Tritium Announces Location of New US Manufacturing Facility in Tennessee | Your money

LEBANON, Tennessee, 08 Feb. 28, 2022 (GLOBE NEWSWIRE) — In an effort to increase sales, localize production and expand electric vehicle (“EV”) charging infrastructure in the United States, Tritium DCFC Limited (“Tritium” or the “Company”) (Nasdaq: DCFC), a global leader in direct current (“DC”) fast chargers for electric vehicles, announced plans to expand its U.S. footprint with a new manufacturing facility in Lebanon, Tennessee. The location is expected to house up to six production lines for Tritium’s DC fast chargers, including the company’s award-winning RTM models and all-new PKM150 models. The new facility is also expected to create more than 500 jobs in the region over the next five years. All factory-produced chargers must comply with applicable provisions of the Buy America Act under Federal Highway Administration (“FHWA”) requirements for domestic sourcing.

The Infrastructure Investment and Jobs Act (“Bipartisan Infrastructure Act”) is expected to provide $7.5 billion in investment for the deployment of a network of 500,000 electric vehicle chargers along highway corridors in the United States. This network aims to facilitate long-distance travel, as well as shorter-distance travel within communities, to provide convenient charging options and encourage the electrification of transportation across the country.

“I welcome Tritium to Tennessee and thank the company for its commitment to creating more than 500 new jobs in Wilson County,” Tennessee Governor Bill Lee said. “Our state’s highly skilled workforce and leadership position in the electric vehicle industry continue to attract companies like Tritium to Tennessee.”

EVENT VIDEO: Jane Hunter, CEO of Tritium, joins President Biden at the White House (live stream: 1:30 p.m. EST)

Tritium’s expansion into the United States is part of a global trend bringing convenient and fast EV charging solutions to the masses. Production is expected to begin at the Tennessee plant in the third quarter of 2022 and should help the company facilitate the distribution of its products in the United States, where the company has recently seen an increase in revenue in proportion to its overall composition. revenues. , and expand its global impact beyond the more than 3.6 million high-power charging sessions in 41 countries it has already delivered. Based on preliminary revenue figures for the twelve months ended December 31, 2021, the United States and Europe represented approximately 43% and 43% of the Company’s revenues, compared to approximately 23% and 68%, respectively, for the twelve months ended June. 30, 2021. The Company expects to announce the expansion of its European manufacturing capacity, through the expansion of existing facilities or the creation of new facilities, in 2023.

“Tritium’s investment in a state-of-the-art US-based manufacturing facility is part of our strong global growth push for the electric mobility industry,” said Jane Hunter, CEO of Tritium. “We are pleased to work with the US Federal Government and the State of Tennessee on this initiative. With the help of hard-working Tennessee residents, we plan to double or even triple our loader production capacity to expand the distribution of our products throughout the United States.

Last month, Tritium announced that it had completed its previously announced business combination with Decarbonization Plus Acquisition Corporation II. Tritium’s common stock and warrants began trading on the Nasdaq on January 14, 2022, under the symbols “DCFC” and “DCFCW”, respectively.

About the Tennessee Department of Economic and Community Development

The mission of the Tennessee Department of Economic and Community Development is to develop strategies that help make Tennessee the #1 location in the Southeast for high-quality jobs. To develop and strengthen Tennessee, the department seeks to attract new business investment to the state and works with Tennessee businesses to facilitate economic expansion and growth. For more information, visit tnecd.com.

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 rugged, compact loaders are built to look great on Main Street and thrive in tough conditions, with technology designed to be easy to install, own and use. Tritium is focused on continuous innovation to support its customers around the world.

For more information, visit rechargetritium.com

Forward-Looking Statements This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1996. The Company’s actual results may differ from its expectations, estimates and projections and, therefore, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect”, “estimate”, “project”, “budget”, “expect”, “anticipate”, “intend”, “plan”, “may”, “shall” , “could”, “should”, “believe”, “predict”, “potential”, “target”, “continue”, “aim” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, but are not limited to, the Company’s expectations, hopes, beliefs, intentions or strategies for the future. These forward-looking statements involve significant risks and uncertainties that could cause actual results to differ materially from expected results. In particular, statements about maximum production capacity are subject to risks, including, but not limited to, supply chain shortages or disruptions, labor shortages and capacity of the Company to maximize quality control and minimize inefficiencies in the production process. There can be no assurance that the Company will achieve its maximum production capacity. You should carefully consider the risks and uncertainties described in documents filed by the Company from time to time with the United States Securities and Exchange Commission. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Most of these factors are beyond the Company’s control and are difficult to predict. The Company cautions not to place undue reliance on forward-looking statements, including projections, which speak only as of the date they are made. The Company neither undertakes nor accepts any obligation to publicly release updates or revisions to any forward-looking statement to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. .

Contact us Jack Ulrich [email protected]

Tritium Investor Contact Caldwell Bailey ICR, Inc. [email protected]

TNECD Media Contact Lindsey Tipton Public Information Officer (615) 339-6608 [email protected]

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