Filed by Tritium DCFC Limited pursuant to
Rule 425 under the Securities Act of 1933
and deemed filed pursuant to Rule 14a-12
under the Securities Exchange Act of 1934
Subject Company: Decarbonization Plus Acquisition
Commission File No.: 001-40000
Gilbarco Veeder-Root Announces Waiver of Option to Acquire
BRISBANE, Australia / GREENSBORO, NC, August 12,
2021 – Tritium Holdings Pty Ltd (“Tritium”), a global developer
and manufacturer of direct current (“DC”) fast chargers for
electric vehicles (“EVs”), and Gilbarco Veeder-Root, a Vontier
Corporation (NYSE: VNT) company, today announced the companies have
entered into an agreement for Gilbarco Veeder-Root to waive its
call option right to acquire Tritium.
“Since making our minority investment in Tritium in 2018, we
continue to believe it is important to evolve our business
portfolio to address progressive customer needs in a market where a
growing need for rapid charging is one of the top barriers to EV
purchase” said Aaron Saak, President of Gilbarco Veeder-Root. “To
this end, we support the agreement for Tritium to become a publicly
listed company through a proposed business combination among
Tritium, Tritium DCFC Limited and Decarbonization Plus Acquisition
Corporation II, a special purpose acquisition company.”
“Gilbarco Veeder-Root has been a key partner for Tritium in our
company’s growth and maturation,” said Tritium CEO Jane Hunter.
“It’s critical that companies planning for growth have experienced
partners in place to amplify and guide success,” said Robert
Tichio, Partner and Managing Director at Riverstone Holdings LLC
and Chairman of the board of directors of Decarbonization Plus
Acquisition Corporation II (“DCRN”). “Tritium has had a strong
partner and shareholder in Gilbarco Veeder-Root, setting it up for
Gilbarco Veeder-Root has been a strategic investor in Tritium and
purchased an exclusive option to acquire Tritium in September 2018.
On August 1, 2021, the companies reached an agreement to waive
the option and, prior to the business combination among Tritium,
Tritium DCFC Limited (“NewCo”) and DCRN (the “Business
Combination”), Gilbarco Veeder-Root will execute a lock-up agreement on the same terms as
the other existing Tritium shareholders.
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 Gilbarco Veeder-Root
Gilbarco Veeder-Root is the worldwide technology leader for retail
and commercial fueling operations, offering the broadest range of
integrated solutions from the forecourt to the convenience store
and head office. For over 150 years, Gilbarco has earned the trust
of its customers by providing long-term partnership, uncompromising
support, and proven reliability. Major product lines include fuel
dispensers, pump media, point-of-sale systems, payment
systems, tank gauges and fleet management systems.