Tritium gets $40m capital to boost EV charger production

Tritium EV chargers against city backdrop (production)
RTM75 fast-charging stations by Brisbane technology company Tritium

Australian EV fast charging developer Tritium has received a capital investment of US$40 million to continue scale production and grow its service operations around the world.

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“We continue to achieve the milestones on our roadmap in pursuit of becoming the number one fast charger manufacturer on the planet. With the production capacity offered through our new Tennessee factory and long-standing Brisbane factory, we believe we’re well on our way to achieving that goal,” Tritium CEO Jane Hunter said.

“Through this capital raise, we’ll continue to grow our revenue and competitive position, fund our increased production capacity, and support the launch of our next generation ultrafast charger.”

Tritium says the capital will help boost its monthly production volumes and deliver the healthy backlog of orders from the company’s diversified blue-chip customer base.

Tritium’s global business in the Americas, Europe, and the Asia Pacific has been fuelled by tremendous growth in EV uptake supported by government incentives and carbon reduction targets, as well as high demand from new and existing charging customers worldwide.

“The strength of Tritium’s global market position, high product demand, differentiated technology, and fast scaling production presented a very compelling case to these investors,” Tritium chief strategy officer David Toomey said.

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“We particularly appreciate the continued long-term support of the St Baker family, who have been investors in Tritium since 2013.”

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