Mr. Segall will bring deep investor relations and capital-raising experience to drive engagement with Tritium shareholders
TORRANCE, Calif., November 29, 2022—Tritium DCFC Limited (“Tritium” of the “Company”) (Nasdaq: DCFC), a global leader in direct current (“DC”) fast chargers for electric vehicles (“EVs”), today announced that Cary Segall will join the Company as Vice President of Investor Relations. Segall most recently served as head of investor relations at ADS-TEC Energy, Inc. (Nasdaq: ADSE). He will bring more than 20 years of experience in senior business development and investor relations roles to Tritium.
“Tritium couldn’t be more excited to welcome Cary Segall to lead our investor relations,” said Tritium CFO Rob Topol. “At a time when demand for Tritium’s fast chargers continues to grow, Cary will be instrumental in advancing the Company’s mission to electrify transportation.”
Mr. Segall has extensive experience and deep relationships across a range of institutional investor categories. He earned a Bachelor of Science degree in Business Management and Marketing from Cornell University, is licensed with FINRA and holds the Series 7 and 66 designations.
“Throughout my career, I’ve sought out opportunities to drive growth across innovative companies,” said Segall. “Tritium’s team, products, and partners demonstrate how the Company is moving the fast EV charging industry forward, and I’m excited to be part of their next chapter. I look forward to collaborating with my colleagues around the globe as we work towards a world with fast charging everywhere.”
Cary Segall will be based in New York, supporting Tritium’s US, European, and APAC investor base.
About Tritium
Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.
For more information, contact us.
Forward Looking Statements
This press release includes “forward-looking statements.” The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” “aim” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
No Offer
This press release is for informational purposes only and it does not represent an offer to sell or the solicitation of an offer to buy any of the Company’s securities. There will be no sale of the Company’s securities in any jurisdiction in which one would be unlawful.
Media Contact
Jack Ulrich
[email protected]
Investor Contact
[email protected]
EasyGo, the largest private car charging network in Ireland used by more than 30,000 drivers across 2,400 existing charge points, today announced, at the Business Post EV Summit at the RDS Arena, a multi-million Euro investment in new fast DC EV chargers in towns and villages around Ireland.
This investment is part of a partnership with eir, Ireland’s leading telecommunications company, where telephone kiosks are being removed and replaced with state-of-the-art Tritium electric vehicle chargers. With this additional investment, EasyGo have committed to deploying 200 fast DC chargers around Ireland under this scheme.
Having launched this programme in Carlow in May 2022, EasyGo have contracts to add Tritium chargers at 70 locations in counties Offaly, Mayo, Cavan, Waterford, Kilkenny, Tipperary & Monaghan in the next phase of this project. These will be rolled out over the next six months. EasyGo are actively engaged with other local authorities to identify 130 additional locations across Ireland for new fast DC Tritium chargers, and this program will be delivered at zero cost to county councils.
Commenting on this project, Chris Kelly, founder and technical director of EasyGo said:
“We are delighted to work with so many local authorities on this program as well as with our partners in eir and Tritium. Our team are already actively rolling the next phase of this investment to install 70 new fast Tritium chargers. We’ll continue to engage with local authorities and look forward to identifying 120 more locations around the country.
This rollout is consistent with the national strategy outlined by Department of Transport and ZEVI. These chargers will make the transition to EVs in rural Ireland much easier and will be located in convenient town centre locations across the country.
To support with the EV technology requirements for the rollout, EasyGo have partnered with Tritium, a global leader in DC fast chargers for electric vehicles and producer of some of the most advanced DC fast chargers in the world.
Speaking in advance of the EV Summit in Dublin on November 9th, David Nicholl, Tritium’s Chief Sales Officer, said: “As an Irishman, I’m incredibly proud that Tritium has been selected as the exclusive technology partner for this project which will bolster Ireland’s transition to electric vehicles. With Tritium’s world-class fast chargers, electric vehicle drivers in Ireland will gain access to a fast and convenient charger designed to thrive in any environment. The efforts of EasyGo and eir will not only increase fast charger availability, but also make a positive environmental impact. Firstly, by encouraging more drivers in Ireland to adopt electric vehicles and secondly, by repurposing existing infrastructure to bring these chargers online. I look forward to experiencing these chargers first-hand as I travel with Chris and the EasyGo team as we roll out these chargers in towns across the country.”
