Fastned

FastnedFile:Fastned new logo.png

Type| Besloten vennootschap

Traded as

* Euronext: FAST
* Nxchange: FAST

ISIN|

* [https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language;=en∈=NL0013654809+NL0013654809]
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* [https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language;=en∈=NL0013654809+NL0013654809]
* [https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language;=en∈=NL0010732244+NL0010732244]

* [https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language;=en∈=NL0013654809+NL0013654809]
* [https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language;=en∈=NL0010732244+NL0010732244]

*     * [https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language;=en∈=NL0013654809+NL0013654809]
* [https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language;=en∈=NL0010732244+NL0010732244]

">[https://handwiki.org/wiki/index.php?title=Toollabs:isin/&language=en&isin=NL0013654809 NL0013654809
* NL0010732244

Industry| EV charging
Founded| February 2012; 14 years ago (2012-02)
Founder|

* Michiel Langezaal
* Bart Lubbers

Headquarters|

Amsterdam

Netherlands

Number of locations

* 208 stations
* 6 offices

(2021)

Areas served

* Netherlands
* Germany
* United Kingdom
* Belgium
* France
* Switzerland
* Denmark

Key people

* Michiel Langezaal (CEO)
* Victor van Dijk (CFO)

Revenue|  €60.5 million (2023)

Operating income

|  −€12.1 million (2023)

Net income

|  −€19.25 million (2023)
Total assets|  €357 million (2023)
Total equity|  €146 million (2023)
Owner|

* Bart Lubbers (37%)
* Michiel Langezaal (21.5%)
* Breesaap (5.9%)
* Schroder Capital 10.6%

Number of employees

| 222 (End of Year 2023)
Website| fastnedcharging.com
Footnotes / references
[1][2][3][4]

Fastned is a Dutch company that owns and operates a growing fast charging network of 297 stations with 1,714 EV charging stations in the Netherlands, France, Germany, the United Kingdom, Belgium, Denmark, Italy, Spain and Switzerland. A large majority of its stations are located at Dutch highway rest areas. Fastned was founded in 2012.

The company, a besloten vennootschap, is listed on Euronext Amsterdam and Nxchange. As of 2023, 25% of the company can be traded, while the remaining shares are owned by co-founders Bart Lubbers (37%) and Michiel Langezaal (21.5%), and by investment firms Breesaap (5.9%) and Schroders Capital (10.6%).[3][5][6] Fastned's headquarters are located in Amsterdam, and its CEO is Michiel Langezaal.[1]

## Contents

* 1 History
* 1.1 Fundraising and first stations
* 1.2 Further expansion
* 2 Network
* 3 Finances
* 4 Lawsuits
* 4.1 Initial permit
* 4.2 Amenities at charging stations
* 4.3 Royal Dutch Shell
* 5 References
* 6 External links

## History

File:Fastned logo 01.jpgFormer Fastned logo (until 2019)

### Fundraising and first stations

Fastned B.V. was founded in February 2012 by Michiel Langezaal and Bart Lubbers, the son of former Prime Minister Ruud Lubbers.[2][7] The company received a permit that same year to build and operate charging stations at 201 rest areas in the Netherlands for a period of fifteen years.[8] The first four locations opened in November 2013, the first of which was located at rest area Palmpol in Terschuur, Gelderland.[9][10]

Building a single charging station required about €200,000.[11] That money came from a number of funds owned by wealthy families, one of which was the Lubbers family fund called "Breesaap", that loaned €10 million.[7][12] That loan was later converted to shares.[13] Besides, the company started issuing stock certificates on NPEX, a stock exchange aimed at SMEs, in July 2014, raising €3.2 million in one and a half years.[14][15]

The fiftieth charging station near Goes was opened by former Prime Minister Jan Peter Balkenende in January 2016.[16] Due to the low proportion of electric vehicles in the Netherlands at the time, most charging stations were used between two and four times per day according to Fastned.[17] In April, Fastned became the first company to be listed on Nxchange when it raised €3 million in five weeks through the issue of stock certificates.[18] The company also issued bonds with a total face value of €22 million in 2016 and 2017.[19][20][21]

