BRISBANE, Australia,
June 24, 2021 /PRNewswire/
-- Tritium Holdings Pty Ltd ("Tritium"), a global developer
and manufacturer of direct current ("DC") fast chargers for
electric vehicles ("EVs"), today announces the addition of former
U.S. Secretary of the Navy and
Ambassador to the Kingdom of Norway, Kenneth
Braithwaite, to the combined company's Board of Directors
following the closing of its business combination with
Decarbonization Plus Acquisition Corporation II ("DCRN") (NASDAQ:
DCRN, DCRNW).
Ambassador Braithwaite is an accomplished business executive,
diplomat, and retired U.S. Navy
one-star rear admiral. As the 77th U.S. Secretary of the
Navy, he was responsible for an 800,000
member global enterprise of both the United States Navy and
the United States Marine Corps
with an annual budget of over $200
billion. As the 31st U.S. Ambassador to
Norway, he sought and succeeded in
strengthening the bilateral relationship between the two strategic
partners after a four-year period without a U.S. Ambassador to the
country. Ambassador Braithwaite was unanimously confirmed by the
U.S. Senate for his posts as Secretary and Ambassador.
"First and foremost, we are honored that Ambassador Braithwaite
has accepted our invitation to join the board of Tritium following
its merger with DCRN," said Robert
Tichio, Partner and Managing Director at Riverstone Holdings
and Chair of the Board of DCRN. "The Ambassador is keenly familiar
with both the electrification economy – as Norway has the highest market penetration per
capita of electric vehicles of any country in the world – and the
commitments of governmental departments and agencies in
the United States and abroad to
use their influence to accelerate the EV transition."
Kenneth Braithwaite received a
Bachelor of Arts degree from the U.S. Naval
Academy and a Master of Arts degree from the University of
Pennsylvania. He was deployed abroad for Operation Iraqi
Freedom in support of naval operations to capture the Port of Umm
Qasr, for which he was awarded the Navy
& Marine Corps Commendation Medal with Combat Distinguishing
Device for Valor. He has also served in or led U.S. military
operations in Pakistan,
Afghanistan and Lebanon. He has been awarded the Legion of
Merit and the Defense Meritorious Service Medal and was recognized
with exceptional service to his country in being awarded the
Department of Defense Distinguished Service Medal.
"Ambassador Braithwaite has invaluable experience working with
governments and the private sector to find creative solutions to
tough problems," said Jane Hunter,
Chief Executive Officer of Tritium. "Today's announcement
demonstrates Tritium's commitment to assembling the highest-quality
Board of Directors comprised of seasoned leaders with deeply
relevant expertise to advance its position in DC fast charging, as
the adoption of electric vehicles continues to accelerate."
"I couldn't be more excited to serve on the board of such a
dynamic company and look forward to collaborating with my fellow
directors and the management team of Tritium," said Ambassador
Kenneth Braithwaite. "Tritium's
continued innovation and production in the charging hardware space
is critical to the future of sustainable transportation. Tritium's
market leadership in fast charging infrastructure will set the
stage for an exciting future for the combined company. This
company's combination of technology leadership and hard-earned
trust in the marketplace are assets that cannot be assembled
overnight. I look forward to supporting Jane's leadership of this
enterprise and working with my fellow board members to the benefit
of all shareholders."
Tritium previously announced a business combination with DCRN, a
special purpose acquisition company ("SPAC"), that will result in
Tritium becoming a publicly listed company.
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.
For more information, visit tritiumcharging.com
About Decarbonization Plus Acquisition Corporation II
Decarbonization Plus Acquisition Corporation II is a blank check
company formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with a target whose principal effort
is developing and advancing a platform that decarbonizes the most
carbon-intensive sectors. These include the energy and agriculture,
industrials, transportation and commercial and residential sectors.
DCRN is sponsored by an affiliate of Riverstone Holdings LLC and
represents a further expansion of Riverstone's 15-year franchise in
low-carbon investments, having established industry leading, scaled
companies with more than US$5 billion of equity invested in
renewables.
No Offer or Solicitation
This document does not constitute a solicitation of a proxy,
consent or authorization with respect to any securities or in
respect of the proposed transaction. This document also does not
constitute an offer to sell or exchange, or the solicitation of an
offer to buy or exchange, any securities, nor will there be any
sale of securities in any states or jurisdictions in which such
offer, solicitation, or sale or exchange would be unlawful prior to
registration or qualification under the securities laws of any such
jurisdiction. No offering of securities will be made except by
means of a prospectus meeting the requirements of section 10 of the
Securities Act of 1933, as amended, or an exemption therefrom.