Commenting, Oliver Loomes, CEO of eir said: “Electric vehicles are a critical part of the Government’s Climate Action Plan which sets out a target of almost one million electric vehicles on the road by 2030. In order for Ireland to move to greener electric vehicles, we must have the required infrastructure in place, not just in cities, but across all of Ireland. We are proud to partner with EasyGo and each of these county councils to assist in the installation of EV charging points across the country. This new infrastructure will benefit the community the way the public payphone service once did. The chargers will not only benefit the people living and working in Waterford, Tipperary, Kilkenny, Mayo, Offaly, Cavan and Monaghan, but also those travelling through. Today, EasyGo & eir are in discussion with county councils across the country, and we hope others will follow this lead. By replacing unused infrastructure with fast EV charging, we are helping to make the transition to electric vehicle ownership a viable alternative for people across Ireland.”
According to Society of the Irish Motor Industry (SIMI), about 1 out of every 7 cars sold in Ireland this year are fully electric, and the rate of adoption of EVs is growing quickly. Adding these chargers, in easily accessible town centre locations, will increase the appeal of EVs for drivers as it will reduce range anxiety. Transport accounts for one-third of Ireland’s energy-related CO2 emissions so increasing adoption of EVs is a key aspect Ireland’s Climate Action Plan.
In rural areas, where public transport is far less available, it is even more important that people can go electric with confidence. That is why these partnerships across Ireland are so important to provide fast charging for both local residents and visitors. The EasyGo network is today used by more than 30,000 Irish EV drivers that can find, use, and pay for charging at more than 2,400 charge-points on the EasyGo app.
EasyGo & eir are actively engaged with several local authorities around Ireland about this scheme and look forward to making further investment announcements in the coming weeks and months. Under the program, eir telephone kiosks will be removed, and replaced (at or near the location) with state of the art, Tritium 50kW modular fast chargers. All this is being done at zero cost to local authorities.
For queries relating to the EasyGo eir project, please contact:
Dermot OToole: [email protected]
For queries relating to Tritium, please contact:
Press office: [email protected]
Investor relations: [email protected]
Notes to Editor:
About EasyGo:
EasyGo are the largest private car charging network operating in Ireland. Their business satisfies corporate, public, and home charging clients with hardware and software charging solutions. Founded in 2018, EasyGo operates out of Maynooth, Kildare and serves EV drivers across the island. Their mission is to provide EV drivers with the network they need to make sustainable transport a reality. EasyGo are supported by Rubicon, one of the world’s leading investment banking firms focused solely on the infrastructure, energy & utilities sectors.
About eir:
eir is Ireland’s leading telecommunications company and the principal provider of fixed-line and mobile telecommunications services in Ireland with approximately 2 million customers. We have the most extensive telecommunications network in Ireland both in terms of capacity and geographic reach. The Group provides a comprehensive range of advanced voice, data, broadband and TV services to the residential, small business, enterprise and government markets.
About Tritium:
Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world. For more information, contact us.
Partnership will facilitate the development of a federally funded coast-to-coast EV charging network
TORRANCE, Calif., OCTOBER 25, 2022—Tritium DCFC Limited (Tritium) (Nasdaq: DCFC), a global leader in direct current (DC) fast chargers for electric vehicles (EVs), today announced its partnership with EV supply equipment manufacturer DC-America. DC-America is now offering its versatile charging station infrastructure equipped with Tritium’s industry-leading fast chargers, creating an efficient and effective EV charging system. This solution is expected to be both compliant with federal Buy America standards and eligible for National Electric Vehicle Infrastructure (NEVI) Formula Program funding.
“Tritium and DC-America share the common goal of electrifying transportation nationwide through an accessible charging network,” said Tritium CEO Jane Hunter. “We’re thrilled to partner with an industry innovator on a charging system that’s proudly made in America. We look forward to seeing DC-America stations equipped with Tritium chargers servicing drivers across the country.”
DC-America’s modular, skid-based charging systems allow for rapid deployment, with minimal onsite disruption and a simplified permitting process. With the ability to upgrade and expand over time, the company’s systems are suited for highway corridor charging locations and provide the flexibility that today’s rapidly growing EV charging sites demand. DC-America is now offering customers its system equipped with Tritium’s uniquely modular and scalable 150kW DC fast charger, the PKM150.
