Tritium Secures EV Fast Charger Purchasing Commitment from Electromin Corporation
January 28 2022 - 6:00AM
Tritium DCFC Limited (“Tritium”) (Nasdaq: DCFC), a global developer
and manufacturer of direct current (“DC”) fast chargers for
electric vehicles (“EVs”), has entered into an agreement with
Electromin, a Saudi-owned company and a leading provider of
e-mobility solutions across the Middle East and Africa. This
agreement comes on the heels of a pledge by the Kingdom of Saudi
Arabia to have net zero carbon emissions by 2060 and increase the
uptake of electric vehicles.
“The world is embracing electric transportation, and Electromin
is committed to providing greater access to fast charging
infrastructure for EVs across our regions of business,” Kalyana
Sivagnanam, CEO of Electromin. “As we increase this access, it’s
critical that we partner with a technology provider with hardware
and software to help our business grow sustainably and
cost-effectively – we found that partner in Tritium.”
Through the agreement, Electromin plans to purchase 200 of
Tritium’s DC fast chargers. As Electromin builds their network,
this deal provides them with access to Tritium’s award-winning RTM
and newly released PKM150 fast chargers, designed for more
cost-effective operations and infrastructure deployment.
“We see a massive opportunity to help countries and regions
build the charging infrastructure needed to support the deluge of
EVs anticipated to come to market. Tritium’s investment in
differentiated and world-class hardware and software development
puts the company in a unique position to enable businesses and
governments to develop charging networks in all corners of the
world,” said Tritium CEO Jane Hunter. “We’re determined to expand
our global reach and market share, and deeper expansion into Middle
Eastern markets will greatly help us achieve this goal. Through
this new partnership with Electromin, we’ve established a strong
foothold to better grow our business.”
About Tritium
Founded in 2001, Tritium (NASDAQ: DCFC; DCFCW) 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 Electromin
Electromin is a technology led e-mobility solutions provider
providing a complete turnkey solution from in depth consultation
through to ongoing network operation and maintenance. Electromin
works with private individuals, businesses and governments across
the Middle East and is creating a public charging network that
offers a seamless charging experience for EV drivers.
Forward Looking Statements
This press release includes “forward-looking statements” within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1996. The Company’s actual
results may differ from its expectations, estimates and projections
and consequently, you should not rely on these forward-looking
statements as predictions of future events. Words such as “expect,”
“estimate,” “project,” “budget,” “forecast,” “anticipate,”
“intend,” “plan,” “may,” “will,” “could,” “should,” “believe,”
“predict,” “potential,” “continue,” “aim” and similar expressions
are intended to identify such forward-looking statements. These
forward-looking statements include, without limitation, the
Company’s expectations, hopes, beliefs, intentions or strategies
for the future. These forward-looking statements involve
significant risks and uncertainties that could cause the actual
results to differ materially from the expected results. You should
carefully consider the risks and uncertainties described in the
documents filed by the Company from time to time with the U.S.
Securities and Exchange Commission. These filings identify and
address other important risks and uncertainties that could cause
actual events and results to differ materially from those contained
in the forward-looking statements. Most of these factors are
outside the Company’s control and are difficult to predict. The
Company cautions not to place undue reliance upon any
forward-looking statements, including projections, which speak only
as of the date made. The Company does not undertake or accept any
obligation to release publicly any updates or revisions to any
forward-looking statements to reflect any change in its
expectations or any change in events, conditions or circumstances
on which any such statement is based.
Tritium Media ContactJack
Ulrichmedia@tritium.com.au
Tritium Investor ContactCaldwell BaileyICR,
Inc.TritiumIR@icrinc.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/863bd6ed-3e9f-466e-a1c8-b3d89867206e
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