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Tritium DCFC Limited (Nasdaq: DCFC) is a leading global developer and manufacturer of direct current (DC) fast chargers for electric vehicles (EVs). Founded in 2001, Tritium leverages its proprietary hardware and software to provide advanced, reliable, and user-friendly charging solutions. The company’s compact and robust chargers are designed to withstand harsh conditions and are engineered for easy installation and operation, making them a staple on Main Streets and in remote locations alike.
Tritium’s strategic initiatives focus on operational efficiency, profitability, and continuous innovation. The company recently consolidated its global manufacturing operations into its state-of-the-art facility in Lebanon, Tennessee, to streamline production and reduce costs. This move aligns with the Buy America Build America (BABA) compliance requirements, enabling Tritium to benefit from the $5 billion National Electric Vehicle Infrastructure (NEVI) Formula Program.
Investment in research and development remains a cornerstone for Tritium, with a strong team of over 200 experts working on the latest technology developments in Brisbane. The company currently supports a fleet of more than 14,500 chargers across 47 countries, demonstrating its global reach and commitment to quality.
Recent achievements include the deployment of chargers in Wales’ largest EV charging hub and California’s Port of Long Beach, enhancing Tritium’s reputation as a reliable partner for large-scale infrastructure projects. The collaboration with Lynkwell has introduced the Autocharge feature, offering seamless, user-friendly charging experiences for EV drivers.
Financially, Tritium is taking steps to improve margins by reducing selling, general, and administrative expenses. The company is also addressing compliance with Nasdaq’s listing standards to ensure continued trading on the exchange. These measures reflect Tritium’s dedication to creating shareholder value and maintaining a strong market presence.
With a focus on sustainability and innovation, Tritium continues to lead the way in the fast-evolving EV charging market, making significant contributions to the global shift towards clean energy transportation.
Tritium DCFC Limited has announced a new partnership with Osprey Charging Network to supply over 250 rapid DC fast chargers across 100 new locations in the UK. This expansion aims to support the UK's evolving need for electric vehicle charging, anticipating a need for up to 480,000 public charging points by 2030. Osprey's network is set to grow by over 50%, enhancing access to reliable charging infrastructure in car parks and major transit routes. CEO Jane Hunter highlighted the significant growth in EV adoption in the UK, with a 76% increase in sales from 2020 to 2021.
Tritium DCFC Limited (Nasdaq: DCFC) has announced the appointment of three key executives to support its global expansion. David Nicholl joins as Chief Sales Officer, bringing over 20 years of experience in electrification, previously with Schneider Electric and ABB. Keith Hutchison becomes Chief People Officer, known for his HR leadership at National Grid, and Michael R. Collins is appointed General Counsel and Company Secretary, with extensive legal experience in public companies. These additions aim to strengthen Tritium's position as a leader in fast charging technology for electric vehicles.
Tritium DCFC Limited (NASDAQ: DCFC) announced a multi-year contract with bp to supply nearly 1,000 DC fast chargers for bp’s EV charging network in the UK, Australia, and New Zealand. This partnership marks a significant strategic milestone. Tritium CEO Jane Hunter emphasized the importance of collaboration in accelerating the transition to clean transportation, aligning with bp's goal of achieving net zero emissions by 2050. The company's focus is on innovation in reliable EV charging technology to support global access.
Tritium DCFC Limited (NASDAQ: DCFC; DCFCW) announced participation in several upcoming conferences, including the 34th Annual ROTH Conference on March 14-15, 2022, in Dana Point, CA, and the Advanced Clean Transportation Expo from May 10-12, 2022, in Long Beach, CA. These events represent opportunities for management to engage with investors and showcase Tritium's innovative electric vehicle charging solutions. Presentations will be accessible on their website at tritiumcharging.com.
Tritium DCFC Limited (NASDAQ: DCFC) has appointed Glen Casey as its new Chief Operating Officer (COO). With over two decades of experience in the automotive and manufacturing sectors, Casey previously served as the Interim Director of Global Operations. His leadership is expected to enhance operational performance and streamline product distribution as Tritium expands globally. The company recently announced a new manufacturing facility in Lebanon, Tennessee, anticipated to create over 500 jobs and produce up to 30,000 DC fast chargers annually.
Tritium DCFC Limited (NASDAQ: DCFC, DCFCW) has partnered with Wise EV, a subsidiary of Wise Power, to develop a new national EV charging network. The initiative starts with 25 fast charging locations in Florida, leveraging Tritium's technology. Florida ranks second in EV sales and received significant funding for electric vehicle infrastructure under the $7.5 billion Infrastructure Investment & Jobs Act. Wise EV aims to establish metropolitan hubs and interstate charging spokes to create a coast-to-coast charging network by 2023.
Tritium has announced plans for a new DC fast charger manufacturing facility in Lebanon, Tennessee, following its recent listing on Nasdaq (ticker: DCFC). This facility will have up to six production lines, create more than 500 jobs over the next five years, and produce over 10,000 chargers annually, with peak capacity potentially reaching 30,000 units. The expansion aims to enhance EV charging infrastructure in the U.S. in light of the Infrastructure Investment and Jobs Act facilitating a nationwide network of EV chargers. Production is set to start in Q3 2022.
Tritium DCFC Limited has secured an agreement with Electromin to supply 200 DC fast chargers, including the RTM and PKM150 models, to enhance EV infrastructure in Saudi Arabia. This move aligns with the Kingdom's commitment to achieve net zero carbon emissions by 2060. Tritium aims to leverage this partnership to expand its market presence in the Middle East, facilitating the growth of electric vehicle adoption through improved charging accessibility. The partnership underscores Tritium's focus on innovation in charging technology.
Tritium DCFC Limited (Nasdaq: DCFC), a manufacturer of DC fast chargers for electric vehicles, recently celebrated its official listing on Nasdaq with a Closing Bell ceremony in Times Square, which took place on January 27, 2022. The company began trading on January 14, 2022, after merging with Decarbonization Plus Acquisition Corporation II. CEO Jane Hunter emphasized the importance of accessible charging infrastructure as the transport industry electrifies, noting Tritium's significant milestones, including over 3.6 million charging sessions initiated across 41 countries and the launch of the PKM150 charging system.
Tritium has successfully completed its business combination with Decarbonization Plus Acquisition Corporation II, enabling Tritium to become a public company. The ordinary shares and warrants will start trading on NASDAQ under the tickers DCFC and DCFCW from January 14, 2022. The capital raised is expected to support Tritium's growth in the EV charging sector, advancing operations and enhancing product offerings. Tritium's CEO Jane Hunter anticipates that this transition will accelerate electrification and contribute to reducing global emissions.