Tritium minority stake acquired by Gilbarco Veeder-Root

Gilbarco Veeder-Root has taken a minority investment in Tritium in a move designed to accelerate the expansion of electric vehicle charging infrastructure

Brisbane, Australia-based Tritium launched its first DC fast charger in 2014 and currently has installations in 26 countries around the world.

“Gilbarco Veeder-Root’s interest in Tritium further validates Tritium’s capabilities and technology expertise in the EV space,” says David Finn, chief executive officer and founder, Tritium. “This investment also sends a strong message to the industry about the future of EV charging in the retail fueling and convenience market – it’s real, it’s happening and Tritium is at the forefront globally.”

Gilbarco Veeder-Root will sell all Tritium solutions, including Veefil-PK high power charging systems, which Tritium claims is capable of a full charge of an EV in under ten minutes. These high power charging systems have liquid-cooled technology and a significantly smaller footprint than other systems on the market, according to Tritium.

Martin Gafinowitz, senior vice president of Gilbarco Veeder-Root parent Fortive, adds, “Our partnership with Tritium is the logical next step in our long history of evolving the Gilbarco Veeder-Root business portfolio to address progressive customer needs. This 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 should enable Tritium to accelerate operational expansion in Europe and the USA.

www.tritium.com.au

www.fortive.com

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