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German City of Kempen Expands EV Charging Network with the Help of Crowdfunding

Kempen will expand its EV charging network, adding 55 stations and five fast chargers over five years. Stadtwerke Kempen, currently operating 14 stations, is funding the project via crowdfunding through DKB-Crowd. Citizens can invest €250–€25,000 for ten years. Due to approval delays, the subscription phase starts mid-March instead of January 29.

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Kempen

There will soon be more charging stations for electric cars in the Kempen city area. The Kempen municipal utility currently operates 14 charging stations for electric cars in the city area. Two cars can charge up at each station, making 28 charging points.

As reported, according to the municipal utility, a further 55 charging stations and five fast charging stations are to be installed in the city area over the next five years.

Daniel Banzhaf, Managing Director of Stadtwerke Kempen, explained the expansion project by saying that the increasing demand has been noticeable for some time

A comprehensive supply of charging stations ensures that electric vehicles become more practical in everyday life and reduces range anxiety – this is the concern of e-car drivers of being stranded with an empty drive battery because they were unable to charge in time.

To finance the project, the municipal utilities are relying on crowdfunding: citizens should be able to participate financially in the expansion of the charging infrastructure. The project partner is DKB-Crowd, a crowdfunding platform through which projects such as citizen solar parks or wind turbines are also implemented.Paid content In December, those involved presented the project to around 80 interested parties at the municipal utility’s headquarters in Kempen and online.

The goal: to raise one million euros through special citizen participation in order to be able to expand the charging infrastructure. To do this, interested parties are to invest amounts between 250 and 25,000 euros for ten years.

The start of the subscription phase, which is initially aimed at customers of Stadtwerke Kempen and will then be opened to investors nationwide, was originally planned for Wednesday, January 29. That is not going to work. “The reason is delays in the approval process that are related to the establishment of the e-mobility company,” said a spokeswoman. The start of the subscription phase will therefore be postponed to mid-March and further information will be provided at stadtwerke-kempen.de and dkb-crowdfunding.de.

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(Featured image by CHUTTERSNAP via Unsplash)

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First published in RHEINISCHE POST. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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J. Frank Sigerson is a business and financial journalist primarily covering crypto, cannabis, crowdfunding, technology, and marketing. He also writes about the movers and shakers in the stock market, especially in biotech, healthcare, mining, and blockchain. In the past, he has shared his thoughts on IT and design, social media, pop culture, food and wine, TV, film, and music. His works have been published in Investing.com, Equities.com, Seeking Alpha, Mogul, Small Cap Network, CNN, Technology.org, among others.