“Designed for cost-effective operations and infrastructure deployment, the PKM150 is the ideal charger to pair with DC-America’s innovative system,” Hunter continued. “Together, our companies’ products create an EV charging solution that is unmatched in its efficiency, reliability, and scalability.”
All components of DC-America’s system and Tritium’s chargers are anticipated to comply with the U.S. Federal Highway Administration’s (FWHA) proposed Buy America requirements following the opening of Tritium’s global manufacturing facility in Lebanon, Tennessee in August. The combined DC-America and Tritium solution is expected to qualify for all 52 state and territory NEVI programs, which are funded by the Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure Law. The NEVI program will allocate $5 billion over five years toward developing a convenient, reliable, and affordable EV charger network nationwide.
“When deciding which chargers to pair with our NEVI-compliant system, Tritium was a natural choice,” said DC-America President Nathan Bowen. “With a reputation that speaks for itself, Tritium is an ideal partner in our efforts to deliver accessible and convenient charging infrastructure across the country.”
The Biden-Harris administration announced its approval of all 50 states, D.C., and Puerto Rico’s Electric Vehicle Infrastructure Deployment Plans, totaling more than $1.5 billion in NEVI Formula funding in September. According to the U.S. Joint Office of Energy and Transportation, this investment will help to build EV chargers across more than 75,000 miles of highway nationwide.
About Tritium
Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.
For more information, contact us.
About DC-America
DC-America designs, manufactures and installs turn-key single point connection charging stations. DC-America offers our customers a forward-thinking solution that enables the flexibility to grow and keep pace with the ever-growing EV infrastructure needs of America. DC-America proudly employs EVITP trained technicians to build our solutions that will fuel the deployment of American EV Infrastructure.
Forward Looking Statements
This press release includes “forward-looking statements.” The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” “aim” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
Media Contact
Jack Ulrich
[email protected]
Investor Contact
Caldwell Bailey
ICR, Inc.
[email protected]
New ChargeNet Stations Technology Out to Democratize EV Charging
SAN FRANCISCO, Calif., Oct. 18, 2022 – ChargeNet Stations, an electric vehicle (EV) fast-charging station development and software company, in partnership with Taco Bell franchisee Diversified Restaurant Group (DRG), opens its first ultra-fast charging stations at a South San Francisco Taco Bell® this morning. ChargeNet Stations is using its innovative software technology, pairing solar energy and energy storage with Tritium’s fast EV chargers at quick serve restaurants across California.
“Call it quick food, quick charge,” said ChargeNet Stations CEO and Founder Tosh Dutt. “You can get an EV charge and a chalupa all in one easy stop.”
ChargeNet Stations is compatible with all EV connector types and offers, on average, a 100-mile charge in 20 minutes, or fewer, for around $20. Locations are being strategically positioned to make EV charging available in traditionally underserved communities.
“We are committed to catalyzing the EV revolution to ensure it spans across all demographics,” Dutt said. “This is why we are working with quick-serve restaurants, where an estimated 120 million Americans eat every day. About half of our locations are in marginalized communities across California, providing charging access to people who may not have the luxury of a home charging station. We are out to democratize EV charging across California and beyond.”
More than 100 California Taco Bell restaurants, owned by DRG, are set to be “electrified” in the next year, meaning they will be equipped with ChargeNet Stations’ fast charging, energy storage, renewable energy, and software technology. The company will be expanding to other brands, soon to be announced, as well.
The highly efficient EV charging is made possible with ChargeNet Stations’ innovative software technology that leverages solar energy and advanced energy storage solutions to offset the demand on the grid and charge vehicles faster. By integrating solar and energy storage, ChargeNet Stations keeps restaurant utility costs in check and increases renewable energy usage, which is not only convenient and cost effective, but it also helps decarbonize the planet.
ChargeNet Stations’ debut Taco Bell location, at 465 El Camino Real, is operated by Taco Bell’s franchisee Diversified Restaurant Group and has six charging stations offering customers a clean, convenient EV charge.
“We’re always looking for opportunities to bring innovative and sustainable ideas to market, especially those that create a ‘win-win’ for our customers, the community, and our business,” says SG Ellison, President of Diversified Restaurant Group. The group currently operates more than 300 Taco Bell and Arby’s in five states and is growing rapidly. “ChargeNet Stations has been a great partner and we’re looking forward to what the future holds.”
Automotive experts predict more than 50 types of EVs, priced at or below $30,000 will be available in the U.S. market within the next three years. By 2035, California plans to ban the sales of new gas-powered cars and trucks.