### Further expansion

In 2018, the usage of Fastned's charging stations had slowly increased to an average of five to six customers daily. According to Langezaal, nearly one third of the stations were breaking even, having between 15 and 20 customers per day.[7] The company's first foreign charging station was opened in June 2018 close to Limburg an der Lahn in Germany.[22] Fastned also started constructing some smaller locations at Albert Heijn supermarkets and reached the mark of 100 charging stations in June 2019.[23][24]

The company started being listed on Euronext Amsterdam on 21 June 2019, one week later than planned, making it possible for investors to convert their Nxchange stock certificates to Euronext certificates.[25] The price rose from €11 to €53 on its first day, but returned to a price slightly above the initial price in the following days.[26] Fastned had also planned an IPO that day in order to raise between €27 million and €30 million by issuing at most three million stock certificates. However, it was blown off the day before.[27] Co-founder Bart Lubbers had left the management board one month earlier to become chairman of the supervisory board.[28]

During the COVID-19 pandemic in 2020, Fastned experienced negative effects; its sales declined by 70% from February to March.[29]

## Network

New design charging station at rest area De Wâlden along the A7 motorway

As of March 2024, Fastned's network consists of 308 EV charging stations, of which 173 are located in the Netherlands. The lion's share of Dutch charging stations are located at highway rest areas. Three are located at Albert Heijn supermarkets, and some more are situated in cities. The charging stations outside the Netherlands are in Germany (19), the United Kingdom (6), Belgium (2), and Switzerland (2). Four German locations are at hotels of Van der Valk, while the remaining are close to highways. The first British location was in Sunderland, and the company has won a tender to expand to London.[1][30][31] In Switzerland, Fastned had won a tender to build twenty charging stations.[32] Fastned's stations were used a total of 194,000 times during the last quarter of 2020 by 53,000 different customers.[1] The company has plans to expand to France.[28]

The earlier charging stations are characterized by two yellow arches with a curved roof, consisting of solar panels, in between.[16] The company introduced a new station design in 2016 with a higher roof in order to accommodate electric trucks. Additionally, it is better suited to increases in the number of individual charging points at a station.[7] The roof is still composed of solar panels, but they are see-through in the new design.[33] The design is inspired by bolts of lightning.

Fastned allows roaming access to their network for third party apps and access cards. Current partners include Gireve,[34] Q8 in Belgium,[35] Paua in the UK[36] and Greenflux across Europe.[37]

Operational stations in different countries[38] Country  | 2019  | 2020  | 2021  | 2022  | 2023

|
|
|
|
|

Netherlands  | 98  | 105  | 132  | 151  | 168
Germany  | 15  | 19  | 31  | 37  | 39
United Kingdom  | 1  | 6  | 8  | 12  | 20
Belgium  |  | 2  | 9  | 18  | 24
Switzerland  |  | 2  | 2  | 3  | 7
France  |  |  | 6  | 23  | 38
Denmark  |  |  |  |  | 1

## Finances

Fastned's revenue had been close to zero during its initial years due to a low number of customers. In recent years, it has increased to €36 million (2022). The company has never turned a profit due to its continuing expansion.

Year[39] | Revenue
in mil. EUR  | Net income
in mil. EUR  | Total assets
in mil. EUR  | Employees on
average, FTE  | Number of
charging stations  | Electricity delivered
in GWh

|
|
|
|
|
|

2012  | 0.00  | –0.3  | 0.2  | 2  | 0  | 0
2013  | 0.00  | –0.8  | 3.0  | 14  | 5  | 0.002
2014  | 0.01  | –2.2  | 7.6  | 19  | 19  | 0.038
2015  | 0.1  | –4.0  | 16.7  | 24  | 50  | 0.129
2016  | 0.3  | –5.1  | 18.6  | 21  | 57  | 0.460
2017  | 0.6  | –5.0  | 33.0  | 24  | 63  | 1.006
2018  | 1.6  | –6.5  | 40.7  | 40  | 85  | 2.903
2019  | 6.4  | –12.0  | 57.6  | 47  | 114  | 7.969
2020  | 6.9  | –12.4  | 80.3  | 54  | 131  | 11.044
2021  | 12.4  | –24.6  | 214.6  | 76  | 188  | 20.9
2022  | 36  | –22.2  | 315.2  | 114  | 244  | 51.9
2023  | 60.5  | –19.2  | 357.5  | 204  | 297  | 99.6

## Lawsuits

Fastned has been involved in a number of lawsuits concerning permits to operate at rest areas.

