Over 100 New Tritium DC Fast Chargers to Be Added to the Motor Fuel Group Forecourt Network in the United Kingdom

Rhea-AI Summary

Tritium DCFC Limited has entered into a partnership with Motor Fuel Group (MFG), the UK’s largest independent forecourt operator, to supply over 100 150kW DC fast chargers for EVs. This collaboration will electrify MFG's network across more than 900 sites, facilitating rapid charging that adds up to 100 miles of range in just 10 minutes. MFG is investing £400 million in EV infrastructure, planning to deploy 3,000+ chargers by 2030, reinforcing their commitment to sustainable transport and supporting local communities.

Positive

• Partnership with MFG to supply over 100 fast chargers, potentially boosting sales.
• MFG's investment of £400 million in EV strategy indicates strong market potential.
• Plans to install 3,000+ chargers by 2030 may enhance Tritium's market presence.

Negative

• None.

Tritium will supply the company’s PKM150 fast chargers to electrify MFG’s forecourt network in the United Kingdom

BRISBANE, Australia, June 30, 2022 (GLOBE NEWSWIRE) -- Tritium DCFC Limited (“Tritium” or the “Company”) (Nasdaq: DCFC), a global developer and manufacturer of direct current (“DC”) fast chargers for electric vehicles (“EVs”) is expected to supply more than 100 rapid chargers to Motor Fuel Group (“MFG”), the largest independent forecourt operator in the UK.

With over 900 sites offering customers a growing dual-fuel strategy, a versatile valeting offer, and a convenient retail and ‘food to go’ portfolio, MFG is dedicated to keeping UK motorists on the move, supporting local communities, and enabling a transition to a cleaner environment.

MFG forecourts will be the place for high speed, convenient, ultra-rapid top-up charging, equipped with Tritium’s 150kW DC fast chargers, which can add 100 miles (160 kilometers) of range to an EV in approximately 10 minutes, and are designed for more cost-effective operations and infrastructure deployment.

“We’re proud to partner with Motor Fuel Group to support their parallel goals of electrifying transportation and enabling a greener and cleaner future by providing customers with readily available rapid chargers across their forecourt network in the UK,” said Tritium CEO Jane Hunter. “This announcement highlights MFG’s recognition that the world is changing, and they are leading the charge towards electric vehicles and low carbon fuels in line with the UK government’s ambitions.”

To show their commitment to a cleaner, greener, and more sustainable environment, MFG is investing £400m in their EV strategy, funded entirely by cash generated through their existing business. This investment will support their electrification goals to provide a reliable and practical service for EV customers, by installing 3,000+ ultra-rapid 150kW and 350kW chargers across 500+ sites in the UK by 2030.

MFG is also offering landlords and developers a no-cost opportunity to have guaranteed rental income, improved on-site facilities, and increased site footfall and dwell time through their EV Power brand, which requires no subscription and allows customers to pay for their charge using contactless payment methods or through their app.

"We are delighted to be working with Tritium as we push to be the biggest ultra-rapid charging hub operator in the UK,” said Ed Chadwick Till, Motor Fuel Group Director, EV. “Tritium’s industry leading technology, their exciting product roadmap, and best-in-class customer care give us confidence in a long-term partnership that will help MFG in its mission to make EV charging simple, reliable, and stress-free."

About Tritium

Founded in 2001, Tritium (NASDAQ: DCFC; DCFCW) 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

About MFG

Motor Fuel Group (MFG) is the UK’s largest independent forecourt operator. It has over 900 sites offering customers a growing dual-fuel strategy, a leading valeting offer, convenient retail and ‘food to go’ portfolio, online delivery lockers and business break areas/facilities, MFG is reported to be the fifth largest retailer by number of stores in the country.

MFG is dedicated to keeping UK motorists on the move and supporting our local communities.

More information on MFG can be found at motorfuelgroup.com

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. 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.

Tritium Media Contact
Jack Ulrich
media@tritium.com.au

Tritium Investors Contact
Caldwell Bailey
ICR, Inc.
TritiumIR@icrinc.com

MFG Media Contact
Ed Chadwick Till
ed.chadwicktill@motorfuelgroup.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2ecc9a85-eca7-4cf3-8d27-395ce1bd7d02

FAQ

How many fast chargers will Tritium supply to MFG?

Tritium will supply over 100 fast chargers to MFG.

What is the charging capacity of Tritium's chargers?

Tritium's chargers have a capacity of 150kW, adding 100 miles of range in about 10 minutes.

What total investment is MFG making in EV infrastructure?

MFG is investing £400 million in their EV strategy.

By when does MFG plan to install 3,000+ chargers?

MFG aims to install 3,000+ chargers across 500+ sites by 2030.

What are the stock symbols for Tritium?

Tritium's stock symbols are DCFC and DCFCW.