“We’re solving a demand problem we know is coming,” said Dutt. “What we’re doing is creating a seamless opportunity for a quick charge at a convenient place and for a good price – and it’s good for the planet.”
“For the first time in many decades, how and where we power transportation is up for grabs, creating countless opportunities for rapid and convenient EV charging,” said Tritium CEO Jane Hunter. Tritium, a leading direct current fast charger manufacturer, has sold more than 7,600 chargers across 42 countries, and recently opened a Tennessee factory to increase U.S. supply capabilities and produce Buy America-compliant chargers in 2023. “This ChargeNet Stations site sets a new standard in convenient charging, pairing cutting-edge Tritium fast charger technology with on-site solar, battery storage and the opportunity to rest and recharge with a warm meal from Taco Bell.”
The partnership is expected to expand in other areas and leverages funding from the California Energy Commission’s California Electric Vehicle Infrastructure Project (CALeVIP) and the California Public Utilities Commission’s (CPUC) Self-Generation Incentive Program (SGIP). In addition to helping EV drivers, the state funding is creating jobs for local installers, leveraging solar energy, and supporting business owners looking to transform their parking lots into profit centers.
ChargeNet Stations has received funding from Aligned Climate Capital, the San Diego Angels, Tech Coast Angels, and the LACI Impact Fund.
To learn more about ChargeNet Stations, and opportunities for franchisees and employment, visit ChargeNetStations.com and on Twitter @ChargeNetStnUS.
Media Contact:
Elizabeth L. Driscoll – [email protected]
480-766-3794
About ChargeNet Stations
ChargeNet Stations is an electric vehicle fast-charging station development and AI driven software company. Our software platform creates a seamless opportunity for Quick Serve Restaurants to offer customers a superior EV charging experience in mere minutes. ChargeNet Stations’ hardware-agnostic SaaS platform, ChargeOpt, optimizes EV chargers and renewable energy to transform parking lots into profit centers.
About Tritium
Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world. For more information, contact us.
Tritium Media Contact
Jack Ulrich
[email protected]
Tritium Investors Contact
Caldwell Bailey
ICR, Inc.
[email protected]
BRISBANE, Australia, September 29, 2022 – Tritium DCFC Limited (Tritium), a global developer and manufacturer of direct current (DC) fast charging technology for electric vehicles (EVs), today announced that the company will provide fast chargers for a new EV highway that will span more than 7,000 kilometers (4,350 miles) across the state of Western Australia.
The project is part of a AUD$43.5 million investment by the Western Australian government, focused on expanding access to EV infrastructure across the state. To launch the investment, the Western Australian government, through its energy utilities Synergy and Horizon Power, awarded a contract to JET Charge, which will supply hardware for 98 fast chargers across 49 locations. Tritium will supply its award-winning 75kW modular fast charger for this unprecedented charging infrastructure for some of Horizon Power’s regional sites.
“It’s fantastic to see government policies supporting EV uptake in Australia. Western Australia is a state with vast unpopulated distances, and governments have a role to play supporting highway electrification in rural and remote areas where site utilisation may not be profitable for private sector operators,” said Tritium CEO Jane Hunter. “We’re excited to be working with our partners at JET Charge on this fantastic project to electrify the Western Australian highways and we look forward to continuing to provide the fast charger hardware, software, and services needed to support rapid EV adoption here in Australia and around the world.”
Tritium will manufacture all chargers for the project in its Brisbane factory, which has an annual production capacity of approximately 5,000 units.
“For almost a decade, JET Charge has been a leader in Australia’s transition to electric transportation, and we’re honoured to have been selected by the Western Australian government for this momentous project,” said JET Charge CEO Tim Washington. “We’re excited to partner with Tritium, which makes some of the most advanced chargers in the world right here in Australia. With help from partners like them, we will continue to increase access to charging technology across the country, giving every Australian the opportunity to drive electric.”
The first charging stations supplied by Tritium are expected to be installed early next year, and the full network of 98 chargers is anticipated to be fully operational by early 2024.
About Tritium
Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.
For more information, contact us.
About JET Charge
JET Charge is Australia’s leading electric vehicle charging infrastructure business, on a mission to accelerate the uptake of EVs by breaking down the barriers to EV charging. They are charging partners for many of Australia’s largest vehicle manufacturers, leading corporates, and government agencies. JET Charge specialises in EV charging design, engineering, hardware supply, installation, and technology.