### Initial permit

A number of gas station operators sued the Dutch government in 2013 after Fastned had received its permit to operate charging stations at rest areas. They claimed Fastned should not have been given the permit, as existent gas stations at rest areas had been given the exclusive right to sell fuel at those places. A judge upheld Fastned's permit in July 2013 stating that the agreement between the government and the gas stations only concerns fossil fuels.[40]

### Amenities at charging stations

When Fastned wanted to add toilets and convenience stores at some of their locations, Rijkswaterstaat, the owner of the land of rest areas, did not grant the necessary permits. The government agency considered it inappropriate and unsafe to have some amenities twice at a single rest area.[41] Fastned subsequently went to court in 2017 and won the case, as the judge found that Rijkswaterstaat provided insufficient support for its claim.[42] Rijkswaterstaat appealed the decision, but lost again in 2019 at the Council of State, forcing the agency to grant a permit or to come up with better reasons for another denial.[43]

### Royal Dutch Shell

After Royal Dutch Shell announced in 2017 it would place charging stations at some of its locations, Fastned filed a number of lawsuits trying to prevent this in December. Some of those charging stations were to be located at rest areas already having a Fastned location.[44] Fastned did not manage to prevent the placement through the cases, in which it raised safety concerns and argued Shell could not sell electricity with its permit to sell fuel.[42][44]