Forward Looking Statements
Certain statements made in this document are "forward-looking
statements" with respect to the proposed transaction between DCRN,
Tritium and Tritium DCFC Limited, an Australian public company
limited by shares ("NewCo"), and including statements regarding the
benefits of the transaction, the anticipated timing of the
transaction, the services offered by Tritium and the markets in
which it operates, and NewCo's projected future results. These
forward-looking statements generally are identified by the words
"estimates," "projected," "expects," "anticipates," "forecasts,"
"plans," "intends," "believes," "seeks," "targets", "may," "will,"
"should," "would," "will be," "will continue," "will likely
result," "future," "propose," "strategy," "opportunity" and
variations of these words or similar expressions (or the negative
versions of such words or expressions) that predict or indicate
future events or trends or are not statements of historical matters
are intended to identify forward-looking statements. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on by
any investor as, guarantees, assurances, predictions or definitive
statements of fact or probability regarding future performance,
conditions or results, and involve a number of known and unknown
risks, uncertainties, assumptions and other important factors, many
of which are outside NewCo's, Tritium's or DCRN's control, that
could cause actual results or outcomes to differ materially from
those discussed in the forward-looking statements. Important
factors, among others, that may affect actual results or outcomes
include the inability to complete the business combination in a
timely manner or at all (including due to the failure to receive
required shareholder approvals, or the failure of other closing
conditions such as the satisfaction of the minimum trust account
amount following redemptions by DCRN's public stockholders, the
waiver or expiration of a Tritium shareholder's right to acquire
Tritium under the shareholder's deed in relation to Tritium and the
receipt of certain governmental and regulatory approvals), which
may adversely affect the price of DCRN's securities; the inability
of the business combination to be completed by DCRN's business
combination deadline and the potential failure to obtain an
extension of the business combination deadline if sought by DCRN;
the occurrence of any event, change or other circumstance that
could give rise to the termination of the transaction; the
inability to recognize the anticipated benefits of the proposed
business combination; the inability to obtain or maintain the
listing of NewCo's shares on a national exchange following the
proposed business combination; costs related to the proposed
business combination; the risk that the proposed business
combination disrupts current plans and operations, business
relationships or business generally as a result of the announcement
and consummation of the proposed business combination; NewCo's
ability to manage growth; NewCo's ability to execute its business
plan and meet its projections; potential disruption in NewCo's
employee retention as a result of the transaction; potential
litigation, governmental or regulatory proceedings, investigations
or inquiries involving NewCo, Tritium or DCRN, including in
relation to the transaction; changes in applicable laws or
regulations and general economic and market conditions impacting
demand for Tritium's or NewCo's products and services; and other
risks and uncertainties indicated from time to time in the proxy
statement/prospectus relating to the proposed business combination,
including those under "Risk Factors" therein, and in DCRN's other
filings with the SEC. Forward-looking statements speak only as of
the date they are made. Readers are cautioned not to put undue
reliance on forward-looking statement, and NewCo and DCRN assume no
obligation and do not undertake any obligation to update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by law.
Neither NewCo nor DCRN gives any assurance that either NewCo or
DCRN will achieve its expectations.
Additional Information about the Business Combination and
Where to Find It
In connection with the proposed business combination, DCRN and
NewCo, which will be the going-forward public company, intend to
file a registration statement on Form F-4 (the "Registration
Statement") with the SEC, which will include a proxy
statement/prospectus, and certain other related documents, to be
used at the meeting of stockholders to approve the proposed
business combination. INVESTORS AND SECURITY HOLDERS OF DCRN ARE
URGED TO READ THE PROXY STATEMENT/PROSPECTUS, ANY AMENDMENTS
THERETO AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE
SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TRITIUM,
DCRN, NEWCO AND THE BUSINESS COMBINATION. The proxy
statement/prospectus will be mailed to shareholders of DCRN as of a
record date to be established for voting on the proposed business
combination. Investors and security holders will also be able to
obtain copies of the Registration Statement and other documents
containing important information about each of the companies once
such documents are filed with the SEC, without charge, at the SEC's
web site at www.sec.gov.
Participants in Solicitation
DCRN and its directors and executive officers may be deemed
participants in the solicitation of proxies from DCRN's
stockholders with respect to the proposed business combination. A
list of the names of those directors and executive officers and a
description of their interests in DCRN is contained in DCRN's
filings with the SEC, including DCRN's Annual Report on Form 10-K
for the fiscal year ended December 31,
2020, which was filed with the SEC on March 31, 2021, and is available free of charge
at the SEC's web site at www.sec.gov. Additional information
regarding the interests of such participants will be set forth in
the Registration Statement for the proposed business combination
when available. NewCo and Tritium and their respective directors
and executive officers may also be deemed to be participants in the
solicitation of proxies from the shareholders of DCRN in connection
with the proposed business combination. A list of the names of such
directors and executive officers and information regarding their
interests in the business combination will be contained in the
Registration Statement for the proposed business combination when
available.
Contacts:
For Investors
Caldwell Bailey
ICR, Inc.
TritiumIR@icrinc.com
For Media
Dan McDermott
ICR, Inc.
TritiumPR@icrinc.com
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SOURCE Tritium