Exponential Growth of Fastned Continues

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Fastned

28 Jul, 2016, 10:00 GMT

AMSTERDAM, July 28, 2016 /PRNewswire/ --

Dutch company that is rolling out a European fast-charging network publishes half year results

Highlights of the first half year:

  1. 368% volume growth compared to the first half of 2015
  2. 256% revenue growth compared to the first half of 2015 (difference between volume and revenues growth is mostly due to the introduction of free charging)
  3. 7% month-to-month growth of the number of customers during the last 6 months
  4. Successful issue of EUR 3.07 million worth of certificates of shares via the Nxchange stock exchange
  5. Deal with Nissan extended from 2 years to 4 years of free charging at Fastned
  6. All 50 stations are equipped with Tesla adapters
  7. Initiated a cooperation with the Dutch Railroad company NS for urban locations in Amsterdam, Rotterdam and The Hague
  8. Connected the charge cards of the The New Motion, EV-Box and ANWB to the Fastned app
  9. Continued uptime of the stations at 99.99%

Michiel Langezaal, CEO Fastned: "We look back at a half year in which we continued exponential growth of our revenues, kWh (volume) delivered, and the number of registered customers. In the first half of 2016 revenues grew at an average rate of 10% per month, volume grew at an average rate of 11% per month, and the number of registered customers grew at an average rate of 7% per month. Because no new stations were added during this half year, growth was entirely driven by more customers, who charge more often and longer at the existing stations. This autonomous growth proves our relevance to EV drivers based on network coverage (50 stations operational), extremely reliable service (99.99% uptime per station) and transparent, attractive pricing. We also connected the charge cards of providers such as The New Motion and EV-Box to the Fastned app. Finally, we have effectively doubled our market by installing Tesla adapters at all our stations. Where Teslas could previously charge at 11kW to 22kW, they can now charge 50kW at Fastned. Because of this, we see the number of Teslas at our stations increase significantly."

Note for the editor: 

Click here to download the press release, images and the pdf of the first half year report 2016.

Background information Fastned:  

Fastned is building the world's first network of fast-charging stations where all electric cars can charge. We are building stations at high traffic locations along the highway and in cities, where electric cars can charge in 20 minutes. This will provide freedom for electric cars to drive everywhere throughout Europe. Today, Fastned operates 51 fast charging stations in The Netherlands and is working on expanding its network to the rest of Europe. Fastned is listed on the Nxchange stock exchange. http://www.fastned.nl/en.

Fastned is rolling out its network of fast charging stations in response to the rapidly increasing numbers of EV's in Europe. Car manufacturers such as Tesla, Audi, Volvo, Aston Martin, BMW, Nissan, Mitsubishi, Porsche, Volkswagen, Mercedes, Ford, General Motors and Renault are investing billions of Euros in the development of, and production capacity for EV's. More and more EV's are hitting our roads, which drives the need for charging infrastructure. Fastned is responding to this development by building the service stations of the future. Co-founder and CEO Michiel Langezaal: "We are the Shell of the future, only our energy comes from the sun and the wind."