Fastned reports 140% year-on-year growth during 2018 Q1

Fastned reports 140% year-on-year growth during 2018 Q1

In a recent email sent to clean technology website CleanTechnica, plug-in electric vehicle fast-charging firm Fastned -- based in The Netherlands -- has reported that it has recorded a whopping year-on-year growth of approximately 140% in the 2018 first quarter.

According to the details shared in the email, Fastned’s volume of total fast charger usage increased to 483,487 kilowatt-hours (kWh) in the January-March 2018 quarter; thus marking a substantial 148% increase over the volume figures for the same quarter in 2017.

Moreover, Fastned’s total revenue in the 2018 first quarter increased 140% year-on-year to a notable €210,962; while the company’s customer base recorded a 136% increase year-on-year to reach a total of 8,303 customers in the reporting quarter.

Along with reporting a 140% year-on-year growth in the 2018 first quarter, Fastned also revealed in the email that the total fast charging station network number of the company reached 66 in the reporting quarter; with the latest addition of the company’s 3 newly-opened fast charger stations based around a new design.

With Fastned having efforts underway to complete 12 more fast charger stations in The Netherlands and 18 in Germany, the company said in its email that “30% of all Fastned stations have passed the operational break-even point” during the 2018 first quarter. Fastned further explained that the revenue generated by the mentioned 30% Fastned stations can cover “all operational costs” of those stations.