| Financing threshold: | €750,000 |
|---|---|
| Maximum issue size: | €2,000,000 |
| Invested so far: | €1,075,000 |
Proven operator - Fountain Fuel develops and operates next-generation mobility stations that combine hydrogen refueling and fast electric charging. The first station in Amersfoort is already up and running, with new sites in Rotterdam and Nijmegen under construction. This funding round will be used to upgrade the Amersfoort station.
Predictable revenues - Almost 1,100,000 kilos of hydrogen per year are already expected through contracts with transport companies, supported by the Dutch SWiM subsidy program. This creates a solid foundation for stable income and early profitability.
Returns & security - 8.5% annual interest, 66-month tenor with a 6-month grace period. Security includes a second mortgage on the Amersfoort station, as well as pledges on receivables and assets.
High growth market - By the end of 2025, Fountain Fuel aims to capture a 30% market share in Dutch hydrogen mobility, serving heavy trucks, buses, and other vehicles. The company is positioned ahead of traditional oil majors, as it operates fully independent from fossil fuels.
Positive sustainability impact - The Amersfoort station supports UN goals for clean energy and sustainable cities. By 2030, it will cut about 9,380 tonnes of CO₂ and 33.6 tonnes of nitrogen emissions (NOx, harmful diesel gases), equal to replacing 4.2 million liters of diesel.
“Our mission is simple: to make clean mobility a reality today, not tomorrow. Seeing trucks and cars refuel at our first station shows the future is here, reliable, zero-emission and within reach. With this funding we can grow faster and serve more communities.
I invite you to join us on this journey and help drive the transition to a cleaner, healthier world.”
Steef Severijn, Co-Founder & CEO, Fountain Fuel
Founded in 2020 in the Netherlands, Fountain Fuel develops and operates next-generation energy stations that combine hydrogen refuelling and fast electric charging for both passenger cars and heavy-duty transport.
The challenge is clear: reliable infrastructure for clean mobility remains insufficient. Heavy-duty trucks, buses, and logistics fleets cannot rely solely on battery-electric solutions.
Hydrogen presents a practical alternative, enabled by advanced refueling stations. Our Fountain Fuel stations, built on over a decade of technical expertise, operate independently of fossil fuel industries.
The first station in Amersfoort has been operational since 2023 with an availability of more than 98%, setting a benchmark in reliability. New stations in Rotterdam and Nijmegen are under construction.
€23.2 million in subsidy on vehicles has been secured which secures over 1,000 tons of hydrogen per year.
Fountain Fuel reaches 30% of the Dutch hydrogen mobility market by 2025. We are backed by a strong shareholder base including renewable energy company Doral. Fountain Fuel is well positioned to lead Europe’s transition to clean transport infrastructure.
| Company name: | Fountain Fuel Station Amersfoort B.V. |
|---|---|
| Founders: | Steef Severijn & Stephan Bredewold |
| Business ID number: | 77733185 |
| Founding year: | 2020 |
| Address: | De Windturbine 1-3 3815 KP Amersfoort The Netherlands |
| Industry: | Clean mobility infrastructure |
|---|---|
| Number of employees: | 7 |
| Locations: | 1 |
| Website: | https://fountainfuel.com/en/ |
| Social media: |
The heart of our operations is the hydrogen refuelling station (HRS). Built on spacious sites of at least 4,000 m², every station offers both 350 bar dispensers for buses and trucks and 700 bar dispensers for cars and vans. The installations start with a capacity of 1,000 kilos of hydrogen per day and can scale up to 3,000 kilos or more. Advanced cooling and buffering systems make refuelling fast and reliable a car can be ready to go in minutes.
Alongside hydrogen, every station also provides fast charging for electric vehicles, making it a one-stop solution for clean mobility. Smart software keeps uptime above 98%, ensures efficient energy use, and allows the system to grow with demand. What sets Fountain Fuel apart is its focus on independence and quality. Unlike traditional oil majors, the company has no fossil fuel legacy. With in-house expertise in technology, permitting, and operations, Fountain Fuel designs and manages every site itself, ensuring reliability, scalability and future readiness.
Fountain Fuel generates revenues through the sales of (certified) green hydrogen and fast charging services at its stations.
Passenger cars and vans also contribute to revenues, as hydrogen is often the best fit for specific use cases, such as long-distance driving, high utilization in fleet operations, or when fast refueling is essential for maintaining flexibility.
