Dutch charging network operator Fastned has raised 12.3 million euros in a public bond issue. The company will use the new funding to further expand its network of fast chargers in the Netherlands, Germany and other European countries.

Fastned currently has 63 fast-charging stations operational, and a new series of stations is under construction. It recently began purchasing faster chargers with a charging power of up to 350 kW, which will be installed before the end of the year.

In 2012, Fastned acquired concessions for charging at 201 of the 245 service locations along the Dutch highways. In the past year, the company has expanded its network to Germany and Belgium, and also signed an agreement with Transport for London to deploy fast-charging stations in the UK.

“More and more people see that the future is electric and want to invest in the sustainable mission of Fastned,” said Fastned co-founder Bart Lubbers. “This is reflected in the incredible demand for our bonds. We will use the proceeds of this issue to build dozens of new stations and add chargers to existing locations. We really need to expand the number of fast-charging stations, because our growth is accelerating and queues at our stations are becoming more common.”

Source: Fastned