Fastned, the European company specialized in fast charging for electric vehicles, today launched a new bond issue to finance further expansion of its network.
The company wants to use the raised funds to expand its charging stations, both in existing markets and in new European countries. All this is made possible by favorable European regulations, which stimulate the transition to electric driving and create new opportunities for companies such as Fastned. The ambition is clear: a pan-European network of fast charging stations to support the growing demand for electric mobility.
Founded in 2012, Fastned has been a pioneer in the development of charging infrastructure in Europe since its inception. The company has an iconic network of fast charging stations, recognizable by their distinctive yellow roofs, offering electric vehicle drivers a fast and reliable way to charge their battery on the go. The rapid growth of the network makes Fastned one of the major players in the European charging market, with stations in the Netherlands, Germany, the United Kingdom, Belgium, Switzerland and France.
Despite its success, Fastned is also facing legal obstacles in the Netherlands. One of the biggest challenges comes from the competition for charging stations at rest areas along highways. Fastned believes that the government is not consistently applying the rules regarding the issuing of permits for charging stations. The company states that there is a need for more fast chargers at rest areas, but on the basis of fair rules. In a written response Fastned emphasized to De Telegraaf that it is committed to a level playing field: “If that does not happen, we will use the option to object or appeal.”
With the support of European legislation and a growing network of fast charging stations, the company aims to further strengthen its position in the market and contribute to a greener future for the European transport sector.
The issue is further complicated by resistance from petrol station owners, who often appeal when Fastned submits plans to install additional charging stations or wants to add a store to a charging station. Petrol station operators see Fastned as a threat to their market share and use legal means to delay the expansion of charging stations. This creates conflicts between the old world of fossil fuels and the new, sustainable mobility.
moratorium
The conflict took on a new dimension when judges recently annulled several permits for charging stations that were granted last year. These decisions are the result of a moratorium on electrification of rest areas, introduced by the Ministry of Infrastructure. The moratorium is intended to prevent companies such as Fastned from ‘anticipating’ new legislation by applying for permits en masse, in the hope of gaining a privileged position as soon as the regulations change. However, the result is that permits for new charging stations are revoked in the long term and that already installed poles are sometimes literally dug up and removed.
The ministry states that the new rules, which will come into effect soon, should ensure a fairer distribution of available charging stations. However, the delay in the rollout of charging stations is causing frustration for companies such as Fastned, which are ready to invest in new infrastructure. This also hinders the growth of the number of charging points along Dutch highways, which is a problem for the increasing number of electric vehicle drivers who depend on these fast chargers.
Another challenge that operators face is the environmental regulation of rest areas. Recently, several charging stations had to be removed after a court ruling that a small patch of grass at the rest area had been damaged. This may seem like a minor issue, but in the current context of strict regulations and resistance to new developments, even such minor issues can have major consequences for the rollout of electric charging infrastructure.
