Fastned

About Fastned

Fastned B.V. develops and operates a network of over 350 fast-charging stations for electric vehicles across Europe, with a presence in the Netherlands, Germany, the United Kingdom, Belgium, France, Switzerland, Denmark, Spain, and Italy. The company was founded in February 2012 by Michiel Langezaal and Bart Lubbers with the vision to create a comprehensive charging network to accelerate the adoption of electric mobility. Langezaal, currently the CEO, was an early EV pioneer, while Lubbers brought experience in government and infrastructure. Their strategy from the outset was to secure prime real estate along highways to ensure driver convenience and network accessibility. The company's first stations opened in the Netherlands in November 2013. A significant milestone was reached in June 2019 when Fastned listed on the Euronext Amsterdam stock exchange, a move intended to increase access to capital for its ambitious growth strategy. Before this, the company had its securities listed on the smaller Nx'change, where it held its first IPO in 2014. Fastned's business model is centered on generating revenue from the sale of electricity to EV drivers on a pay-per-use basis. It also offers a "Gold Membership" subscription which provides charging at a discounted rate for a monthly fee. The company has demonstrated strong revenue growth, though it has not yet achieved profitability due to continuous investment in network expansion. Fastned's charging stations are a key part of its brand identity. They feature a distinctive design with yellow steel arches and a roof made of solar panels, intended to be a welcoming and visible landmark for drivers. The stations are equipped with ultra-rapid chargers, capable of delivering up to 400 kW, which can add up to 300 km of range in about 15 minutes, depending on the vehicle. All electricity sold is sourced from renewable energy, primarily solar and wind. The company utilizes a vertically integrated model, managing site design, construction, and operations internally to maintain service quality and consistency. Customers can initiate charging sessions through various methods, including the Fastned app, contactless payment, or third-party charging cards. The company also offers an "Autocharge" feature, which allows registered vehicles to start charging automatically upon being plugged in.