Tritium Supports Electrification of U.S. Federal Transportation Operations, Will Supply DC Fast Chargers Through GSA

Rhea-AI Summary

Tritium DCFC Limited has secured a five-year Blanket Purchase Agreement with the U.S. General Services Administration, allowing federal agencies to purchase its industry-leading DC fast chargers for electric vehicles. This agreement supports the Biden Administration’s efforts to electrify its federal fleet, which currently comprises less than 1% EVs. Tritium has recently opened a manufacturing facility in Tennessee, enhancing its commitment to provide accessible and reliable charging solutions across North America. This announcement follows significant climate change investments included in the Inflation Reduction Act.

Positive

• Secured a five-year Blanket Purchase Agreement with the GSA for DC fast chargers.
• Supports the Biden Administration's initiative to electrify the federal vehicle fleet.
• Opened a manufacturing facility in Lebanon, Tennessee, enhancing production capabilities.
• Aligned with the $370 billion climate change investments from the Inflation Reduction Act.

Negative

• None.

Tritium DC fast chargers are available for purchase to federal agencies through the GSA’s five-year Blanket Purchase Agreement

TORRANCE, Calif., Sept. 27, 2022 (GLOBE NEWSWIRE) -- Tritium DCFC Limited (Tritium) (Nasdaq: DCFC), a global leader in direct current (DC) fast chargers for electric vehicles (EVs), today announced that its fast chargers are available for purchase by government entities through the U.S. General Services Administration’s (GSA) five-year Blanket Purchase Agreement (BPA) dedicated to EV-related equipment.  

U.S. federal agencies can now purchase Tritium’s industry-leading fast chargers via any company partners that are current Multiple Award Schedule (MAS) holders and have been awarded a BPA contract. This announcement is the latest example of Tritium’s commitment to electrifying North America through its state-of-the-art DC fast chargers. It also comes on the heels of the opening of the company's first U.S. manufacturing facility in Lebanon, Tennessee.

“The future of transportation across the United States is electric, and the federal government is leading by example,” said Tritium CEO Jane Hunter. “After opening one of the country’s only DC fast charger manufacturing facilities in August, Tritium is proud to support the federal government’s efforts to electrify its transportation operations.”

As the Biden Administration continues its pursuit of electrifying the entire federal fleet, this BPA simplifies the process of obtaining EV-related equipment and ancillary services, including Tritium’s DC fast chargers. According to the GSA’s most recent inventory, the federal government’s more than 650,000 vehicles collectively traveled over 4.2 million miles last year. Also in 2021, the Biden Administration issued an executive order designed to accelerate the electrification of the U.S. government fleet, of which EVs currently comprise less than 1%.

“Tritium is pleased to see the United States government’s commitment to building accessible, reliable fast charging services to support an electric federal fleet,” Hunter continued. “By simplifying the EV charger buying process and encouraging collaboration across the public and private sectors, the BPA is helping to rapidly electrify transportation across America.”

This announcement follows the August passage of the Inflation Reduction Act (IRA), which provides $370 billion in climate change investments to help reduce carbon emissions by 40% by 2030. The legislation includes significant tax breaks for businesses that purchase new medium- and heavy-duty EVs and new chargers.

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.

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.

No Offer
This press release is for informational purposes only and it does not represent an offer to sell or the solicitation of an offer to buy any of the Company’s securities. There will be no sale of the Company’s securities in any jurisdiction in which one would be unlawful.

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/410c593e-e5c3-490c-aff3-0eb653d2b214

FAQ

What is Tritium's recent announcement regarding federal agencies?

Tritium announced that its DC fast chargers are available for purchase by federal agencies through a five-year Blanket Purchase Agreement with the GSA.

What does the GSA's Blanket Purchase Agreement entail for Tritium?

The agreement simplifies the buying process for federal agencies to procure Tritium's fast chargers and related EV equipment.

How does this agreement support the Biden Administration's electric vehicle goals?

This agreement aids the electrification of the federal fleet, which currently has less than 1% EVs, as outlined by the Biden Administration's initiatives.

What recent developments has Tritium made in manufacturing?

Tritium recently opened a manufacturing facility in Lebanon, Tennessee, to enhance its production of DC fast chargers.

How does the Inflation Reduction Act relate to Tritium's business?

The Inflation Reduction Act includes significant investments aimed at reducing carbon emissions, which supports Tritium’s mission in the electric vehicle market.

What is the stock symbol for Tritium?

Tritium is traded on the Nasdaq under the stock symbols DCFC and DCFCW.