Tritium raises $40 million in capital
The Australian charging station manufacturer Tritium has received investments totalling $40 million. Most of the money comes from Tritium’s largest shareholder.
The St Baker Family was already the largest single investor in Tritium before the current capital increase. With the new investment of 35 million dollars, Trevor St Baker further expands his stake, though the exact shares are not mentioned. Another five million dollars came from the company O-Corp EV, which also already had a stake in Tritium.
Tritium wants to use the fresh capital to increase its production, expand its product development and continue global expansion by, for example, “grow[ing] service operations around the world”. However, the company did not publicise any concrete expansion or production targets.
“We continue to achieve the milestones on our roadmap in pursuit of becoming the number one fast charger manufacturer on the planet. With the production capacity offered through our new Tennessee factory and long-standing Brisbane factory, we believe we’re well on our way to achieving that goal,” said Tritium CEO Jane Hunter. “Through this capital raise, we’ll continue to grow our revenue and competitive position, fund our increased production capacity, and support the launch of our next generation ultrafast charger.”
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