Fastned intends to list on Euronext Amsterdam in the first half of 2019. The charging company, also based in the Dutch capital, aims to use the listing to secure additional funding through the issuance of new depositary receipts for shares. Although its revenues are rising steeply, the losses are piling up as well. From 2017 to 2018, the total earnings tripled to 1.6 million euros, while the net loss grew to 6.3 million.
‘Fastned is a rapidly growing fast charging company in Europe. With over five years of experience in building and operating a network of fast charging stations, we are well positioned to benefit from the accelerating transition to fully electric vehicles. Fast charging stations are key infrastructure that can scale rapidly to cater to the fast-growing demand for charging infrastructure,’ explains Fastned CEO Michiel Langezaal. ‘In light of these developments, we consider it the right time to list on Euronext Amsterdam. This listing will create additional funding flexibility and will offer more investors the possibility to invest in the megatrend towards electrification of mobility.’
Fastned listed two times before: previously on Npex and currently on Nxchange, two smaller markets. Neither listing was a very big investor magnet. The latter agreement was terminated Tuesday and will expire at the end of the six-month notice period.
Fastned started out in the Netherlands in 2012 and has the goal to build a European network of fast charging stations. In addition to its network of 80 Dutch stations, it currently has 11 operational stations in Germany and will soon open its first station in the United Kingdom. It’s acquiring and developing more locations in all of these countries as well as in Belgium, Switzerland and France. The company has 50 employees, working in Amsterdam and at its offices in Cologne, London and Ghent.