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BP through BP Pulse is Tritium’s largest customer thus far. They will be installing Tritium DC fast chargers at all those travel centers.
By 2030, bp aims for around half its annual investment to go into these transition growth engines; with around half of its anticipated cumulative $55-65 billion transition growth engine investment going into convenience, bioenergy and EV charging.
Tritium on Top!!!
$40 mil in new financing, record breaking year to date sales and increased future guidance of revenues and a TIME magazine feature article!!! Is that the trifecta it will take to move this stock? 20 years ago, if I would have came across a TIME magazine article like this and then went to look at the stock for the company that was featured, I would realize that I am late to the party. Not this time!!! It’s as if TIME magazine has “breaking news” in regard to Tritium. Nice to confirm the things we already know such as the fact that many Tritium chargers are being sold under other company names, such as Chargepoint, BP/Hertz, Shell, EnelX etc…
To be honest, the TIME article put all my doubts about wether or not this company is legit to rest. 30% of US market share and rising!!! Should be good for $1.75-$2B of those NEVI dollars.
Tritium Announces Record Preliminary Year-To-Date Results and Increases CY2023 Guidance
Source: GlobeNewswire Inc.
Tritium DCFC Limited (“Tritium” or the “Company”) (Nasdaq: DCFC), a global leader in direct current (“DC”) fast chargers for electric vehicles (“EVs”), today provided an update on the business.
Preliminary Results – January 1, 2023 - April 30, 2023
Achieved record revenue of $57 million between January 1, 2023 and April 30, 2023, a year-over-year growth rate of 237% over the $17 million achieved in the same timeframe the previous year.
The Company has built an order backlog valued at approximately $153 million at April 30, 2023, driven by continued strong orders in the calendar year-to-date period, compared to $120 million for the same timeframe in the previous year. Strength in the backlog coupled with calendar year-to-date revenues is leading the Company to increase its revenue guidance to a range of $210 million to $225 million.
Sales orders for the period between January 1, 2023 through April 30, 2023 amounted to $49 million, compared to $64 million for the same timeframe in the previous year. The Company continues to see indications of strong order growth in the balance of the calendar year as customer indications for 2024 deployments translate into purchases.
Capital Investment
The Company secured a $40 million capital investment, comprised of $35 million from Sunset Power Pty Ltd as trustee of the St Baker Family Trust (“St Baker”) and $5 million from O-Corp EV LLC (“O-Corp”). These funds will be used to fund working capital to continue to scale production volumes, further product development, and grow service operations around the world.
https://www.yahoo.com/finance/news/every-fifth-car-sold-worldwide-104500689.html
Chargers will be needed worldwide with all the EV’s predicted to be sold. It’s nice that Tritium has a worldwide footprint.
Word is spreading!!!
https://cleantechnica.com/2023/04/03/tritium-is-now-offering-nevi-compliant-ev-charging-stations/
https://www.kioskmarketplace.com/news/tritium-offers-ev-charging-stations-under-federal-infrastructure-program/
https://www.electrive.com/2023/04/03/tritium-launches-new-charging-station-in-the-usa/
https://electrek.co/2023/03/30/tritium-debuts-us-made-nevi-compliant-dc-fast-chargers/
Summary of This Final Rule
Applicability
This final rule establishes applicability of these regulations to projects funded under the NEVI Formula Program and projects for the construction of publicly accessible EV chargers under certain statutory authorities, including any EV charging infrastructure project funded with Federal funds that is treated as a project on a Federal-aid highway, except where explicit limited applicability is noted in the regulatory text.
Procurement Process
This final rule establishes a requirement for there to be public transparency regarding the process of how the price will be determined and set for EV charging.
Number of Charging Ports
This final rule establishes a requirement for the number of ports at a charging station. Any time charging stations are installed there is a required minimum of 4 ports, notwithstanding the type of port (Direct Current Fast Charger (DCFC) or alternating current (AC) Level 2 or a combination of DCFC and AC Level 2). Additionally, in all instances when a DCFC charging station is installed along and designed to serve users of designated AFCs, there must be at least four network-connected DCFC charging ports.
