Tritium designs and manufactures proprietary hardware and software to create advanced DC fast chargers for electric vehicles. The company has deployed more than 5,250 charging stations, delivered over 3.6 million high-power charging sessions across 41 countries, and supplied over 55 GWh of energy. Its intellectual property includes a fully liquid-cooled, IP65-rated charger technology and compact, robust chargers engineered for harsh conditions. Tritium is pursuing global expansion and has entered into a proposed business combination with Decarbonization Plus Acquisition Corporation II (DCRN) to become a publicly listed company. To bolster liquidity ahead of that combination, Tritium announced a new US$90 million debt facility to refinance prior financings and support working capital. Management says the facility will support product development, increasing sales, and the company’s global expansion plans. Tritium designs and manufactures proprietary DC fast chargers and associated software, emphasizing compact, robust hardware for harsh conditions. Its IP includes fully liquid-cooled, IP65-rated chargers intended to reduce total cost of ownership. The company has deployed more than 4,500 charging stations and delivered over 2.7 million high‑power charging sessions across 41 countries, supplying over 55 GWh of energy. Tritium plans to use proceeds from the AUD$40 million private placement to scale global operations—production, sales, and administrative support—and to satisfy its existing order backlog. The company has entered into a definitive agreement for a business combination with Decarbonization Plus Acquisition Corporation II that would take Tritium public, with completion expected in the fourth quarter of 2021. Founded in Brisbane in 2001, Tritium states it is focused on continuous innovation to support customers worldwide. Tritium designs and manufactures DC fast-charging solutions for electric vehicles, including the Veefil-RT 50kW charger and liquid-cooled Veefil-PK high-power systems. Established in 2001, it launched its first DC fast charger in 2014 and has installations in 26 countries. The Veefil-PK systems use a liquid-cooled architecture and a smaller footprint to reduce wear and extend charger lifetime; Tritium states these HPCs can fully charge an EV in five-to-ten minutes. Its products are Buy America compliant and the company opened a manufacturing, R&D and sales facility in Torrance, California in 2017; headquarters and main manufacturing remain in Australia and it also operates a facility in Amsterdam to serve Europe. Tritium holds around 50% of the Norwegian market and about 15% of the wider European market for 50kW rapid chargers and lists customers including Charge.net.nz, EDF Lumins, Fortum, Grønn Kontakt, IONITY, Proterra and Stromnetz. Recent commercial activity includes a 2018 deal to supply Veefil-PK 350kW chargers for the IONITY network, indicating continued expansion into high-power charging deployments. Tritium is a technology-driven developer and manufacturer of electric vehicle (EV) fast chargers led by CEO David Finn. The company’s range of chargers is operational across 22 countries. It plans to use the new funding to facilitate global expansion and to launch three new products: the Veefil-PK ultra-fast charger (up to 475kW), the Veefil-WP DC charger for workplaces, fleets and high-density living, and the Veefil-ME 12kW bi-directional DC home charger. Tritium has a history of recent financings, including an AUD$5m equity raise in March 2017 and an AUD$2.5m investment from the Queensland Government’s Business Development Fund. The company is headquartered in Brisbane, Australia.

Total raised

$128M

Funding rounds

4

Latest round

Debt Financing

Latest activity

Dec 2021