Tritium introduces the PKM, an innovative fast charging solution
that creates a unique DC microgrid architecture, an industry first
that allows the Company to create a pool of shared power for the
full system to access.
The PKM150 is the first charger in the PKM line and the first
charger that enables a shared power system, designed to reduce
customers’ capital investment while maintaining high charger
availability and power output to EVs.
Tritium Holdings Pty Ltd (“Tritium” or the “Company”), a leading
global developer and manufacturer of direct current (“DC”) fast
charging technology for electric vehicles (“EVs”), today unveiled
the PKM, the Company’s new architecture and line of fast
chargers.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20211208005336/en/
The PKM150 is the first charger in the
PKM line and the first charger that enables a shared power system,
designed to reduce customers’ capital investment while maintaining
high charger availability and power output to EVs. (Photo: Business
Wire)
The PKM line is designed to break the linear relationship
between the power conversion equipment, which manages the
electrical grid feed to the site, and charger power output, which
manages electricity delivery to an EV. This development grants
charge point operators the freedom to share one central source of
converted DC power around the site. Since the infrastructure is
shared, less equipment is needed, enabling operators to deploy more
charging stations and increase the number of fast chargers
available for EV drivers.
The PKM represents the Company’s most innovative line of fast
chargers, greatly expanding the Company’s unique approach to
modular and scalable charging architecture, with a groundbreaking
system focused on providing customers with the flexibility to size
charging sites for today’s demand and also easily scale
infrastructure to meet future site and EV charging
capabilities.
“One of the biggest challenges in the EV charging industry right
now is increasing utilization without increasing driver waiting
times for a charge. Operating and capital costs are traditionally
proportional to peak power requirements, yet the revenue our
customers generate comes from average power delivery,” said Tritium
Co-Founder and Chief Growth Officer David Finn. “The PKM provides a
new, distributed architecture that delivers unique site capital
efficiency and scalability. With the PKM150, we’ve built a strong
foundational model for this new platform that will offer our
customers the opportunity to deploy more capital efficient sites,
which will in turn allow them to build more charging sites across
their networks.”
The PKM150 is the first fast charging system to be announced on
the Company’s new PKM architecture. The PKM150 system leverages
Tritium’s patented liquid-cooled modular design, pioneered with the
Company’s award-winning RTM fast charger, and provides customers
with the opportunity to choose between 50kW, 100kW or 150kW of
dual-cable charging station power to meet their business needs. The
modular construction of these chargers makes them faster and easier
to service and build compared to non-modular systems. Through the
modular design, Tritium can provide customers with chargers,
components and modules that have been rigorously field tested and
are interchangeable between models. This vision is already being
realized, with up to 80% of the same components being used between
the RTM and PKM150 charging stations.
“Our customers are critical to Tritium’s success, and through
our more than ten years of fast charging experience they have
provided Tritium with the valuable insights and a description of
the features they need to optimize their business,” said Tritium
Chief Revenue Officer David Toomey. “The PKM150 leverages customer
feedback along with the data and knowledge Tritium has acquired
from delivering more than 3.6 million high-power charging sessions,
to provide Tritium’s highest degree of product performance and
flexibility. With the PKM150, our customers can truly grow and
scale their fast charging infrastructure to meet rapidly evolving
industry, growing driver and battery technology demands through our
advanced hardware and software.”
The DC microgrid unique to the PKM architecture transmits power
across the system at 950V DC rather than 400V alternating current
(“AC”). This design reduces the gauge of cabling in half, which can
lead to up to tens of thousands of dollars in savings for small
charging sites and hundreds of thousands of dollars in savings for
large charging sites.
“This is an exciting time for the e-mobility industry. We’ve
reached a tipping point and transportation as we know it is
experiencing a major transition. Economies are moving from oil
powered transport to transport powered by electricity, and with
that, we believe internal combustion engine vehicles are becoming
an obsolete technology,” said Jane Hunter, Tritium CEO. “Tritium is
well-positioned to be a continued leader within this industry and
grow our global market share, and the PKM150 only further
solidifies our intention to be the world’s premiere fast charging
provider. The PKM150 and wider PKM product line will continue
Tritium’s market-leading position as the only fully liquid cooled
IP65-rated DC fast charger. Tritium continues to innovate, with the
PKM architecture providing unparalleled site scalability and the
optimal configuration for our charge point operator customers to
maximize their site revenue.”
This announcement comes on the heels of the announcement of
Tritium’s record-setting sales in the third calendar quarter of
2021, and precedes an anticipated public listing for the Company on
the Nasdaq in January 2022, through a business combination with
Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN,
DCRNW, DCRNU).
About Tritium
Founded in 2001, Tritium 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.
As announced on May 26, 2021, Tritium has entered into a
definitive agreement for a business combination (the “Business
Combination”) with Decarbonization Plus Acquisition Corporation II
(NASDAQ: DCRN, DCRNW, DCRNU) (“DCRN”), a publicly traded special
purpose acquisition company (SPAC), that would result in Tritium
DCFC Limited (“NewCo”), which will be the going-forward company,
becoming publicly listed. Completion of the proposed transaction is
subject to customary closing conditions, including approval of
DCRN’s stockholders, and is expected to occur in January 2022.
For more information, visit tritiumcharging.com
About Decarbonization Plus Acquisition Corporation II
Decarbonization Plus Acquisition Corporation II is a blank check
company formed for the purpose of effecting a merger, capital stock
exchange, asset acquisition, stock purchase, reorganization or
similar business combination with a target whose principal effort
is developing and advancing a platform that decarbonizes the most
carbon-intensive sectors. These include the energy and agriculture,
industrials, transportation and commercial and residential sectors.
