Tritium and Electric Era Collaborate on Energy Storage System for Electric Vehicle Chargers

Rhea-AI Summary

Tritium and Electric Era are collaborating on a new energy storage system featuring direct current (DC) fast charging technology. This partnership aims to deploy resilient EV charging infrastructure, encouraging businesses to install more charging stations. The system can reduce power usage by 50% and operating costs by up to 30%. Tritium continues to expand globally, and their technology offers significant cost savings for operators. The agreement aligns with the upcoming U.S. Congress infrastructure bill allocating $7.5 billion for EV charging development.

Positive

• Partnership with Electric Era enhances deployment of resilient EV charging infrastructure.
• System can reduce energy costs by up to 30% and power usage by 50%.
• Tritium's technology can increase site capacity by 50% without extensive upgrades.
• Global expansion in key markets such as California, Maryland, New York, and Europe.

Negative

• None.

New battery and energy management system helps operators save money and improve resilience

TORRANCE, Calif.--(BUSINESS WIRE)-- As the U.S. Congress prepares to pass an infrastructure bill allocating $7.5 billion to electric vehicle (EV) charging, Tritium and Electric Era are partnering to deploy an energy storage system with direct current (DC) fast charging technology to provide an innovative way to deploy resilient charging infrastructure. Tritium has provided their RT175-S charger for integration with Electric Era’s PowerNode™ high-power stationary energy storage system to help site owners and operators achieve greater cost savings, more site resilience and accelerated build timelines.

“We are excited to work with Tritium because we believe equipping fast chargers with the best storage technologies will speed up the deployment of charging infrastructure, accelerate electric vehicle adoption, and ultimately reduce emissions,” said Quincy Lee, CEO of Electric Era. “Through our system we hope to incentivize more businesses to deploy electric vehicle chargers on their lots to help build a more robust infrastructure network.”

The Electric Era system prioritizes the use of stored energy within its battery management system to charge EVs, instead of defaulting to electricity solely from the grid. The system’s management platform uses a proprietary algorithm to monitor charging demand against the cost of grid and battery-stored energy, providing site owners and operators the opportunity to reduce power by 50 percent and operating costs by up to 30 percent through cost effective power delivery to EVs and a greater opportunity to leverage demand response events and peak shaving.

“By integrating Tritium DC charging solutions with innovations like Electric Era’s battery and management system, we can help increase uptime and help charging site owners increase their return on investment with higher energy output and lightning fast charging times,” said Mike Calise, President of Americas at Tritium. “Battery storage systems can increase site capacity by up to 50 percent without extensive site and grid upgrades, a win-win for both our customers and EV drivers.”

Tritium continues to expand globally with new high-powered installations in California, Maryland, and New York in the U.S. as well as Italy, Monaco, Australia, and other countries. The company’s small footprint, sealed enclosure, and liquid cooled DC fast charging technology can reduce total cost of ownership by up to 37 percent over 10 years compared to air-cooled systems. This can enable greater profitability for charge point operators and offers EV drivers an easy and convenient charging experience.

About Tritium

Founded in 2001, Tritium 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.

As announced on May 26, 2021, Tritium has entered into a definitive agreement for a business combination with Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN, DCRNW), a publicly traded special purpose acquisition company (SPAC), that would result in Tritium becoming a publicly listed company. Completion of the proposed transaction is subject to customary closing conditions and is expected to occur in the fourth quarter of 2021.

For more information, visit tritiumcharging.com.

About Electric Era

Electric Era designs and manufactures energy storage systems for fast charging stations. The company was founded in 2019 to enable the rapid electrification of transportation’s power supply to facilitate widespread electric vehicle adoption. Electric Era is rewriting the conventions of EV charging infrastructure with its leading energy storage technology that provides the high-power necessary for DC Fast Charge sites while offering the lowest price, smallest footprint, and longest cycle life

To learn more, visit electriceratechnologies.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210902005186/en/

Tritium Media Contact:

Sarah Malpeli

408-806-9626 ext 6840

sarah@technicacommunications.com

Tritium Investors Contact

Caldwell Bailey

ICR, Inc.

TritiumIR@icrinc.com

Electric Era Media Contact

Ryan Schleifman

(732) 887-7704

ryan.schleifman@ElectricEraTechnologies.com

Twitter: https://twitter.com/electriceratech

LinkedIn: https://www.linkedin.com/company/electric-era

Source: Tritium

FAQ

What is Tritium's recent partnership with Electric Era about?

Tritium has partnered with Electric Era to deploy a new energy storage system with direct current fast charging technology to improve EV charging infrastructure.

How much can Tritium's energy management system reduce operating costs?

The system can reduce operating costs by up to 30% for site owners.

What benefits does Tritium's DC fast charging technology offer?

It helps increase uptime, boosts return on investment, and enhances energy output for charging site operators.

What is the significance of the U.S. infrastructure bill for Tritium?

The U.S. Congress is preparing to pass a bill allocating $7.5 billion to electric vehicle charging, which supports Tritium's business strategy.

What is the expected timeline for Tritium's business combination with Decarbonization Plus Acquisition Corporation II?

The transaction is expected to complete in the fourth quarter of 2021.