To learn more, visit https://jetcharge.com.au/ or email [email protected]
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Tritium’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” “aim” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, Tritium’s expectations, hopes, beliefs, intentions, or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by Tritium from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Tritium’s control and are difficult to predict. Tritium cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. Tritium does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
###
Media Contact
Jack Ulrich
[email protected]
Investor Contact
Caldwell Bailey
ICR, Inc.
[email protected]
Tritium modular DC fast chargers are available for purchase to federal agencies through the GSA’s five-year Blanket Purchase Agreement
TORRANCE, Calif., September 27, 2022—Tritium DCFC Limited (Tritium) (Nasdaq: DCFC), a global leader in direct current (DC) fast chargers for electric vehicles (EVs), today announced that its modular fast chargers are available for purchase by government entities through the U.S. General Services Administration’s (GSA) five-year Blanket Purchase Agreement (BPA) dedicated to EV-related equipment.
U.S. federal agencies can now purchase Tritium’s industry-leading modular fast chargers via any company partners that are current Multiple Award Schedule (MAS) holders and have been awarded a BPA contract. This announcement is the latest example of Tritium’s commitment to electrifying North America through its state-of-the-art DC fast chargers. It also comes on the heels of the opening of the company’s first U.S. manufacturing facility in Lebanon, Tennessee.
“The future of transportation across the United States is electric, and the federal government is leading by example,” said Tritium CEO Jane Hunter. “After opening one of the country’s only DC fast charger manufacturing facilities in August, Tritium is proud to support the federal government’s efforts to electrify its transportation operations.”
As the Biden Administration continues its pursuit of electrifying the entire federal fleet, this BPA simplifies the process of obtaining EV-related equipment and ancillary services, including Tritium’s modular DC fast chargers. According to the GSA’s most recent inventory, the federal government’s more than 650,000 vehicles collectively traveled over 4.2 million miles last year. Also in 2021, the Biden Administration issued an executive order designed to accelerate the electrification of the U.S. government fleet, of which EVs currently comprise less than 1%.
“Tritium is pleased to see the United States government’s commitment to building accessible, reliable fast charging services to support an electric federal fleet,” Hunter continued. “By simplifying the EV charger buying process and encouraging collaboration across the public and private sectors, the BPA is helping to rapidly electrify transportation across America.” This announcement follows the August passage of the Inflation Reduction Act (IRA), which provides $370 billion in climate change investments to help reduce carbon emissions by 40% by 2030. The legislation includes significant tax breaks for businesses that purchase new medium- and heavy-duty EVs and new chargers.
About Tritium
Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.
For more information, contact us.
Forward Looking Statements
This press release includes “forward-looking statements.” The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” “aim” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
No Offer
This press release is for informational purposes only and it does not represent an offer to sell or the solicitation of an offer to buy any of the Company’s securities. There will be no sale of the Company’s securities in any jurisdiction in which one would be unlawful.
Media Contact
Jack Ulrich
[email protected]
Investor Contact
Caldwell Bailey
ICR, Inc.
[email protected]
BRISBANE, Australia, September 22, 2022 – Tritium DCFC Limited (Nasdaq: DCFC) (“Tritium” or the “Company”), a global developer and manufacturer of direct current (“DC”) fast chargers for electric vehicles (“EVs”), today announced record sales orders, revenue, and backlog for any calendar year or fiscal year in its history.
Tritium today announced financial results for its fiscal year ended June 30, 2022:
“Over $200 million of sales orders in a twelve-month period is an incredible validation of Tritium’s technology and category leadership, and significantly outpaces total sales orders in prior fiscal years. This is a testament to remarkable work from our employees, and a signal of the velocity now emerging across the global fast charger category as we look to 2023 and 2024,” said Tritium CEO Jane Hunter. “Our customers are now implementing multi-year investment strategies to build networks of fast charging infrastructure in our primary target geographies of the United States, Europe, Australia, and New Zealand. We are pleased to begin the 2023 fiscal year with a record contracted backlog that is currently in the process of being fulfilled as our Tennessee facility ramps-up its production capacity, in-line with our operating plan.”
Fiscal year 2022 saw an escalating level of sales activity across all of Tritium’s geographies, with strong demand from existing and new customers. Tritium is actively expanding factory capacity, bolstering supply chain, and improving production yields. For the fiscal year ended June 30, 2022, Tritium’s footprint grew to more than 11,000 fast charger connectors around the world.
