Tritium Rings Nasdaq Closing Bell in Honor of Listing

Rhea-AI Summary

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.

Positive

• Tritium has successfully launched the new PKM150 charging system, enhancing customer investment efficiency.
• The company achieved over 3.6 million high-power charging sessions, indicating strong product adoption.
• Tritium is well-positioned to benefit from a projected 20% CAGR in the global EV market through 2040.

Negative

• None.

Bell Ringing Ceremony Took Place Yesterday at 4:00 pm ET at Nasdaq MarketSite in New York’s Times Square

BRISBANE, Australia, Jan. 27, 2022 (GLOBE NEWSWIRE) -- Tritium DCFC Limited (“Tritium” or the “Company”) (Nasdaq: DCFC), a global developer and manufacturer of direct current ("DC") fast chargers for electric vehicles ("EVs"), today announced that Company management rang the Closing Bell at Nasdaq MarketSite in New York's Times Square yesterday afternoon at 4:00 p.m. ET, in honor of its listing on the exchange.

The Company began trading on Nasdaq on January 14, 2022, following the close of its business combination with Decarbonization Plus Acquisition Corporation II (“DCRN”).

“We are pleased to celebrate this important milestone for Tritium here at Nasdaq,” said Jane Hunter, Tritium’s Chief Executive Officer. “The transport industry is being electrified, which means it is more important than ever for EV owners to have access to rapid, reliable charging infrastructure. We are proud to provide this networked infrastructure to our customers. As a public company, we expect to continue to expand our product suite and global footprint, which has already enabled more than 3.6 million high-power charging sessions across 41 countries—delivering over 55 GWh of energy. I want to thank the Tritium team and Board of Directors, our investors, our partners at DCRN and our transaction advisors for their support and dedication through this process.”

Tritium was founded in 2001 by e-mobility pioneers Dr. David Finn, James Kennedy, and Dr. Paul Sernia. Drawing upon two decades of power electronics experience in the renewable energy field, Tritium has established itself as a global leader in the DC fast charging space for EVs. As a public company, Tritium is well positioned to benefit from accelerating and sustained long-term growth of the global EV market, which is projected to have a compound annual growth rate ("CAGR") of nearly 20% through 2040. Global EV charging hardware sales are projected to have an average CAGR of more than 25% each year over this period.

Most recently, the Company introduced the PKM150, a brand new charging system design, which enables Tritium’s shared power architecture, created to reduce customers’ upfront capital investment while optimizing power draw down from the grid at charging sites.

CEO Jane Hunter will continue to lead the Company. As part of the business combination, Robert Tichio, previously the Chairman of DCRN, joins Tritium’s Board of Directors as Chairman, along with continuing Directors Trevor St Baker and David Finn.

Mr. Tichio commented, “We are excited to be part of Tritium’s very impressive success story. Tritium’s robust growth and financial track record are a testament to the groundbreaking charging hardware that the Company has developed, as well as to its incredible team of over 450 employees across four continents. I look forward to our continued partnership on the Board, where we will leverage our combined experience to drive long-term shareholder value.”

A replay of the Closing Bell ceremony can be found at this link:
https://www.nasdaq.com/videos/tritium-dcfc-limited-rings-the-nasdaq-stock-market-closing-bell

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 Decarbonization Plus Acquisition Corporation II

Decarbonization Plus Acquisition Corporation II was a blank check company sponsored by an affiliate of Riverstone Holdings LLC and represented a further expansion of Riverstone’s 15-year franchise in low-carbon investments, having established industry leading, scaled companies with more than US$6 billion of equity invested in renewables.

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 1996. 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

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d365763d-ae0d-4c93-895e-46fc794ef384

FAQ

What is Tritium DCFC Limited's stock symbol?

Tritium DCFC Limited trades under the stock symbol DCFC on Nasdaq.

When did Tritium DCFC Limited start trading on Nasdaq?

Tritium DCFC Limited began trading on Nasdaq on January 14, 2022.

What significant event did Tritium have in January 2022?

Tritium held a Closing Bell ceremony on January 27, 2022, to celebrate its listing on Nasdaq.

What is the PKM150 charging system introduced by Tritium?

The PKM150 is a new charging system designed to optimize power use and reduce upfront costs for customers.

How many charging sessions has Tritium facilitated globally?

Tritium has facilitated over 3.6 million charging sessions across 41 countries.