Azimut, the Infrastructure for Growth – ESG Fund invests in FastWay.

Azimut e Fastway ricarica per auto elettriche

FastWay aims to become the leading independent operator in the development and management of high-power charging infrastructure for electric vehicles.

Milan, October 17, 2022 – The Infrastructure for Growth–ESG Fund (IPC), established and managed by Azimut Libera Impresa Sgr will invest 50 million euros in the development of fast public charging infrastructure for electric vehicles nationwide through the start-up FastWay Spa, co-founded with engineers Paolo Esposto and Carlo Mereu. The two managers, with years of experience in the energy and electric mobility sectors, serve as CEOs and will oversee the start-up of the initiative, the development, and management of the charging network, along with CFO Serafino Marchio, who also has experience in the energy and finance sectors, will handle financial aspects.

The demand for electric vehicle charging services, especially in the high-power charging segment where the country is most lacking, is expected to increase exponentially alongside the number of circulating vehicles, which will grow from the current 300,000 to over 5 million by 2030. FastWay will utilize the best charging infrastructure (ranging from 50 to 400 kW) to provide electric vehicle drivers with the fastest and simplest charging experience possible, also by using Plug & Charge charging systems, always delivering energy from renewable sources.

The industrial plan involves the installation of 15,000 charging points, mainly Fast (fup to 150 kW) and Ultrafast (up to 400 kW), nationwide over a period of 10 years, to become the leading independent operator in the fast charging segment. The charging stations will be built both on public land, in collaboration with Municipalities, and on private land with public access near points of interest and attraction, generating benefits for citizens, customers of hosting facilities, and the environment. FastWay will contribute to decarbonization goals by saving over 5 million tons of CO2 emissions over the next decade.


The operation meets the sustainability requirements that guide the entire IPC Fund’s activity dedicated to investments in infrastructure capable of generating positive growth on the economy, the environment, and society with an ESG approach, and at the same time ensuring long-term profitability for investors. In particular, the Technical Committee of the IPC Fund, after analyzing the objectives and impact results, assessed that the investment could contribute to achieving 10 of the United Nations’ 17 Sustainable Development Goals (SDGs).

The IPC Fund has so far raised subscriptions for more than 450 million euros from 16 institutional investors, such as Pension Funds, Provident Funds, Insurances, and Foundations. Since the first closing in January 2021, the Fund has approved operations worth approximately 700 million euros, of which 19 have already been finalized for a total value of approximately 550 million euros, in infrastructure covering various sectors including education and academic training (Turin and Rome), diagnostic centers, analysis laboratories, and rehabilitation facilities (Cesena, Cagliari, and Catania), data centers (Milan and Rome), innovation hubs (Calabria), digitalization of the country (central-northern Italy), and circular economy, with two biogas plants and vertical farm projects (northern and southern Italy).

Andrea Cornetti, CEO Real Estate and Infrastructure of Azimut Libera Impresa Sgr, commented: We decided to support and invest in the Fastway project because it will operate in an exponentially growing sector such as electric mobility and zero emissions, which is an important and irreversible trend. An investment in line with the mission of our IPC Fund, which pursues the dual objective of building a more sustainable future and generating financial returns in line with the expectations of its investors.”

The co-founders of FastWay, Paolo Esposto and Carlo Mereu, hanno added: “We are at the beginning of the development of high-power charging in Italy: with FastWay, we want to revolutionize the electric mobility sector by providing our customers with the best charging experience possible through a fast charging infrastructure, widely available where actually demanded by users and easy to use. With this operation, thanks to the contribution of the Infrastructure for Growth–ESG Fund (IPC), we will be able to electrify the country, realizing our ambitious plans in a very short time. And to do this, we have planned a significant investment plan.”

The operation was made possible also thanks to the assistance of the legal firms Orrick and Bird&Bird and Finage Group.

An integrated business model

model FastWay builds and manages the charging stations entirely at its own expense, thanks to the solidity and long-term vision of investors, thus allowing its partners, whether public entities or private companies, to disengage from operating costs and business risks. The start-up provides a dedicated commercial reference for the project, taking care of all phases of implementation: from obtaining permits to testing, in complete safety and in compliance with all legal obligations, with regular maintenance activities and customer support 24/7. Each charging station is tailor-made for the site and its specific needs, optimizing the use of available space and making customers feel safe and comfortable.

Another focus of the start-up is to create an easy and immediate user experience, through the development of a proprietary mobile application or through the use of an RFID card, which allows access to the infrastructure even for anonymous users. FastWay’s charging network will be promoted throughout Europe on navigation systems and smartphone applications. This will increase flows of conscious tourism at the sites where the infrastructure will be installed and generate a return for the local economy and affiliated businesses or public administrations, which will be able to provide fast charging services to their customers and citizens.