In support of this accelerating growth, the Company officially opened its new Tennessee factory on August 23, 2022. The factory, which came online in approximately five months, is planned to increase production capacity over the course of calendar year 2023, with an ultimate target capacity of up to 30,000 fast charger units per year, for delivery throughout the Americas and Europe. Tritium expects the Tennessee factory to reach a production capacity of 6,000 charger units per year by December 2022 and plans to scale to 28,000 units of production capacity by December 2023.
Tritium is now producing its modular fast chargers at the Tennessee factory. These DC fast chargers are compatible with all EVs, compact, reliable, IP65-rated, and cost effective, and are expected to be eligible for EV charging tax credits offered under the Inflation Reduction Act (“IRA”). Tritium’s modular fast chargers are also expected to meet Federal Highway Administration (“FHWA”) Buy America Act standards in 2023, making them eligible for the $5 billion in National Electric Vehicle Infrastructure (“NEVI”) Formula Program funding, including the first wave of $900 million recently approved by President Biden. Tritium is already in discussions with several customers who are targeting NEVI Program disbursements. In addition to NEVI, the Bipartisan Infrastructure Law provides $2.5 billion in discretionary grant programs for which Tritium expects its products will be eligible.
“Tritium’s Tennessee factory will create a step change in throughput for the Company. The facility, which spans 120,000 square feet, was designed to be capable of producing up to six times more product than Tritium’s prior global manufacturing footprint, and is one of the largest EV fast charger factories in the United States,” said Rob Topol, who will be transitioning into the role of CFO following the filing of the Company’s Form 20-F. “Of particular importance, the Tennessee facility is expected to provide the Company with significant economies of scale in 2023. This scale — combined with improved manufacturing processes, reduced freight costs through a combination of delivery via truck instead of sea freight for North American customers and significantly shorter shipping routes to Europe, as well as onboarding local suppliers closer to the manufacturing process, component volume discounts, the expected easing of component shortages over the course of 2023, and faster to assemble modular chargers — is key in our plans to further increase gross margin above the 300 basis point improvement achieved year-over-year.”
Despite the Company’s Tennessee factory being completed in just five months from lease commencement, its production volumes are approximately six weeks behind schedule due to the challenges experienced by electronics manufacturing businesses globally, principally related to supply chain and recruitment delays. This delay in production is expected to shift approximately six weeks of projected 2022 revenue, or approximately $45 million, into calendar year 2023, resulting in expected calendar year 2022 revenue of approximately $125 million. Importantly, this revenue is expected to be realized in the first quarter of calendar year 2023.
As previously announced, Tritium refinanced its existing $90 million credit facility with a three-year $150 million facility led by its longstanding lenders, Cigna Investments, Inc. and Barings LLC. Further, the Company entered into a committed equity facility of up to $75 million with B. Riley Financial, Inc., which the Company expects to access depending on market conditions. These financings will be used for general corporate purposes and working capital investments principally tied to the inventory ramp-up required to meet significantly increased sales orders, and the expansion of the Tennessee factory.
Earnings Conference Call Information
The Tritium management team will host a conference call to discuss the Company’s full fiscal year 2022 results on Thursday, September 22, 2022, at 4:30 p.m. Eastern time. The call can be accessed via a live webcast accessible on the Events page in the Investor Relations section of Tritium’s website at investors.tritiumcharging.com. An archive of the webcast will be available on the website after the call.
About Tritium
Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.
Tritium continues to qualify as a Foreign Private Issuer (“FPI”) as defined by Rule 405 of Regulation C under the Securities Act and Rule 3b-4 under the Exchange Act. As such, the Company will file its next period financial results via its Form 6-K for the six-month period ending December 31, 2022, in early 2023.
For more information, contact us.
Presentation of Information
Unless otherwise indicated, references to a particular “fiscal year” are to our fiscal year ended June 30 of that year. References to a year other than a “fiscal” or “fiscal year” are to the calendar year ended December 31.
