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Tritium Announces Strategic Partnership With Solcon Industries to Increase Access to Electric Vehicle Fast Charging Infrastructure in Israel and Palestine
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Positive)
Tags
partnership
Rhea-AI Summary
Tritium, a leader in DC fast chargers for electric vehicles, has partnered with Solcon Industries to enhance EV charging infrastructure in Israel and Palestine. This collaboration aims to address the inadequate EV charging access in the region, supporting the growing demand amidst Israel's commitment to achieving zero carbon emissions by 2050. Notably, Tritium's technology is uniquely designed to perform well under extreme conditions. The partnership follows Tritium's planned business combination with Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN, DCRNW), expected to complete in Q4 2021.
Positive
Strategic partnership with Solcon Industries enhances EV charging infrastructure in Israel and Palestine.
Supports Israel's government goal of zero carbon emissions by 2050, promoting electric vehicle adoption.
Tritium's technology is uniquely built to thrive in extreme environmental conditions.
Negative
None.
BRISBANE, Australia--(BUSINESS WIRE)--
Tritium, a global developer and manufacturer of direct current (“DC”) fast chargers for electric vehicles (“EVs”), today announced a strategic partnership with Solcon Industries, a dynamic power electronics company with more than 40 years of experience developing and manufacturing industrial electronic systems. With the partnership, Solcon Industries becomes an official channel partner and service provider of Tritium’s range of fast charging technology to help meet the growing demand for EV charging infrastructure in Israel and Palestine.
“The world is transitioning to electric transportation, yet drivers in Israel and Palestinian haven’t had adequate access to efficient, fast electric vehicle charging,” said Solcon Industries Vice President of Sales Izzi Eicher. “The people of this region want to drive electric vehicles, and we’re thrilled to be working with Tritium to make that a reality. With their advanced fast charging technology, we believe we’ll be providing drivers with the confidence that they can recharge quickly, efficiently and reliably every time they see a Tritium charger.”
The partnership comes on the heels of a July 24Israeli Ministry of Foreign Affairs announcement of the country’s plans to reach zero carbon emissions by 2050, calling for a 96% reduction in greenhouse gas emissions in transportation and an 85% reduction in the electricity sector.
“We’re very pleased to be working with Solcon to supply fast public charging infrastructure to drivers in Israel and Palestine,” said Ravi Vaidya, Tritium Vice President of Sales for APAC & Middle East. “As governments increase their commitments to fighting climate change and reducing carbon emissions, it’s critical that drivers have the confidence to adopt electric transportation. Tritium is proud to support the global transition to e-mobility through reliable, innovative technology that gets drivers back on the road in minutes, not hours.”
As the only liquid cooled, IP65-rated fast charging technology provider, Tritium designs its products in Australia to thrive in a variety of challenging environmental conditions, from extreme heat to sub-zero temperatures. This unique approach allows the company’s products to be better protected against dust and moisture, and to perform reliably with the smallest footprint.
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.
Solcon Industries Ltd (www.solcon.com) is a power electronics company that has designed, developed, and manufactured industrial electronic systems installed in more than 76 countries worldwide.
As a global industry leader in power Electronics and motor control, Solcon provides solutions in the toughest environments across all industries.
Solcon’s field-developed design criteria ensure long-term product reliability and provide future-proof innovative solutions. This approach has allowed the company to serve Global partners for more than 42 years.
What is the significance of Tritium's partnership with Solcon Industries for DCRN, DCRNW stocks?
Tritium's partnership with Solcon Industries enhances EV charging infrastructure in Israel and Palestine, supporting electric vehicle adoption and aligning with government carbon emission reduction goals, potentially boosting investor confidence in DCRN and DCRNW.
How does Tritium's technology impact its stock performance, specifically DCRN?
Tritium's advanced DC fast charging technology, designed for extreme conditions, positions it as a reliable provider in growing EV markets, which may positively influence stock performance for DCRN.
When is Tritium's business combination with Decarbonization Plus Acquisition Corporation II expected to complete?
The business combination is expected to complete in the fourth quarter of 2021, subject to customary closing conditions.
How does Tritium's partnership affect the EV market in Israel and Palestine?
The partnership aims to improve access to fast EV charging, addressing current inadequacies and fostering an increase in electric vehicle adoption in the region.