## References

1. ↑ 1.0 1.1 1.2 1.3 "Annual Report 2020". March 31, 2021. https://presspage-production-content.s3.amazonaws.com/uploads/2519/2020annualreportlr.pdf?10000.
2. ↑ 2.0 2.1 "Fastned BV" (in Dutch). https://drimble.nl/bedrijf/amsterdam/24353671/fastned-bv.html.
3. ↑ 3.0 3.1 Braaksma, Jan; Brinker, Gijs den (April 23, 2019). "Fastned heeft tientallen miljoenen per jaar nodig van beleggers" (in Dutch). https://fd.nl/beurs/1297652/fastned-heeft-tientallen-miljoenen-per-jaar-nodig-van-beleggers.
4. ↑ "Anual Report 2023". https://www.fastnedcharging.com/media/dysh0il1/fastned-2023-annual-report.pdf.
5. ↑ Dobber, Joost (June 26, 2019). "Euronext heeft geleerd van de beursgang van Fastned" (in Dutch). https://fd.nl/beurs/1306379/euronext-zou-een-beursgang-als-fastned-niet-opnieuw-zo-doen.
6. ↑ "Fastned announces a 75 million euro strategic investment from Schroders Capital that will accelerate Fastned's future growth". https://www.fastnedcharging.com/hq/en/fastned-announces-a-75-million-euro-strategic-investment-from-schroders-capital-that-will-accelerate-fastneds-future-growth.
7. ↑ 7.0 7.1 7.2 7.3 Voermans, Ton (April 12, 2018). "Laadpaal-oorlog om de elektrische rijders is ontbrand" (in Dutch). https://www.ad.nl/binnenland/laadpaal-oorlog-om-de-elektrische-rijders-is-ontbrand~a6a40b61/.
8. ↑ Bremmer, David (January 24, 2018). "Laadpalenoorlog ontbrandt langs Nederlandse snelwegen" (in Dutch). https://www.ad.nl/economie/laadpalenoorlog-ontbrandt-langs-nederlandse-snelwegen~a922eec9/.
9. ↑ "Annual report 2013". March 21, 2014. https://presspage-production-content.s3.amazonaws.com/uploads/2519/fastned-annual-report-2013-1-378490.pdf.
10. ↑ Pit, Henrico (November 27, 2013). "Eerste snellaadstation langs de snelweg" (in Dutch). https://www.omroepgelderland.nl/nieuws/2043979/Eerste-snellaadstation-langs-de-snelweg.
11. ↑ Koot, Jeroen (May 19, 2015). "Fastned biedt investeerders gratis opladen auto" (in Dutch). https://fd.nl/ondernemen/1104348/fastned-biedt-investeerders-gratis-opladen-auto.
12. ↑ "Laadpaalexploitant Fastned trekt geld aan om kosten tot 2019 te dekken" (in Dutch). January 11, 2016. https://fd.nl/Print/krant/Rubriek/Snelbaan/1134630/laadpaalexploitant-fastned-trekt-geld-aan-om-kosten-tot-2019-te-dekken.
13. ↑ "Investeerder in Fastned zet lening om in aandelen" (in Dutch). June 29, 2017. https://fd.nl/ondernemen/1208323/investeerder-in-fastned-zet-lening-om-in-aandelen.
14. ↑ Smit, Mathijs (May 21, 2015). "Verkoop certificaten Fastned valt tegen" (in Dutch). https://www.rtlnieuws.nl/geld-en-werk/artikel/679391/verkoop-certificaten-fastned-valt-tegen.
15. ↑ Smit, Mathijs (March 15, 2016). "Verkoop certificaten Fastned blijft tegenvallen" (in Dutch). https://www.rtlnieuws.nl/geld-en-werk/artikel/65496/verkoop-certificaten-fastned-blijft-tegenvallen.
16. ↑ 16.0 16.1 "Balkenende opent bij Goes het vijftigste Fastnedstation" (in Dutch). January 20, 2016. https://www.ad.nl/zeeland/balkenende-opent-bij-goes-het-vijftigste-fastnedstation~a40c9062/.
17. ↑ Voermans, Ton (February 6, 2016). "De stress van de elektrische auto: haal ik de laadpaal?" (in Dutch). https://www.ad.nl/auto/de-stress-van-de-elektrische-auto-haal-ik-de-laadpaal~a5db39e3/.
18. ↑ Grol, Carel (May 23, 2016). "Fastned haalt € 3 mln op met emissie alternatieve beurs" (in Dutch). https://fd.nl/beurs/1152749/fastned-haalt-3-mln-op-met-emissie-op-alternatieve-beurs.
19. ↑ "Fastned trekt weer vers kapitaal aan voor snellaadstations" (in Dutch). December 5, 2016. https://fd.nl/ondernemen/1178340/fastned-trekt-weer-vers-kapitaal-aan-voor-snellaadstations.
20. ↑ "Fastned haalt € 7,7 mln op met vijfjaarslening" (in Dutch). June 7, 2017. https://fd.nl/ondernemen/1205027/fastned-haalt-7-7-mln-op-met-vijfjaarslening.
21. ↑ Rodenburg, Sjors (December 7, 2017). "Fastned haalt 12 miljoen op voor uitbreiding snellaadnetwerk" (in Dutch). https://www.rtlnieuws.nl/economie/business/artikel/3758651/fastned-haalt-12-miljoen-op-voor-uitbreiding-snellaadnetwerk.