Forward Looking Statements
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, also known as the Private Securities Litigation Reform Act of 1995. Any express or implied statements contained in this press releasethat are not statements of historical fact and generally relate to future events, hopes, intentions, strategies, or performance may be deemed to be forward-looking statements. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “might,” “possible,” “believe,” “predict,” “potential,” “continue,” “aim,” “strive,” and similar expressions may identify such forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expressed or implied forwarding-looking statements, including, but not limited to: our history of losses; the ability to successfully manage our growth; the adoption and demand for electronic vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; the accuracy of our forecasts and projections including those regarding our market opportunity; competition; our ability to secure financing; delays in our manufacturing plans; losses or disruptions in supply or manufacturing partners; risks related to our technology, intellectual property and infrastructure; exemptions to certain U.S. securities laws as a result of our status as a foreign private issuer; and other important factors discussed under the caption “Risk Factors” in the Company’s prospectus filed pursuant to Rule 424(b)(3) filed with the Securities and Exchange Commission (the “SEC”) on August 30, 2022, as such factors may be updated from time to time in the Company’s other filings with the SEC, accessible on the SEC’s website at www.sec.gov and the Investors Relations section of Company’s website at https://investors.tritiumcharging.com/. Any investors should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the SEC as most of the factors are outside the Company’s control and are difficult to predict. As a result, the Company’s actual results may differ from its expectations, estimates and projections and consequently, such forward-looking statements should not be relied upon as predictions of future events. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as to management expectations and beliefs as of the date they are made. The Company disclaims any obligation or undertaking to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than to the extent required by applicable law.
No Offer
This press release is for informational purposes only and it does not represent an offer to sell or the solicitation of an offer to buy any of the Company’s securities. There will be no sale of the Company’s securities in any jurisdiction in which one would be unlawful.
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Tritium Media Contact
Jack Ulrich
[email protected]
Tritium Investors Contact
Caldwell Bailey
ICR, Inc.
[email protected]
[1] Tritium reports sales and backlog based only on executed and contracted purchase orders; does not include anticipated, expected, or potential volumes from memorandums of understanding (MOUs) or customer indications
BRISBANE, AUSTRALIA, September 15, 2022 – Tritium DCFC Limited (“Tritium” or the “Company”) (NASDAQ: DCFC), a global leader in direct current (“DC”) fast chargers for electric vehicles (“EVs”) today announced that it will release financial results for the Company’s full fiscal year 2022, which ended June 30, 2022, after the market closes on Thursday, September 22, 2022. This release will be followed by a conference call for investors at 4:30 PM Eastern time the same day.
The call will feature prepared remarks from Tritium CEO Jane Hunter and current CFO Michael Hipwood. The prepared remarks will be followed by a question and answer session.
The conference call may be accessed via live webcast on a listen-only basis through the link on the News & Events page of the Investor section of Tritium’s website at https://investors.tritiumcharging.com/news-events/events. A replay of the webcast will be available shortly after the call on the Investor section of Tritium’s website.
About Tritium
Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.
For more information, contact us.
Media Contact
Jack Ulrich
[email protected]
Investor Contact
Caldwell Bailey
ICR, Inc.
[email protected]
BRISBANE, Australia, September 6, 2022 – Tritium DCFC Limited (Tritium or the Company), a global developer and manufacturer of direct current (DC) fast charging technology for EVs, today announced entry into a $150 million debt facility, provided by a consortium of investors, in addition to a committed equity facility established with B. Riley Principal Capital II, LLC, for up to $75 million.
This capital injection will be used to fund working capital, product development, and operational support and expansion. The working capital will position the Company to accelerate production and satisfy the large number of orders on hand from the Company’s diversified blue-chip customer base. In addition to tremendous EV industry growth over the past year backed by government incentives and carbon reduction targets, Tritium continues to see high demand from new and existing customers across the globe as the Company continues its growth trajectory and expansion in the Americas, Europe, and Asia.
“Transportation is electrifying at a breakneck pace. Tritium’s cutting-edge technology and culture of innovation provide the company with the tools to create top-tier fast charging hardware, software, and services, and now we have additional capital to scale,” said Tritium CEO Jane Hunter. “We look forward to using this investment to accelerate production, expedite product development, and, ultimately, to continue our pursuit of becoming the number one fast charger manufacturer on the planet.”
The $150 million senior debt facility will refinance the existing $90 million facility and provide a net injection of $60 million. The facility has a three-year term and 8.5% cash coupon supplemented with the issuance to the lenders or their affiliates of warrants for the purchase of ordinary shares of the Company. The consortium providing the facility comprises long-term supporter Cigna Investments, Inc. (Cigna), the investment arm of Cigna Corporation, a U.S.-based global health services company, in addition to Barings LLC (Barings), a leading global financial services firm and subsidiary of MassMutual, a U.S.-based mutual insurance company, and Riverstone Energy Limited.
