unaudited. Audited annual figures will be published in March.  

Background information about Fastned:  

Fastned is building a European network of fast-charging stations where all electric cars can charge as fast as possible with 100% renewable energy. The stations are located at high traffic locations along the highways and in cities, where EVs can charge in approximately 20 minutes. Fastned's goal is to build a European network of one thousand fast charging stations. This will give electric drivers the freedom to drive across Europe. As of today, Fastned has 85 stations operational in The Netherlands and Germany. Fastned is preparing the construction of fast charging stations in The Netherlands, Germany, The United Kingdom and Belgium. Fastned is listed on the Nxchange stock exchange.

Fastned is rolling out its network of fast charging stations in response to the rapidly increasing numbers of EVs in Europe. Car manufacturers are investing billions of Euros in the development of, and production capacity for, EVs. More and more EVs are hitting the roads, which drives the need for charging infrastructure. For more information go to http://www.fastned.nl/en