DCRN is 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$5 billion of equity invested in
renewables.
Important Information and Where to Find It
In connection with the proposed Business Combination, NewCo,
which will be the going-forward public company, filed a preliminary
registration statement on Form F-4, (as amended, the “Registration
Statement”) with the U.S. Securities and Exchange Commission (the
“SEC”), which includes a preliminary proxy statement of DCRN. After
the Registration Statement has been cleared by the SEC, a
definitive proxy statement/prospectus will be mailed to the
stockholders of DCRN as of a record date to be established for
voting on the proposed Business Combination. INVESTORS AND SECURITY
HOLDERS OF DCRN ARE URGED TO READ THE PRELIMINARY PROXY
STATEMENT/PROSPECTUS, ANY AMENDMENTS THERETO, THE DEFINITIVE PROXY
STATEMENT/PROSPECTUS AND THE EFFECTIVE REGISTRATION STATEMENT AND
OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY
AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL
CONTAIN IMPORTANT INFORMATION ABOUT TRITIUM, DCRN, NEWCO AND THE
BUSINESS COMBINATION. Investors and security holders will also be
able to obtain copies of the Registration Statement and other
documents containing important information about each of the
companies once such documents are filed with the SEC, without
charge, at the SEC’s web site at www.sec.gov.
Participants in the Solicitation
DCRN and its directors and executive officers may be deemed
participants in the solicitation of proxies from DCRN’s
stockholders with respect to the proposed Business Combination. A
list of the names of those directors and executive officers and a
description of their interests in DCRN is contained in DCRN’s
filings with the SEC, including DCRN’s Annual Report on Form 10-K
for the fiscal year ended December 31, 2020, which was filed with
the SEC on March 31, 2021, and is available free of charge at the
SEC’s web site at www.sec.gov. Additional information regarding the
interests of such participants will be set forth in the
Registration Statement for the proposed Business Combination when
available. NewCo and Tritium and their respective directors and
executive officers may also be deemed to be participants in the
solicitation of proxies from the shareholders of DCRN in connection
with the proposed Business Combination. A list of the names of such
directors and executive officers and information regarding their
interests in the Business Combination will be contained in the
Registration Statement for the proposed Business Combination when
available.
No Offer or Solicitation
This document does not constitute a solicitation of a proxy,
consent or authorization with respect to any securities or in
respect of the proposed Business Combination. This document also
does not constitute an offer to sell or exchange, or the
solicitation of an offer to buy or exchange, any securities, nor
will there be any sale of securities in any states or jurisdictions
in which such offer, solicitation, or sale or exchange would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
will be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended, or an exemption therefrom.
Forward Looking Statements
Certain statements made in this document are “forward-looking
statements” with respect to the proposed Business Combination and
including statements regarding the benefits of the Business
Combination, the anticipated timing of the Business Combination,
the anticipated consummation and timing of the private offering of
ordinary shares in the capital of NewCo to a certain investor (the
“PIPE Financing”), 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 indicate
future events or trends or are not statements of historical matters
are intended to identify forward-looking statements. These
forward-looking statements are provided for illustrative purposes
only and are not intended to serve as, and must not be relied on by
any investor as, guarantees, assurances, predictions or definitive
statements of fact or probability regarding future performance,
conditions or results, and involve a number of known and unknown
risks, uncertainties, assumptions and other important factors, many
of which are outside NewCo’s, Tritium’s or DCRN’s control, that
could cause actual results or outcomes to differ materially from
those discussed in the forward-looking statements. Important
factors, among others, that may affect actual results or outcomes
include the inability to complete the Business Combination or the
PIPE Financing in a timely manner or at all (including due to the
failure to receive required stockholder or shareholder, as
applicable, approvals, or the failure of other closing conditions
such as the satisfaction of the minimum trust account amount
following redemptions by DCRN’s public stockholders, and the
receipt of certain governmental and regulatory approvals), which
may adversely affect the price of DCRN’s securities; the inability
of the Business Combination to be completed by DCRN’s Business
Combination deadline and the potential failure to obtain an
extension of the Business Combination deadline if sought by DCRN;
the occurrence of any event, change or other circumstance that
could give rise to the termination of the proposed Business
Combination or the PIPE Financing; the inability to recognize the
anticipated benefits of the proposed Business Combination; the
inability to obtain or maintain the listing of NewCo’s shares on a
national exchange following the proposed Business Combination;
costs related to the proposed Business Combination; the risk that
the proposed Business Combination disrupts current plans and
operations, business relationships or business generally as a
result of the announcement and consummation of the proposed
Business Combination; NewCo’s ability to manage growth; NewCo’s
ability to execute its business plan and meet its projections;
potential disruption in NewCo’s employee retention as a result of
the Business Combination; potential litigation, governmental or
regulatory proceedings, investigations or inquiries involving
NewCo, Tritium or DCRN, including in relation to the Business
Combination; changes in applicable laws or regulations and general
economic and market conditions impacting demand for Tritium’s or
NewCo’s products and services; and other risks and uncertainties
indicated from time to time in the proxy statement/prospectus
relating to the proposed Business Combination, including those
under “Risk Factors” therein, and in DCRN’s other filings with the
SEC. Forward-looking statements speak only as of the date they are
made. Readers are cautioned not to put undue reliance on
forward-looking statement, and NewCo and DCRN assume no obligation
and do not undertake any obligation to update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise, except as required by law. Neither
NewCo nor DCRN gives any assurance that either NewCo or DCRN will
achieve its expectations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211208005336/en/
Tritium Media Contact Jack Ulrich
media@tritium.com.au
Tritium Investors Contact Caldwell Bailey ICR, Inc.
TritiumIR@icrinc.com
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