By Roy L Hales
In the five years since Fastned incorporated, they have built 59 fast charging stations through-out the Netherlands. Investors funded this expansion. Now many of these stations are generating revenue. Last week Europe’s largest EV Fast Charging Station company announced an important milestone.
Europe’s Largest EV Fast Charging Station Company Announced An Important Milestone
Fastned’s first two first charging stations now bring in sufficient revenues to pay their operational costs.
“That’s a first milestone, we are very happy to be there. It’s like you put down a station and (ask yourself) when do I have to not have to throw more money at it to keep it operational? That is where we are,” said Co-founder and CEO Michel Langezaal.
He defined the next milestone as when stations can carry its’ share of the company’s organizational costs, “basically my salary, computer and stuff like that.”
Beyond that, there is covering all the costs associated with financing the station.
Revenues Doubling Every 6-8 Months
“Last year we reported €200,000 in revenue and it is doubling every 6-8 months,” said Langezaal.
Fastned’s revenues during the first quarter of 2017 were €87,883 – roughly equivalent to the revenues for all 2015.
If the company’s revenues continue to increase at this rate, Fastned should reach the break even point, as a company, early in 2019.
Reason To Hope
That is speculation, of course, but Langezaal has reason to feel confident. As his company explained in their latest press release:
“Currently there are around 15,000 fully electric cars in The Netherlands; 40% more than a year ago. Almost half of this growth was achieved since January of this year, caused in part by favourable fiscal incentives. In March, the percentage of electric cars as part of the total number of new cars sold in the Netherlands grew to over 2%. Fastned expects that this percentage will continue to increase as more and more attractive electric car models with bigger ranges are introduced to the market.”
Top photo credit: Fastned EV Charging Station – courtesy Fastned’s website