An important strength of the model is the predictability of income. Long-term “take-or-pay” contracts with transport companies, supported by the Dutch SWiM subsidy program, Fountain Fuel secured over 100,000 kilograms of annual hydrogen demand. These agreements provide a stable stream of recurring revenues, reducing risk and giving early visibility of positive EBITDA.
Fountain Fuel is currently operating in the Netherlands, with stations placed at strategic locations along key transport corridors and in urban hubs. The company reaches 30 percent of the Dutch hydrogen mobility market by 2025 and plans to expand into other European markets as adoption grows.
The hydrogen mobility market is at an early but accelerating stage of growth in Europe. Heavy-duty transport, logistics and public transit are driving the demand, as battery-electric solutions are often impractical for long distances, grid-congested regions and heavy payloads. The Netherlands plays a leading role in this transition, with national and EU subsidies supporting both infrastructure development and the purchase of hydrogen-powered vehicles.
By 2028, hydrogen mobility is expected to become a mainstream option for logistics companies across Europe.
Competition comes mainly from large international oil companies such as TotalEnergies/Air Liquide, as well as smaller hydrogen pioneers. Unlike these players, Fountain Fuel has no fossil fuel legacy. This independence allows the company to focus entirely on building clean, future-proof stations.
Barriers to entry for new competitors are high. Permitting processes, technical expertise, and subsidy management are complex and time-intensive. Fountain Fuel’s in-house knowledge and proven track record provide a clear competitive advantage in creating reliable, scalable infrastructure in a market poised for rapid growth.
The Sustainable Development Goals (SDGs or 'Global Goals') are part of the UN 2030 Agenda for Sustainable Development and constitute the international framework for sustainable development until 2030. These SDGs are intended to put an end to poverty, inequality, and climate change.
Fountain Fuel supports Sustainable Development Goal 7 by delivering zero-emission hydrogen for clean mobility. In 2024, the company supplied more than 1,100 tons of certified green hydrogen, cutting carbon emissions and speeding up the energy transition. Its stations are designed for efficiency, using smart software to reduce energy use, and the company is exploring on-site renewable generation.
Fountain Fuel contributes to Sustainable Development Goal 11 by enabling zero-emission zones in major cities. The company’s hydrogen refuelling stations complement electric charging and help reduce air pollution, creating cleaner air and healthier urban environments. By 2030, the Amersfoort station alone will avoid an estimated 9,380 tonnes of CO₂ and 33.6 tonnes of NOₓ (oxides of nitrogen), equal to replacing 4.2 million liters of diesel. With 25 stations planned by 2030, this positive impact will extend nationwide.
Co-Founder & CEO
Steef Severijn is the co-founder and CEO of Fountain Fuel. With more than 15 years of experience managing large-scale infrastructure projects (>€50 million) in water management and property development, he brings deep expertise in project management, finance, and legal structuring. Steef has successfully led complex, multi-stakeholder initiatives, ensuring projects are delivered on time and within budget. At Fountain Fuel, he is responsible for strategic direction, project execution, and financing. His background in managing capital-intensive infrastructure projects is a key asset in scaling the company’s nationwide network of hydrogen refuelling and charging stations.
Co-Founder & CMO
Stephan Bredewold is co-founder and Chief Marketing Officer of Fountain Fuel. With a strong background in communications, events, and business development, Stephan has built a career around introducing innovative products and services to the market, including early launches of technologies that have since become mainstream. At Fountain Fuel, he is responsible for building strategic partnerships with suppliers, vehicle manufacturers, and fleet operators, while securing long-term hydrogen offtake agreements. His expertise in branding, stakeholder engagement, and market development ensures that Fountain Fuel is not only a technical frontrunner, but also a trusted partner for customers across the mobility sector.
COO
David Pianelli is COO of Fountain Fuel and brings over 15 years of international experience in operations and service management within the petrochemical, energy, and automotive industries. He has held leadership roles in multinational companies, where he was responsible for plant operations, technical services, and supply chain management. At Fountain Fuel, David oversees the design, construction, and operation of hydrogen refuelling systems, as well as hydrogen procurement and logistics. His proven track record in scaling complex infrastructure projects and ensuring operational excellence is instrumental in delivering Fountain Fuel’s reliable, high-performance stations across the Netherlands and beyond.
