Demand is particularly robust in North America, helped by
commitments towards the electrification of transport by US
President Joe Biden and the emergence of EV ride-sharing by outfits
such as Revel, which offer on-demand e-bikes, e-scooters and Teslas.
“If you consider the size of orders that are being spoken about by
customers like Shell and BP and Siemens, where they’re talking
about orders in the thousands, you can kind of see how that will
dwarf our existing fleet very quickly,” Ms Hunter told The
Australian Financial Review.
The company has so far deployed more than 4500 charging stations
across 41 countries and is vying for the leading position in
several mature EV markets such as Norway and California.
The Cigna raising – which follows a similar $45 million debt
issue with the same firm in June last year – will further boost the
financial firepower as it seeks to boost manufacturing of its
systems in major overseas markets, including an expansion of its US
factory in Los Angeles and the establishment of a new European
Tritium’s deal in May with a special purpose acquisition company
already ensured its balance sheet would be boosted to as much as
$390 million once the deal goes through, scheduled for the
December quarter. Ms Hunter said the deal and listing preparations
were tracking to plan, with the exact timing within the December
quarter yet to be determined.
The company is also backed by investors including energy
entrepreneur Trevor St Baker, coal investor Brian Flannery and
engineering firm Varley Group.
Ms Hunter said the emergence of the electric boat market was
exciting for Tritium, which has been selling into high-end European locations such as
yacht clubs in Monaco and Portofino and the Venetian canals, but
also has a potential customer closer to home in New Zealand.
In Australia, Tritium has picked up sales thanks to the federal
government’s Future Fuels Fund, locking in sales of more than 300
systems to Evie Networks and potential sales for Ampol’s proposed
network, Ms Hunter said. She added that the start of imports of
electric utes and four-wheel drives would open up another
opportunity for Tritium especially in rural regions.
Certain statements made in this document are “forward-looking
statements” with respect to the transaction between Decarbonization
Plus Acquisition Corporation II, a Delaware corporation (“DCRN”),
Tritium Holdings Pty Ltd, an Australian proprietary company limited
by shares (“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