22. ↑ Kouwenhoven, Erik (June 23, 2018). "Fastned opent eerste snellaadstation in Duitsland" (in Dutch). https://www.ad.nl/auto/fastned-opent-eerste-snellaadstation-in-duitsland~a6e21e29/.
23. ↑ Harthoorn, Jasper (December 6, 2018). "Snellaadstation bij Albert Heijn XL in Tilburg officieel geopend" (in Dutch). https://www.ad.nl/tilburg/snellaadstation-bij-albert-heijn-xl-in-tilburg-officieel-geopend~af6e576e/.
24. ↑ "Fastned opent honderdste snellaadstation" (in Dutch). June 13, 2019. https://www.telegraaf.nl/financieel/791417275/fastned-opent-honderdste-snellaadstation.
25. ↑ "Fastned wil 30 miljoen ophalen met beursgang" (in Dutch). June 12, 2019. https://www.rtlnieuws.nl/economie/beurs/artikel/4744181/fasted-beurs-euronext-aex-beursgang.
26. ↑ Groot, Natasja de (June 24, 2019). "Beleggersclub zet vraagtekens bij koersexplosie Fastned" (in Dutch). https://www.ad.nl/economie/beleggersclub-zet-vraagtekens-bij-koersexplosie-fastned~aea48093/.
27. ↑ "Fastned blaast ophalen nieuw kapitaal af" (in Dutch). June 20, 2019. https://fd.nl/beurs/1305629/fastned-wel-naar-de-beurs-maar-blaast-ophalen-nieuw-kapitaal-af.
28. ↑ 28.0 28.1 "Annual Report 2019". March 31, 2020. https://presspage-production-content.s3.amazonaws.com/uploads/2519/annual-report-fastned-2019.pdf.
29. ↑ "Fastned ziet stroomafzet met 70% afnemen door coronacrisis" (in Dutch). March 31, 2020. https://fd.nl/ondernemen/1339901/fastned-ziet-stroomafzet-70-afnemen-door-coronacrisis.
30. ↑ "Locations". https://fastnedcharging.com/en/locations.
31. ↑ Vaughan, Adam (April 26, 2017). "TfL to spend £18m on preparing London for new electric black cabs". https://www.theguardian.com/uk-news/2017/apr/26/electric-black-cabs-transport-for-london-tfl-charging-stations.
32. ↑ Bremmer, David; Voermans, Ton (June 12, 2019). "Veel potentie, nog nooit winst: durven beleggers in Fastned te stappen?" (in Dutch). https://www.ad.nl/economie/veel-potentie-nog-nooit-winst-durven-beleggers-in-fastned-te-stappen~a5059447/.
33. ↑ Bas, John (April 8, 2019). "Deze 'paraplu's' komen langs de A58" (in Dutch). https://www.ad.nl/etten-leur/deze-paraplu-s-komen-langs-de-a58~a9fddf06/.
34. ↑ "Discover Fastned's offer on Gireve's roaming platform.". 2023-10-23. https://www.gireve.com/fastned-gireve-partnership-european-ev-charging/.
35. ↑ "Q8 plugs into Fastned". 2023-11-05. https://www.q8.be/nl/en-partnerships-electric.
36. ↑ "Paua electric fuel card Partners Fastned on World EV day 2021". 2021-07-09. https://www.pauatech.com/news/55135222250.
37. ↑ "Feel the freedom of our network". 2023-11-05. https://www.greenflux.com/roaming/.
38. ↑ "Financial reports" (in en). https://www.fastnedcharging.com/en/for-business/investor-relations/financial-reports.
39. ↑ "Financial Reports & Presentations". https://fastnedcharging.com/hq/reports-presentations/.
40. ↑ "Pomphouders verliezen zaak over laadpalen elektrische auto's" (in Dutch). July 25, 2013. https://www.ad.nl/binnenland/pomphouders-verliezen-zaak-over-laadpalen-elektrische-auto-s~abeb5dec/.
41. ↑ Ommen, Jan van (September 5, 2018). "Rijkswaterstaat wil geen kiosk en wc's bij snellaadstation Velder" (in Dutch). https://www.ad.nl/boxtel/rijkswaterstaat-wil-geen-kiosk-en-wc-s-bij-snellaadstation-velder~a773c145/.
42. ↑ 42.0 42.1 "Fastned sleept staat voor de rechter om laadstations Shell" (in Dutch). December 3, 2017. https://www.ad.nl/economie/fastned-sleept-staat-voor-de-rechter-om-laadstations-shell~aebcc91a/.
43. ↑ "Rijkswaterstaat weigerde onterecht vergunning voor toilet bij Fastned" (in Dutch). January 23, 2019. https://www.rtlz.nl/beurs/bedrijven/artikel/4584641/rijkswaterstaat-weigerde-onterecht-vergunning-voor-toilet-bij.
44. ↑ 44.0 44.1 Peet, Annick van der (December 28, 2017). "Fastned vangt weer bot bij rechter in laadstationzaak tegen Shell" (in Dutch). https://www.ad.nl/economie/fastned-vangt-weer-bot-bij-rechter-in-laadstationzaak-tegen-shell~a00404bd/.

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