Head of Business Operations
Justin van Schooneveld leads Business Operations at Fountain Fuel, overseeing the seamless execution of daily operations across the network of zero emission energy stations. With a strong operational mindset, he ensures that every station from development through to launch and ongoing service is operationally efficient, compliant, and scalable. Justin is responsible for logistics, vendor coordination, site workflows, and operational readiness. His role is critical in bridging strategic planning with on the ground execution, enabling Fountain Fuel to reliably deliver uptime of over 99% and replicate success across multiple locations.
Head of Business Development
Beer Kwantes leads Business Development at Fountain Fuel, driving the company’s expansion in the hydrogen mobility market. He is responsible for building strategic partnerships with logistics operators, vehicle manufacturers, and government bodies to accelerate the rollout of Fountain Fuel’s hydrogen refuelling stations. Beer actively advocates for hydrogen as an essential complement to battery-electric solutions, particularly in heavy transport and long-distance applications. His strong network and expertise in stakeholder management have been instrumental in securing subsidies and initiating new station projects, strengthening Fountain Fuel’s position as a frontrunner in zero-emission mobility.
Fountain Fuel Holding B.V. (the holding company) is the central entity that owns and oversees the group’s activities. Investors in this financing round are investing in Fountain Fuel Station Amersfoort B.V., the operational entity that owns and operates the Amersfoort hydrogen and charging station.
Revenues and profits from the Amersfoort station flow into Fountain Fuel Station Amersfoort B.V., which is legally supported by guarantees and capital injections from the holding. The holding company also coordinates subsidies, equity rounds, and network expansion.
This setup provides transparency for investors: the loan is tied to the operational company with collateral (the station itself), while backed by the financial strength and guarantee of the holding company.
In April 2023, Fountain Fuel launched its first financing round via Invesdor: a €1.2 million, 3-year bullet bond at 7.2%, with the holding company as project owner and a European subsidy as collateral. The bond was fully subscribed within 24 hours.
In October 2024, around €700,000 was repaid early to the crowd (including one extra year of interest) thanks to an early release of subsidy funds. The remaining part of the loan is secured with a 50% loan-to-value, with an expected subsidy payout of around €1 million at the end of the tenor.
Since then, Fountain Fuel has made significant progress:
Amersfoort Station has been fully operational since September 2023, delivering a market-leading availability of more than 98%.
New stations in Nijmegen and Rotterdam are under construction, with permits secured and expected to go live in early Q4 2025. Eight additional sites across the Netherlands are in the permitting stage.
Strong offtake contracts: backed by over €23.2 million in subsidies, hydrogen-powered vehicles have been purchased. As a result, nearly 100,000 kg of hydrogen per year has already been contractually secured through take-or-pay agreements, with total projected offtake reaching more than 1,000,000 kg annually.
Continued shareholder confidence: €3.463 million in new equity was raised through convertible loans at Holdco level, fully subscribed by existing shareholders. This demonstrates strong support for Fountain Fuel’s vision and growth momentum.
With these achievements and a rapidly expanding national network, Fountain Fuel is strengthening its position as a pioneer in zero-emission fueling and mobility.
Fountain Fuel intends to allocate the proceeds from this financing round to expand the hydrogen capacity and advance the new 700-bar heavy-duty technology used in heavy-duty trucks, at Fountain Fuel Amersfoort. All funds raised will be used to upgrade the station. Any amount not covered by the €2 million target will be provided by the parent company. This upgrade is directly linked to the growing demand from logistics partners, who have already signed long-term agreements to refuel at the station.
Fund allocation breakdown:
40% – 700 bar dispenser upgrades – aligned with the latest ISAE standards for heavy-duty vehicles.
30% – High-pressure buffer systems – to guarantee continuous supply during peak demand.
20% – Advanced cooling units – to increase reliability and efficiency of high-volume refuelling.
10% – Software updates & monitoring – to optimize station operations, monitoring, and user experience.
In this update section you will find new, project-relevant information that we receive.
Invesdor does not conduct a separate review of information received after the start of the financing phase.
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Fountain Fuel is once again taking a major step forward in its mission to make sustainable mobility accessible. It was recently announced that the National Hydrogen Programme and the Top Sector Energy have awarded more than €40 million in subsidies to Dutch transport companies and filling stations investing in hydrogen. Fountain Fuel itself has secured over €15 million in subsidies this year, providing a strong boost to accelerate the rollout of its zero-emission station network.
This support underlines the momentum of hydrogen mobility in the Netherlands, which is expected to play a key role in the decarbonisation of heavy transport and mobility. For Fountain Fuel, it strengthens the financial foundation and allows faster realisation of planned stations in cities such as Amersfoort, Rotterdam, and Nijmegen.
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