Tritium and EVCS to Deploy Additional 300 New Electric Vehicle Fast Chargers in California, Oregon, and Washington

Rhea-AI Summary

Tritium DCFC Limited announces a partnership with EVCS to supply 300 additional 50kW RTM fast chargers for EVCS's network across California, Oregon, and Washington. This order increases Tritium's contribution to over 800 chargers, supporting California's goal of zero-emission vehicle sales by 2035. EVCS plans to expand its network to 1,500 chargers by the end of 2023, enhancing public charging accessibility and simplifying pricing. Tritium's CEO emphasizes the importance of equitable EV charging infrastructure as demand surges.

Positive

• New order for 300 50kW fast chargers, increasing Tritium's total contribution to EVCS network to over 800.
• Partnership supports growth in EV charging infrastructure amid rising demand due to California's environmental legislation.
• EVCS aims to expand its network to 1,500 chargers by 2023, enhancing public charging options.

Negative

• None.

Tritium will provide 300 more 50kW variants of the Company’s award-winning RTM fast charger for EVCS’s network buildout

TORRANCE, Calif., July 28, 2022 (GLOBE NEWSWIRE) -- Tritium DCFC Limited (“Tritium” or the “Company”) (Nasdaq: DCFC), a global leader in direct current (“DC”) fast chargers for electric vehicles (“EVs”), is partnering with EVCS, one of the largest EV fast-charging network operators on the West Coast, to deploy 300 new chargers across California, Oregon, and Washington. The order consists of 300 50kW Tritium RTM fast chargers, making the total Tritium DC fast charger contribution to the EVCS network over 800. With more states expected to follow California’s legislation mandating 100 percent of new vehicles sold generate zero emissions by 2035, partnerships like this are critical to ensuring public fast charging can meet the increased demand driven by the expected mass consumer adoption of EVs in the coming years.

EVCS aims to enhance the accessibility of public fast charging both by simplifying complex pricing and increasing location coverage. With plans to reach 1,500 chargers by the end of 2023, EVCS’s carbon neutral network and unlimited subscription charging plan will provide an increasing number of public charging options and significant savings to EV drivers.

“EVCS is excited to expand its partnership with Tritium to install more than 300 Tritium DC fast chargers on the West Coast by mid-2023,” said Gustavo Occhiuzzo, CEO and founder of EVCS. “Tritium’s versatile catalog of fast charging stations has allowed EVCS to rapidly become one of the fastest-growing owner-operators of DC fast chargers on the West Coast, home to almost 50% of all EVs in the U.S.”

In November 2021, Tritium and EVCS announced an agreement to add over 500 DC fast chargers to EVCS’s network, many of which have already been installed as a part of the upgrade of the West Coast Electric Highway. Building on this initial investment, the new fast chargers will be installed in high-traffic areas, including retail locations and transit centers, underserved communities where access to chargers is limited, and near highways and tourist centers. The collaboration significantly contributes to EVCS’s network growth, with plans to extend service to more than 35 new cities across California, Oregon, and Washington as well as increase charger density in existing EVCS communities.

“EV charging infrastructure is growing at an unprecedented rate in the US, and it’s critical that this rollout provides drivers with equitable access to public fast charging,” said Tritium CEO Jane Hunter. “Through our work with EVCS, we’re proud to help democratize the EV charging experience to provide greater accessibility to all current and future EV drivers. We’re excited to be part of this technology revolution and to support the growth of our long-term customer and partner, EVCS.”

Tritium recently unveiled a new project with the Motor Fuel Group Forecourt Network that would deploy over 100 DC fast chargers in the United Kingdom and overall support the country in the movement toward a cleaner environment. The Company also announced its largest global manufacturing facility will open in Tennessee, gaining the attention of President Joe Biden, and has achieved several significant partnerships with industry leaders, including BP, Shell, Wise EV, and Osprey. Earlier this month, EVCS announced a new raise of $68.8 million that will go toward helping the company expand its charging network services throughout the West Coast and ultimately assist EVCS in achieving its goal to double its network footprint by 2023.

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 EVCS:
EVCS was founded in 2018 and has quickly become one of the largest and fastest-growing electric vehicle charging networks on the West Coast. Powered by 100% renewable energy, EVCS is disrupting the mobility power industry through a turn-key approach that utilizes public and private funding sources to encourage the installation of fast-charging locations. EVCS has secured over $50M in government funding and engaged nearly 150 partner sites to build and grow its net zero carbon network. EVCS’ mission is to cut emissions while simultaneously improving air quality by enabling the rapid adoption of zero-emission electric vehicles. For more information, visit www.evcs.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

EVCS Media Contact
Kelli Dobbins
EVCS@slingstone.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/f51a01fc-28c2-47d2-9ab3-e4c9dd94129f

FAQ

What is Tritium's partnership with EVCS about?

Tritium is partnering with EVCS to supply 300 new 50kW RTM fast chargers for deployment across the West Coast.

How many chargers will Tritium provide to the EVCS network?

Tritium will provide an additional 300 chargers, bringing the total to over 800.

What are the goals of EVCS in terms of charger expansion?

EVCS aims to expand its charger network to 1,500 by the end of 2023.

What impact does California's legislation have on Tritium's business?

California's legislation mandating zero-emission vehicles by 2035 increases demand for EV charging infrastructure, benefiting Tritium.

What is the significance of Tritium's fast chargers?

Tritium's fast chargers are essential for supporting the growing demand for public EV charging across the West Coast.