New player FastWay wants to tackle Italy’s EV infrastructure
FastWay is an Italian startup with €50 million backing to install fast-charging infrastructure in Italy. They plan to install 15,000 charge points, delivering between 150 kW and 400 kW throughout the country in the next ten years.
FastWay says it will build on public and private lands and mentions collaborating with municipalities; however, without providing more information.
The Infrastructure Fund for ESG Growth (IPC), established and managed by Azimut Libera Impresa Sg, is the leading investor and backs FastWay with €50 million. However, given that there appears to be no business or network, the money won’t get them very far.
Apart from the ambitions, the announcement only contains additional information on the co-founders, Paolo Esposto and Carlo Mereu. The two managers are said to have “many years of experience in the energy and electric mobility sector” and will act as managing directors. There is also CFO Serafino Marchio.
As for the work to be done on the ground and the backend, FastWay remains vague. The company claims it would build and manage the charging stations entirely at their own expense, “thanks to the solidity and long-term vision of the investors, thus allowing its partners, whether public bodies or private companies, to free themselves from operating costs and business risks”. The startup guarantees a sales representative (unnamed) who will have to obtain permits and take care of 24/7 maintenance and customer support.
Andrea Cornetti, CEO of Real Estate and Infrastructures of Azimut Libera Impresa Sgr, said they had decided to invest in the Fastway project “because it will operate in an exponentially growing sector such as that of electric mobility and zero emissions which is an important and irreversible trend.”
A trend, however, that has significant players involved in Italy. Energy supplier Enel is very active in the field of charging infrastructure through its subsidiary Enel X; energy group Eni also wants to build 31,000 charging points by 2030. Through the startup Free to X, founded in March 2021, the Autostrade per l’Italia Group intends to work on HPC infrastructure along Italian motorways. In addition, the car company Stellantis also wants to focus on Italy with its DC charging network Atlante.
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