Martin Gafinowitz, left, and David Finn.
Gilbarco Veeder-Root has taken a minority investment in Australian DC EV charging infrastructure solutions specialists Tritium.
Brisbane-based Tritium has become a major global supplier with installations in 26 countries since launching its first DC fast charger in 2014.
“Gilbarco Veeder-Root’s interest in Tritium further validates Tritium’s capabilities and technology expertise in the EV space,” Tritium chief executive officer and founder David Finn says. “This investment also sends a strong message to the industry about the future of EV charging in the retail fuelling and convenience market—it’s real, it’s happening and Tritium is at the forefront globally.”
Gilbarco Veeder-Root, a Fortive Corporation business, will sell all Tritium solutions, including Veefil-PK high-power charging (HPC) systems, which are capable of fully charging an EV in five to 10 minutes.
These high-power charging (HPC) systems have liquid-cooled technology and a significantly smaller footprint than most similar ones.
Fortive senior vice-president Martin Gafinowitz says the investment provides early and judicious entry into a market with a growing need for rapid charging, which is one of the top barriers to EV purchase.
The investment will enable Tritium to accelerate a number of strategic activities, including operational expansion in Europe and the US.
Global sales are predicted to increase by a third in 2018 compared with the previous year.
Other activities include expanding production capacity to meet increased demand for the company’s Veefil-PK High Power Charging System up to 475kW, and new product research and development.
Tritium will also look to expand into India, China and the wider Asian region in the medium term, following its success in Europe and the US.
Tritium has announced a number of customers across the globe in 2018, including a deal to supply its Veefil-PK HPC systems for the Ionity network – a joint venture of the BMW Group, Daimler AG, Ford, and the Volkswagen Group, including Audi and Porsche.
Ionity plans to roll out 400 sites across Europe. Tritium’s deal is to supply high-power chargers to 100 of those.
The company also recently signed a deal to supply at least 40 Veefil RT-50kW DC fast chargers for the NRMA’s charging network rollout across New South Wales and a separate deal to supply 12 Veefil-RTs to NKM Mobilitas in Hungary.
