Tritium, DC-America Join Forces to Provide Scalable, American-Made EV Charging Solution

Rhea-AI Summary

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.

Positive

• Partnership with DC-America enhances EV charging infrastructure.
• Eligible for federal NEVI funding, supporting expansion.
• PKM150 charger designed for cost-effective operations and scalability.
• Compliance with federal Buy America requirements through local manufacturing.

Negative

• None.

Partnership will facilitate the development of a federally funded coast-to-coast EV charging network

TORRANCE, Calif., Oct. 25, 2022 (GLOBE NEWSWIRE) -- Tritium DCFC Limited (Tritium) (Nasdaq: DCFC), a global leader in direct current (DC) fast chargers for electric vehicles (EVs), today announced its partnership with EV supply equipment manufacturer DC-America. DC-America is now offering its versatile charging station infrastructure equipped with Tritium’s industry-leading fast chargers, creating an efficient and effective EV charging system. This solution is expected to be both compliant with federal Buy America standards and eligible for National Electric Vehicle Infrastructure (NEVI) Formula Program funding.

"Tritium and DC-America share the common goal of electrifying transportation nationwide through an accessible charging network,” said Tritium CEO Jane Hunter. “We’re thrilled to partner with an industry innovator on a charging system that’s proudly made in America. We look forward to seeing DC-America stations equipped with Tritium chargers servicing drivers across the country.”

DC-America's modular, skid-based charging systems allow for rapid deployment, with minimal onsite disruption and a simplified permitting process. With the ability to upgrade and expand over time, the company’s systems are suited for highway corridor charging locations and provide the flexibility that today’s rapidly growing EV charging sites demand. DC-America is now offering customers its system equipped with Tritium’s uniquely modular and scalable 150kW DC fast charger, the PKM150.

"Designed for cost-effective operations and infrastructure deployment, the PKM150 is the ideal charger to pair with DC-America's innovative system,” Hunter continued. “Together, our companies’ products create an EV charging solution that is unmatched in its efficiency, reliability, and scalability.”

DC-America's system and Tritium’s chargers are anticipated to comply with the U.S. Federal Highway Administration's (FWHA) proposed Buy America requirements following the opening of Tritium’s global manufacturing facility in Lebanon, Tennessee in August. The combined DC-America and Tritium solution is expected to qualify for all 52 state and territory NEVI programs, which are funded by the Infrastructure Investment and Jobs Act, also known as the Bipartisan Infrastructure Law. The NEVI program will allocate $5 billion over five years toward developing a convenient, reliable, and affordable EV charger network nationwide.

"When deciding which chargers to pair with our NEVI-compliant system, Tritium was a natural choice,” said DC-America President Nathan Bowen. “With a reputation that speaks for itself, Tritium is an ideal partner in our efforts to deliver accessible and convenient charging infrastructure across the country.”

The Biden-Harris administration announced its approval of all 50 states, D.C., and Puerto Rico’s Electric Vehicle Infrastructure Deployment Plans, totaling more than $1.5 billion in NEVI Formula funding in September. According to the U.S. Joint Office of Energy and Transportation, this investment will help to build EV chargers across more than 75,000 miles of highway nationwide.

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 DC-America

DC-America designs, manufactures and installs turn-key single point connection charging stations. DC-America offers our customers a forward-thinking solution that enables the flexibility to grow and keep pace with the ever-growing EV infrastructure needs of America. DC-America proudly employs EVITP trained technicians to build our solutions that will fuel the deployment of American EV Infrastructure.

Forward Looking Statements

This press release includes “forward-looking statements.” 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.

Media Contact
Jack Ulrich
media@tritium.com

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

A photo accompanying this announcement is available at: https://www.globenewswire.com/NewsRoom/AttachmentNg/eefff505-eb33-4217-a14f-f9a1ce81a6a5

FAQ

What is the partnership between Tritium and DC-America about?

Tritium's partnership with DC-America aims to develop an efficient EV charging network by integrating Tritium's fast chargers with DC-America's modular charging systems.

How is Tritium's charger eligible for federal funding?

Tritium's charging systems comply with federal Buy America standards and qualify for NEVI program funding due to their manufacturing in the U.S.

What financial support does the NEVI program provide?

The NEVI program allocates $5 billion over five years to develop a reliable EV charger network across the U.S.

What does the PKM150 charger offer for EV charging?

The PKM150 charger delivers 150kW of power, designed for efficient operations and scalability in various charging locations.

How many states are involved in the NEVI funding initiative?

All 50 states, D.C., and Puerto Rico are involved, totaling over $1.5 billion in NEVI Formula funding for EV infrastructure.