Home > Boards > US Listed > Alternative Energy > Tritium DCFC Limited (DCFC)
Followed By 11
Posts 2688
Boards Moderated 11
Alias Born 12/13/2014

Friday, January 14, 2022 9:53:18 AM

Re: None

Post# of 68
Tritium Announces Completion of Business Combination With Decarbonization Plus Acquisition Corporation II
January 13, 2022

- Deal, together with anticipated additional funding, expected to allow Tritium to further its growth in providing leading fast charging hardware and software to EV charging customers.
- The combined company’s ordinary shares and warrants are expected to commence trading on NASDAQ tomorrow under the ticker symbols “DCFC” and “DCFCW,” respectively.

BRISBANE, Australia & NEW YORK--(BUSINESS WIRE)--Tritium, a global leader in direct current (“DC”) fast chargers for electric vehicles (“EVs”), today announced it has completed its previously announced business combination with Decarbonization Plus Acquisition Corporation II (“DCRN”) to take Tritium DCFC Limited (“Tritium”) public. Tritium’s ordinary shares and warrants are expected to commence trading tomorrow, January 14, 2022, on the NASDAQ, under the ticker symbols “DCFC” and “DCFCW,” respectively.

“We are extremely pleased to see the completion of this business combination and to support Jane and the Tritium team as they continue to execute on their strategic growth plan as a public company”

“Our transaction with DCRN is transformative for the acceleration of electrification,” said Tritium’s CEO, Jane Hunter. “We expect the capital raised through the transaction, together with anticipated additional funding, to support Tritium’s business operations and to help strengthen our products and services to our customers, and continue to advance the e-mobility industry. The goal in our industry is to reduce global emissions and this transaction will support our mission to electrify transportation.”

As a public company, Tritium’s position as a global leader in DC fast chargers for EVs is further strengthened. Jane Hunter, Chief Executive Officer, will continue to lead Tritium’s operations, alongside co-founders James Kennedy (Chief Technology Officer) and Dr. David Finn (Chief Vision Officer), and executives David Toomey (Chief Strategy Officer) and Michael Hipwood (Chief Financial Officer). As part of the business combination, Robert Tichio, previously the Chairman of the board of directors of DCRN, will join Tritium’s board of directors as Chairman.

“We are extremely pleased to see the completion of this business combination and to support Jane and the Tritium team as they continue to execute on their strategic growth plan as a public company,” said Robert Tichio, incoming Chairman of the board of Tritium.

EV Charging Sector Expected to Experience Significant Growth to 2040 and Beyond

With global EV sales expected to have surpassed 6.3 million last year and with global passenger EV sales expected to grow at a compound annual growth rate (CAGR) of 17% through 2040, the world’s transportation is rapidly electrifying. Sufficient public charging infrastructure will be critical to enabling this transition to e-mobility, and fast charging provides the greatest value across the EV charging value chain. Through fast charging, drivers can get back on the road within minutes instead of hours, and charge point operators are able to set prices appropriately for this premium experience.

Transaction Overview

Tritium expects the capital raised through the transaction, together with its anticipated additional funding, to help fund its growth as a technology market leader in the EV charging space, expand to three global manufacturing facilities, grow global sales and service operations teams, maintain its capital needs, and other corporate uses.

Tritium’s board of directors will be comprised of seven members, five of whom are “independent directors” under the applicable rules of the Securities and Exchange Commission (“SEC”) and NASDAQ. The Board of Directors will be led by incoming Chairman, Robert Tichio.


Latham & Watkins LLP (US), Corrs Chambers Westgarth (Australia), and the Australian Partnership of Ernst & Young advised Tritium during the transaction and DCRN was advised by Vinson & Elkins L.L.P. (US) and Clifford Chance LLP (Australia). Credit Suisse served as the exclusive financial advisor to a consortium of certain Tritium Holdings Pty Ltd shareholders in connection with the business combination, and JPMorgan and Citigroup served as financial advisors to DCRN.

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 Decarbonization Plus Acquisition Corporation II

Decarbonization Plus Acquisition Corporation II was a blank check company 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$6 billion of equity invested in renewables.
Recent DCFC News

FEATURED American Green, Inc. ™ (OTC:ERBB) Officially Acquires Vendweb - Supplier of its AGX Facial Recognition and Over- 21 Age Smart Vending Machine May 17, 2022 7:30 AM

Kona Gold Beverage, Inc's Ooh La Lemin Lemonades to be Sold in Winn-Dixie Stores KGKG May 17, 2022 9:00 AM

HealthLynked Announces Acquisition of Aesthetic Enhancements, LLC, and Reports First Quarter 2022 Results Including a Significant Reduction in Net Loss HLYK May 17, 2022 8:00 AM

Progressive Care Reports First Quarter 2022 Financial Results Highlighted by 5% Growth in Revenue to $10.1 Million RXMD May 17, 2022 7:28 AM

OTC: ILUS, ILUS International (Ilustrato Pictures International Inc) Summarizes Its First Quarter of 2022 Disclosure ILUS May 16, 2022 4:00 PM


Integrated Ventures Reports Q3/2022 Financial Results With Total Revenues Of $1,431,819 And Gross Profit Of $307,492.00. INTV May 16, 2022 9:00 AM

Splash Beverage Group Reports Record First Quarter 2022 Financial Results. Revenues Increase 86% Year over Year with $4 Million in Gross Sales as Company Signs 12 New or Expanded Distribution Agreements SBEV May 16, 2022 8:02 AM

RENAVOTIO, INC. (RIII) Provides Shareholder updates RIII May 13, 2022 3:38 PM

Demand Brands and Truleaf discussing the future of DB's retail footprint DMAN May 13, 2022 3:11 PM

OMID Posts First-Quarter 2022 Financial Statements OMID May 13, 2022 10:00 AM

"VAPR" E-Cite Motors Profiled as AMAZING EV Auto Investment in EV Auto Insider - Above GOOD Tesla, and Those Making its' TERRIBLE Investment List VAPR May 13, 2022 9:49 AM

American Green, Inc. ™ (OTC:ERBB) Board Votes to Exercise its Option to Buy 40,000 square foot "Cypress Chill" Cannabis Building for $3,750,000 ERBB May 13, 2022 8:30 AM

Progressive Care to Report First Quarter Financial Results on May 17, 2022 RXMD May 13, 2022 8:06 AM

Alliance Creative Group (ACGX) Reports Revenue of $2,865,404 for First Quarter of 2022 ACGX May 13, 2022 8:00 AM

Day Range:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y