Connector Types
This final rule establishes a requirement that each DCFC port must have a Combined Charging System (CCS) Type 1 connectors. This final rule also allows DCFC charging ports to have other non-proprietary connectors so long as each DCFC charging port is capable of charging a CCS-compliant vehicle.
Power Level
This final rule establishes a requirement that each DCFC located along and designed to serve users of designated AFCs must simultaneously deliver up to 150kW, as requested by the EV, and that each AC Level 2 port be capable of providing at least 6 kW per port simultaneously across all AC ports with an option to allow the customer to consent to accept a lower power level to allow power sharing or to participate in smart charge management programs. This final rule also clarifies that power sharing is permissible above the minimum 150-kW per-port requirement for DCFCs.
Availability
This final rule establishes a requirement that each charging station along designated AFCs and intended to serve the users of designated AFCs must be available 24 hours per day, 7 days per week and charging stations not along AFCs and not intended to serve the users of designated AFCs must be available for use and accessible to the public at least as frequently as the business operating hours of the site host.
Payment Methods
This final rule establishes a requirement that charging stations must provide a contactless payment method that accepts major credit and debit cards and accept payment through either an automated toll-free phone number or a short message/messaging system (commonly abbreviated as SMS). Payment methods must be accessible to persons with disabilities, not require a membership, not affect the power flow to vehicles, and provide access for those that are limited English proficient.
Equipment Certification
This final rule establishes a requirement that all equipment is appropriately certified and that all AC Level 2 chargers are ENERGY STAR certified.
Security
This final rule establishes a requirement that States are required to implement appropriate physical strategies for the location of the charging station and cybersecurity strategies that protect consumer data and protect against the risk of harm to, or disruption of, charging infrastructure and the grid.
Long-Term Stewardship
This final rule establishes a requirement that chargers are maintained in compliance with this regulation for a minimum of 5 years.
Qualified Technician
This final rule establishes a requirement that the workforce installing, maintaining, and operating the chargers has appropriate licenses, certifications, and training. This final rule also requires that all electricians installing, operating, or maintaining EV supply equipment have a certification from the Electric Vehicle Infrastructure Training Program (EVITP) or graduation or a continuing education certificate from a registered apprenticeship program. Additionally, for projects that require more than one electrician, at least one electrician must be an enrolled in an electrical registered apprenticeship program. This final rule also clarifies that non-electrical work must be performed in accordance with State requirements.
Customer Service
This final rule establishes a requirement that EV charging customers must have a mechanism to report issues with charging infrastructure. These reporting mechanisms must provide multilingual services and be compliant with the American with Disabilities Act of 1990.
Customer Data Privacy
This final rule establishes a requirement that charging station operators only collect, process, and retain personal information strictly necessary to provide the charging
service to a customer and take reasonable measures to safeguard customer data.
Use of Program Income
This final rule establishes a requirement that the use of income derived from the real property shall be used for Title 23, U.S.C., eligible projects and that the use of income derived from the operation of the EV charging facility shall be used for debt services, return on investment for private financing, improvement or maintenance of the EV charging station, payments under public-private partnerships, or other Title 23 purposes.
Interoperability of EV Charging Infrastructure
This final rule establishes certain interoperability requirements for charger-to-EV communication, charger-to-charger-network communication, and charging-network-to-charging network communication, as well as a requirement for chargers to be designed to securely switch charging network providers without any changes to hardware.
Traffic Control Devices or On-Premise Signs Acquired, Installed, or Operated
This final rule establishes compliance with the MUTCD and 23 CFR part 750 for on-premise signs.
Data Submittal
This final rule establishes quarterly and annual data submittal for all projects funded under the NEVI Formula Program and projects for the construction of publicly accessible EV chargers under certain statutory authorities, including any EV charging infrastructure project funded with Federal funds that is treated as a project on a Federal-aid highway. This final rule also establishes one-time data submittal requirements for both the NEVI Formula Program projects and grants awarded under 23 U.S.C. 151(f) for projects that are for EV charging stations located along and designed to serve the users of designated AFCs. This final rule also establishes a requirement applicable only to the NEVI Formula Program projects that a Community Engagement Outcomes Report must be included in the State EV Infrastructure Deployment Plan.
