€‎75M investment charges Fastned’s network expansion

Dutch fast-charging company Fastned is getting a boost. The Amsterdam-based EV charging expert announced it has received a 75-million-euro private placement by Schroders Capital, the private markets investment division of global asset manager Schroders. As a result, Fastned is issuing two million new depositary receipts, representing the same number of new ordinary shares in the capital of Schroders Capital, valued at €36.90, which equates to a 10.61 percent stake post-closing. Additionally, Schroders Capital will now be represented on the supervisory board of Fastned through one additional board member. With this new strategic investment, Fastned will look to accelerate the company’s growth, specifically through the expansion of its European fast-charging network.

“I’m very pleased to welcome Schroders Capital as a long-term investor to Fastned. This not only provides us with the funding to continue to roll out our network, enabling us to make the next big step towards reaching our goal of 1,000 stations before 2030,” says Fastned CEO Michiel Langezaal. “It also marks the start of a new phase with Schroders Capital’s large institutional sustainable infrastructure fund coming on board as an anchor investor, taking a long-term perspective on our business and industry, and being willing to actively support our growth plans.”