Tritium and JET Charge to Supply Fast Chargers for Australia’s Longest EV Highway

Rhea-AI Summary

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.

Positive

• AUD$43.5 million investment by the Western Australian government for EV infrastructure.
• Tritium to manufacture all fast chargers at its Brisbane facility, utilizing a 5,000-unit production capacity.
• Tritium's involvement could enhance its market position in the rapidly growing EV charging sector.

Negative

• Dependence on government contracts for revenue may pose a risk if future grants are reduced.
• Potential delays in project completion could impact operational timelines and revenue generation.

BRISBANE, Australia, Sept. 28, 2022 (GLOBE NEWSWIRE) -- Tritium DCFC Limited (Tritium), a global developer and manufacturer of direct current (DC) fast charging technology for electric vehicles (EVs), today announced that the company will provide fast chargers for a new EV highway that will span more than 7,000 kilometers (4,350 miles) across the state of Western Australia.

The project is part of a AUD$43.5 million investment by the Western Australian government, focused on expanding access to EV infrastructure across the state. To launch the investment, the Western Australian government, through its energy utilities Synergy and Horizon Power, awarded a contract to JET Charge, which will supply hardware for 98 fast chargers across 49 locations. Tritium will supply its award-winning 75kW modular fast charger for this unprecedented charging infrastructure for some of Horizon Power’s regional sites.

“It’s fantastic to see government policies supporting EV uptake in Australia. Western Australia is a state with vast unpopulated distances, and governments have a role to play supporting highway electrification in rural and remote areas where site utilisation may not be profitable for private sector operators,” said Tritium CEO Jane Hunter. “We’re excited to be working with our partners at JET Charge on this fantastic project to electrify the Western Australian highways and we look forward to continuing to provide the fast charger hardware, software, and services needed to support rapid EV adoption here in Australia and around the world.”

Tritium will manufacture all chargers for the project in its Brisbane factory, which has an annual production capacity of approximately 5,000 units.

“For almost a decade, JET Charge has been a leader in Australia’s transition to electric transportation, and we’re honoured to have been selected by the Western Australian government for this momentous project,” said JET Charge CEO Tim Washington. “We're excited to partner with Tritium, which makes some of the most advanced chargers in the world right here in Australia. With help from partners like them, we will continue to increase access to charging technology across the country, giving every Australian the opportunity to drive electric.”

The first charging stations supplied by Tritium are expected to be installed early next year, and the full network of 98 chargers is anticipated to be fully operational by early 2024.

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

About JET Charge

JET Charge is Australia’s leading electric vehicle charging infrastructure business, on a mission to accelerate the uptake of EVs by breaking down the barriers to EV charging. They are charging partners for many of Australia’s largest vehicle manufacturers, leading corporates, and government agencies. JET Charge specialises in EV charging design, engineering, hardware supply, installation, and technology.

To learn more, visit https://jetcharge.com.au/ or email media@jetcharge.com.au

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. Tritium’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, Tritium’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 Tritium 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 Tritium’s control and are difficult to predict. Tritium cautions not to place undue reliance upon any forward-looking statements, including projections, which speak only as of the date made. Tritium 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.

Media Contact
Jack Ulrich
media@tritium.com.au

Investor Contact
Caldwell Bailey
ICR, Inc.
TritiumIR@icrinc.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1f5c1ca4-369b-473a-bc42-bce1d13a2d25

FAQ

What is the purpose of Tritium's involvement in the Western Australian EV highway project?

Tritium is providing fast chargers for a new EV highway in Western Australia, enhancing EV infrastructure.

How much funding is allocated for the EV highway in Western Australia?

The project is backed by a AUD$43.5 million investment from the Western Australian government.

When are Tritium's charging stations expected to be operational?

The first stations are expected to be installed by early 2023, with the full network operational by early 2024.

What type of chargers will Tritium supply for the EV highway?

Tritium will supply its 75kW modular fast chargers for the EV highway project.

Where will Tritium manufacture the fast chargers for the project?

All chargers will be manufactured at Tritium's facility in Brisbane.