Charging Network Connectivity of EV Charging Infrastructure
This final rule establishes charging network connectivity requirements for charger-to-charger-network communication, charging-network-to-charging-network communication, and charging-network-to-grid-communication, as well as a requirement that chargers must remain functional if communication with the charging network is temporarily disrupted.
Information on Publicly Available EV Charging Infrastructure Locations, Pricing, Real Time Availability, and Accessibility Through Mapping
This final rule establishes requirements for information on publicly available EV charging infrastructure locations, pricing, real time availability, and accessibility through mapping. The regulations specify that these specific data fields that must be available, free of charge, to third party software developers. The regulation also specifies how the price for EV charging must be displayed and stipulates that the price must be the real-time price and any other fees in addition to the price for electricity must be clearly displayed and explained. This final rule also establishes that each charging port must have an average annual uptime greater than 97 perc
Australian Prime Minister Anthony Albanese Visits Tritium
Source: GlobeNewswire Inc.
Tritium DCFC Limited (Tritium) (Nasdaq: DCFC), a global leader in direct current (DC) fast chargers for electric vehicles (EVs), welcomed Australian Prime Minister Anthony Albanese to the company’s campus in Brisbane, Australia earlier today. During his visit, the Prime Minister toured Tritium's state-of-the-art test and R&D facilities, which feature the world's highest power-enabled electromagnetic compatibility (EMC) testing chamber, thermal testing chambers, impact testing, and more. The Prime Minister’s visit with Tritium comes on the heels of the introduction of the National Reconstruction Fund, which is part of the Government’s plan to rebuild Australia’s industrial base.
During his visit, the Prime Minister said, “This is my third visit to Tritium. Every time I come back, I hear about more revenue, more jobs being created, and more countries where Australia is exporting to. This is a great success story here and I congratulate everyone at Tritium for their achievements.”
The $15 billion National Reconstruction Fund will provide loans, guarantees, and equity to support projects that create secure and well-paid jobs, drive regional development, and build Australia’s sovereign capability. The National Reconstruction Fund will support existing and emerging industries to capture new opportunities, including from the transition to net zero emissions. Tritium’s business encompasses many of the Fund’s identified key priorities for investment, including renewables and low emission technologies, transport, and advanced manufacturing.
"We were delighted to host the Prime Minister at our Brisbane R&D centre and welcome the government’s interest in our world-leading technology, which is enabling the transition to a zero-emissions transport sector in 42 countries across the globe," said Jane Hunter, CEO of Tritium. "Tritium represents one part of the Australian industrial base of the future, diversifying the economy through an advanced technology global export and manufacturing business, which derives most of its revenue from the European and North American markets. The fact that our infrastructure technology also reduces dangerous emissions and builds a cleaner, greener planet, is the icing on the cake.”
Tritium is committed to driving innovation in the EV charging industry and builds the only fully liquid cooled and fully sealed fast charger on the market. The company holds number one market share for EV fast chargers in Australia and the United States and is among the top global manufacturers by market share.1 Tritium is one of only two manufacturers with a footprint that spans North America, Europe, and the Asia Pacific region.
The visit by the Prime Minister comes in the same week as another high-profile government engagement Tritium hosted in the United States. White House Senior Advisor and Infrastructure Coordinator Mitch Landrieu visited Tritium's Lebanon, Tennessee factory to celebrate opening the order book for Tritium's fast charger for the National Electric Vehicle Infrastructure (NEVI) Formula Program.
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Australian $15B NRF. Some of this will be coming Tritium’s way.
American NEVI $2.5B for ‘22-‘23. A portion of this will be coming Tritium’s way.
The markets are supposed to be forward looking. I’m looking forward to seeing how much of these Billions are coming to Tritium’s balance sheet in the next few years.
