Gilbarco Veeder-Root Takes Minority Stake In Tritium

Gilbarco Veeder-Root Takes Minority Stake In Tritium

David Egan attended the launch of the new partnership on the Gilbarco Veeder-Root Booth in Las Vegas.

Gilbarco Veeder-Root, a Fortive Corporation business, has made a minority investment in Tritium Pty Ltd, the Australian DC electric vehicle charging infrastructure solutions specialists. Tritium, has become a major global supplier, and currently has installations in 26 countries around the world, since it launched its first DC fast charger in 2014.

David Finn, Chief Executive Officer and founder, Tritium, said, “Gilbarco Veeder-Root’s interest in Tritium further validates Tritium’s capabilities and technology expertise in the EV space. 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.”

All Tritium solutions, including Veefil-PK high power charging (HPC) systems, which are capable of a full charge of an EV in just five-to-ten minutes will be sold by Gilbarco Veeder-Root. A unique and innovative liquid-cooled technology and a significantly smaller footprint than other HPCs on the market are possessed by these high power charging systems. To ensure optimal charger lifetime, the Tritium cooling system allows for less wear on internal parts.

Martin Gafinowitz, Senior Vice President of Fortive, stated that their partnership with Tritium is the logical next step in their 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”.

Accelerating a number of strategic activities, including operational expansion in Europe and the USA to keep pace with a fast-growing market, with global sales tipped to increase by a third in 2018 compared with the previous year will be enabled by Tritium, as a result of this investment. Expanding production capacity to meet increased demand for the company’s world-leading Veefil-PK Up To 475kW High Power Charging Systems, and new product research and development include other activities. Following its success in Europe and the USA, Tritium will also look to expand into India, China and the wider Asian region in the medium turn. PWKD10102018

Last modified onWednesday, 10 October 2018 13:53
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