Tritium Collects Funds Up To Rp2.01 Trillion To Accelerate Ultra-Quick EV Charger Production

Tritium received an injection of funds (photo: Tritium)

JAKARTA - Tritium, a global development company and a mobile fast charging technology manufacturer for EVs announced that they are raising up to 135 million US dollars (Rp2.01 trillion) to accelerate fast charger production (DC).

As electric vehicles sell at high speeds globally, the need for more charging options is also increasing.

We're pleased to announce a new capital package aimed at funding working capital and expansion. With this capital, we expect to fund product development, operational support and expansion, and accelerate global production capacity.Read more below.https://t.co/OfXoscOBk0

— Tritium® (@TritiumCharging) September 6, 2022

Transportation is shocking at a very high speed. Tritium's cutting-edge and innovative technology gives companies the tools to build high-level hardware, software and fast charging services, and now we have additional capital to improve on," Tritium CEO Jane Hunter said in an announcement.

Hunter also hopes to use this investment to accelerate production, accelerate product development, and, in the end, to continue the company's efforts to become the number one fast charger on the planet.

"The strength of Tritium's global market position, its different technology and high demand from public charging operators and fleets for Tritium products have presented very attractive cases for these debt investors," said David Toomey, Head of Corporate Development Tritium.

This capital was obtained from Cigna & Barings in the amount of 60 million US dollars (Rp896 billion) and also from B. Riley who established an equity facility committed to Tritium of 75 million US dollars (Rp 1.1 trillion).

"We really appreciate the ongoing long-term support from Cigna and Barings, who have long been Tritium partners, as we contribute to global missions to shock transportation," he explained further.