Spell check got me in my previous message.
How many other companies literally have two counties (US & Australia) throwing $$$Billions$$$ at them!!!!
Good to see this move so much on the earnings report. I wonder when the company that EVgo buys their chargers from (Tritium) will come out of the shadows and start to be recognized.
It would help if people would wake up to the fact that when it comes to NEVI compliant chargers, Tritium is pretty much the only game in town besides Tesla superchargers. It would also probably help once more people know what NEVI is. In the mean time, I’ve been able to position myself with a pretty good average price for my shares. The waiting is almost over….I hope.
I agree!!! Volvo trucks were just at Tritiums Brisbane Australia HQ the other day!! It's been really frustrating watching this go down. I'm here for the long haul and thinking it's going to pay off.
Yes, and those shares are not being sold as of this moment.
The shelf shares are NOT being sold right now and.....
https://twitter.com/TritiumCharging/status/1635642554774433793?cxt=HHwWgsC9jZqP_LItAAAA
I hear ya, but with Tritium's annual sales, they could get a better valuation on Shark Tank.
Starting to think I've been taken for a ride on this one. I've been trying to leave a simple message with investor relations as to why the share price has continued to decline in the face of good news, from the company and from the govt. and I keep getting rejected stating that my message may contain spam. I've simplified my message many times, started completely over multiple times, same thing...my message may contain spam. So I tried to call their Americas office. +1 310 961 5299 Operator says they are closed today so I left a message. Called back and tried to talk to administration, said all operators were busy and sent me to voice mail rather quickly. Can't believe they would be closed today, no holiday or anything.
You can't tell me that there has been enough selling pressure the past two trading sessions to warrant this kind of drop. No way are there more people selling at a loss than there are scooping up cheap shares. Even with the shelf offering, those shares are not in the supply of shares yet.
Someone on the yahoo message board said that Tritium was goin to. E releasing some kind of financial report on March 6th. Does anyone here know anything about this?
I wonder when She'll is going to put their order in a reserve their spot in line?
Who manufactures the actual stations that charge point installs in their networks?
Biden strikes EV deal with Tesla, others for widespread charging station access
https://www.yahoo.com/finance/news/biden-strikes-ev-deal-with-tesla-others-for-widespread-charging-station-access-100044167.html
Quite a few Tritium customers named in the article. BP, Hertz, EVgo!! This could end up being a great week.
Big corporations are cutting jobs, while Tritium is adding!!! That tells me something about the future direction of Tritium.
You can click on each state to see their respective NEVI deployment plans that they have submitted.
https://www.fhwa.dot.gov/environment/nevi/ev_deployment_plans/
It will take a little more time for the infrastructure money to start to affect Tritium, but it's coming. A forward looking market should start to realize this pretty soon I would think.
https://www.fhwa.dot.gov/bipartisan-infrastructure-law/nevi_formula_program.cfm
This sounds like very good news for Tritium
https://www.autoblog.com/2023/02/02/electric-vehicle-dc-fast-charger-national-network-study/?guccounter=1&guce_referrer=aHR0cHM6Ly9zdG9ja3R3aXRzLmNvbS8&guce_referrer_sig=AQAAALFDxp_3C_raYm-OTNM6gbaiqzRf-mB6uRyQjTfqVMqgfFHAtV7IScVOkWH_gDkCw9_IQ0az-z5lGbnSczF3Oor1Sxbwv9ISxVjXDdMdO8Uk6BwLH3bPB65RrUPay5GhN0zh8rDkYClJf4k4uMvT04iW3HbJWLHcApJSfWCWbml-
I can't help but to see their profit margins increasing. The demand is there and increasing by the day. The supply is limited to what any of the companies making chargers can produce right now. High demand + limited supply = higher prices.
Chart looks like there is a gap created on Dec 22 @ $1.35-1.36 that I going to fill today. I sure hope Tritium still plans on having their investors day today. After the gap fills, we will be free to run up.
Realistically, I think it could get back to the $6 range by the end of the year.