“The strength of Tritium’s global market position, its differentiated technology along with high demand from public charging operators and fleets for Tritium’s products have presented a very compelling case to these debt investors. Tritium has an enviable revenue model, which requires relatively low amounts of capital expenditure to reach scale as the company specializes in DC fast charging products to blue chip, high-volume buyers. We particularly appreciate the continued long-term support of Cigna and Barings, who have been longstanding partners to Tritium, as we contribute to the global mission to electrify transportation.” said David Toomey, Tritium’s Head of Corporate Development. Toomey, who has managed Tritium’s capital raising activities for nearly a decade, says this transaction is one of the most satisfying. “Increasing the senior debt facility is a true testament to the team and Tritium’s DNA as the company continues to mature credit-worthy business fundamentals attracting international debt investors.”
The committed equity facility was established with B. Riley Principal Capital II, a subsidiary of a publicly traded, diversified financial services company. The committed equity facility will provide Tritium with the right, without obligation, to sell and issue up to $75 million of its ordinary shares to B. Riley at Tritium’s sole discretion, subject to certain limitations and conditions.
“These investments will put Tritium in a strong position to meet growing demand for DC fast chargers across the globe,” said CFO Michael Hipwood. “I have full confidence in both the cleantech industry and Tritium’s ability to lead DC fast charging, and the capital will allow Tritium to invest in new production capacity and product development to achieve revenue goals.”
This news follows Tritium’s recent grand opening of its first fast charger factory in the United States and the Company’s largest manufacturing facility in the world. The factory is designed to produce up to 30,000 fast chargers per year and is expected to comply with the Federal Highway Administration (FHWA) Buy America Act by the first calendar quarter of 2023.
Additionally, over the last several months, Tritium has announced a string of sales to customers all around the world, including BP, Shell, Enel X Way (a subsidiary of Fortune 200 renewable energy leader, the Enel Group), EVCS (one of the largest and fastest-growing electric vehicle charging networks on the West Coast of the United States), Motor Fuel Group (the largest independent forecourt operator in the United Kingdom (UK)), Osprey Charging Network (a UK-wide rapid electric vehicle charging network), and many more.
The world has seen demand for EVs skyrocket in recent years, fueled by goals to reduce carbon emissions, government incentives for vehicles and charging infrastructure, and consumer demand. In the United States, the recently passed National Electric Vehicle Infrastructure (NEVI) Formula Program provided $5 billion to build a coast-to-coast EV fast charging network. The Inflation Reduction Act also includes tax incentives for businesses to build EV fleets. EV adoption in Europe has been driven by aggressive European Union (EU) CO2 reduction standards. In 2021, one of every 11 cars sold in the EU was electric. That same year, the market share for battery electric vehicles in Europe was 9.1%, according to the European Automobile Manufacturers Association (ACEA), a 1.9% increase over 2019. The EU hopes to reduce carbon emissions to at least 55% below 1990 levels by 2030. These targets will drive further EV adoption across Europe. The EV market is growing exponentially across the globe, and Tritium is poised to meet demand for a robust infrastructure of DC fast chargers.
Tritium’s internal corporate development team arranged the debt transaction, with lawyers from Gilbert & Tobin and Corrs Chambers Westgarth providing advice to the lenders and Tritium, respectively. Latham & Watkins LLP acted as U.S. legal counsel to the Company in connection with the debt facility, including the issuance of warrants thereunder, and the committed equity facility.
All figures are in USD unless otherwise noted.
About Tritium
Founded in 2001, Tritium (NASDAQ: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.
For more information, contact us.
Forward Looking Statements
This press release includes “forward-looking statements.” The Company’s actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believe,” “predict,” “potential,” “continue,” “aim” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company’s expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. You should carefully consider the risks and uncertainties described in the documents filed by the Company from time to time with the U.S. Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. The Company cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
No Offer
This press release is for informational purposes only and it does not represent an offer to sell or the solicitation of an offer to buy any of the Company’s securities. There will be no sale of the Company’s securities in any jurisdiction in which one would be unlawful.
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Media Contact
Jack Ulrich
[email protected]
Investor Contact
Caldwell Bailey
ICR, Inc.
[email protected]