Tritium DCFC Limited Ordinary Shares - DCFC STOCK NEWS

Tritium DCFC Limited (NASDAQ: DCFC) reported significant advancements in its latest business update. The company secured its largest order from bp, amounting to a historic milestone, and achieved a record monthly production output in December 2022. For the calendar year 2022, Tritium generated record sales orders of $195 million, reflecting a 38% increase from 2021, and projected revenues between $95 million and $102 million, a 23% to 32% rise. Looking ahead, Tritium anticipates revenue exceeding $200 million in 2023, driven by strong demand and operational efficiencies from its Tennessee factory. The company also reported $70 million in cash and cash equivalents.

Tritium DCFC Limited (Nasdaq: DCFC) has announced its largest order to date from bp, aimed at expanding EV charging infrastructure globally. This multi-year contract includes the provision of Tritium’s advanced 50kW RTM and 150kW PKM chargers for deployment in the US, UK, Europe, and Australia. The company will manufacture the chargers in its Tennessee and Brisbane facilities, supporting a production capacity of 30,000 units per year at full maturity. This order follows a previous agreement established in April 2022, aligning with bp's commitment to enhance its bp pulse EV charging network.

Tritium DCFC Limited has appointed Cary Segall as Vice President of Investor Relations. Segall brings over 20 years of experience in investor relations and business development, previously serving as head of investor relations at ADS-TEC Energy, Inc. He is tasked with enhancing engagement with Tritium's shareholders as demand for its fast chargers increases. Segall will be based in New York, supporting the company's investor base in the US, Europe, and APAC regions. Tritium continues to focus on innovation in DC fast charging technology.

EasyGo, Ireland's largest private car charging network, announced a multi-million Euro investment to deploy 200 fast DC chargers across Ireland. This initiative, in partnership with eir and Tritium, will replace telephone kiosks with state-of-the-art charging stations. The rollout will occur over the next six months, with contracts for 70 new locations across counties Offaly, Mayo, Cavan, Waterford, Kilkenny, Tipperary, and Monaghan already secured. The project aims to enhance EV adoption, reduce range anxiety, and support Ireland's Climate Action Plan by improving infrastructure in rural areas.

Tritium DCFC Limited (Nasdaq: DCFC) has partnered with DC-America to enhance the EV charging network across the U.S. Their collaboration will integrate Tritium's cutting-edge fast chargers with DC-America's adaptable charging systems, ensuring compliance with federal Buy America standards and eligibility for NEVI funding. The PKM150 charger, offering 150kW, will facilitate swift deployment and meet growing demands for EV infrastructure. With a projected $5 billion under the NEVI program, the partnership aims to install chargers along more than 75,000 miles of highways.

ChargeNet Stations has partnered with Diversified Restaurant Group to open its first ultra-fast EV charging stations at a Taco Bell in South San Francisco. This innovative technology integrates solar energy and energy storage with Tritium’s fast chargers, providing an average of 100 miles of charge in 20 minutes for approximately $20. ChargeNet aims to democratize EV charging in underserved communities across California, planning to electrify over 100 Taco Bell locations by year-end. The initiative supports local jobs and assists in the transition to sustainable energy.

Tritium DCFC Limited announced its role in developing a new EV highway in Western Australia, covering over 7,000 kilometers. This initiative is backed by a AUD$43.5 million investment from the Western Australian government, with a contract awarded to JET Charge to supply 98 fast chargers across 49 locations. Tritium will manufacture 75kW modular fast chargers at its Brisbane facility, with the first units expected to be installed in early 2023 and the full network operational by early 2024. This project aligns with government efforts to enhance EV infrastructure in remote areas.

Tritium DCFC Limited has secured a five-year Blanket Purchase Agreement with the U.S. General Services Administration, allowing federal agencies to purchase its industry-leading DC fast chargers for electric vehicles. This agreement supports the Biden Administration’s efforts to electrify its federal fleet, which currently comprises less than 1% EVs. Tritium has recently opened a manufacturing facility in Tennessee, enhancing its commitment to provide accessible and reliable charging solutions across North America. This announcement follows significant climate change investments included in the Inflation Reduction Act.

Tritium DCFC Limited reported a record fiscal year sales order of $203 million, a 232% increase year-over-year, and a record backlog of $149 million as demand surged globally. Revenue reached $86 million, up 53% year-over-year. The company opened a new 120,000 square foot factory in Tennessee to boost production capacity, targeting up to 30,000 units annually by 2023. Tritium also secured a $150 million lending facility and a $75 million equity facility to support expansion and inventory ramp-up while facing production delays that may shift $45 million in revenue into 2023.