Australian Prime Minister Anthony Albanese Visits Tritium

Rhea-AI Summary

Tritium DCFC Limited (Nasdaq: DCFC), a leading manufacturer of DC fast chargers for electric vehicles, recently hosted Australian Prime Minister Anthony Albanese at its Brisbane campus. The Prime Minister toured Tritium's advanced R&D facilities, which include the world's most powerful EMC testing chamber. His visit coincides with the launch of the $15 billion National Reconstruction Fund aimed at boosting Australia's industrial capabilities. Tritium is well-positioned to benefit from this initiative, focusing on low-emission technologies and advanced manufacturing.

The company holds a significant market share in the U.S. and Australia, exporting to 42 countries worldwide.

Positive

• Tritium welcomed the Australian Prime Minister, enhancing its visibility and credibility with government support.
• The company is strategically aligned with the National Reconstruction Fund, which promotes low-emission technologies.
• Tritium holds the number one market share for EV fast chargers in Australia and the U.S., indicating strong market demand.

Negative

• None.

BRISBANE, Australia, March 30, 2023 (GLOBE NEWSWIRE) -- Tritium DCFC Limited (Tritium) (Nasdaq: DCFC), a global leader in direct current (DC) fast chargers for electric vehicles (EVs), welcomed Australian Prime Minister Anthony Albanese to the company’s campus in Brisbane, Australia earlier today. During his visit, the Prime Minister toured Tritium's state-of-the-art test and R&D facilities, which feature the world's highest power-enabled electromagnetic compatibility (EMC) testing chamber, thermal testing chambers, impact testing, and more. The Prime Minister’s visit with Tritium comes on the heels of the introduction of the National Reconstruction Fund, which is part of the Government’s plan to rebuild Australia’s industrial base.

During his visit, the Prime Minister said, “This is my third visit to Tritium. Every time I come back, I hear about more revenue, more jobs being created, and more countries where Australia is exporting to. This is a great success story here and I congratulate everyone at Tritium for their achievements.”

The $15 billion National Reconstruction Fund will provide loans, guarantees, and equity to support projects that create secure and well-paid jobs, drive regional development, and build Australia’s sovereign capability. The National Reconstruction Fund will support existing and emerging industries to capture new opportunities, including from the transition to net zero emissions. Tritium’s business encompasses many of the Fund’s identified key priorities for investment, including renewables and low emission technologies, transport, and advanced manufacturing.

"We were delighted to host the Prime Minister at our Brisbane R&D centre and welcome the government’s interest in our world-leading technology, which is enabling the transition to a zero-emissions transport sector in 42 countries across the globe," said Jane Hunter, CEO of Tritium. "Tritium represents one part of the Australian industrial base of the future, diversifying the economy through an advanced technology global export and manufacturing business, which derives most of its revenue from the European and North American markets. The fact that our infrastructure technology also reduces dangerous emissions and builds a cleaner, greener planet, is the icing on the cake.”

Tritium is committed to driving innovation in the EV charging industry and builds the only fully liquid cooled and fully sealed fast charger on the market. The company holds number one market share for EV fast chargers in Australia and the United States and is among the top global manufacturers by market share.¹ Tritium is one of only two manufacturers with a footprint that spans North America, Europe, and the Asia Pacific region.

The visit by the Prime Minister comes in the same week as another high-profile government engagement Tritium hosted in the United States. White House Senior Advisor and Infrastructure Coordinator Mitch Landrieu visited Tritium's Lebanon, Tennessee factory to celebrate opening the order book for Tritium's fast charger for the National Electric Vehicle Infrastructure (NEVI) Formula Program.

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¹ Excluding China.

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, visit tritiumcharging.com

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
media@tritiumcharging.com

Investor Contact
Cary Segall
ir@tritiumcharging.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/baa05464-9375-487e-a8fb-ab8849f611f0

FAQ

What was the significance of the Prime Minister's visit to Tritium on March 30, 2023?

The visit emphasized government support for Tritium's innovative EV charging solutions and the company's alignment with national industrial goals.

How does Tritium benefit from the National Reconstruction Fund?

The $15 billion fund supports projects in low-emission technologies, which aligns with Tritium's business focus.

What is Tritium's market position in the EV charging sector?

Tritium holds the number one market share for EV fast chargers in both Australia and the United States.

In how many countries does Tritium operate?

Tritium exports its technology to 42 countries worldwide.

What type of technology does Tritium specialize in?

Tritium specializes in direct current (DC) fast chargers for electric vehicles.