Jun 3, 2021 â 12.00am
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A far-sighted decision by a 135-year-old private engineering firm to invest in Brisbane-based electric vehicle charging firm Tritium has yielded a spectacular return and Kara Frederick, Varley Groupâs tech adviser, says Tritium now has a significant opportunity to grow globally.
Tritium has tapped into a new era of US investor appetite for the electric vehicle sector triggered by the COVID-19 pandemic but which is largely absent in the laggard EV market of Australia, according to Ms Frederick.
Varley Group became Tritiumâs first external investor in 2012.
Electric dreams: Varley Groupâs Kara Frederick and Jeff Phillips have helped steer Tritium towards international markets.Â
- The transaction will provide gross proceeds of up to approximately US$403 million (AUD$520 million) to Tritium, assuming minimal redemptions by DCRN's public stockholders, to fully fund its
Tritium charges to $2b Nasdaq listing
May 26, 2021 – 8.40pm
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Home-grown electric vehicle fast-charger Tritium, backed by coal entrepreneurs Trevor St Baker and Brian Flannery, is set for a “double unicorn” listing on NASDAQ after signing a deal with a so-called blank cheque company in the US that looks set to put a rocket under its growth ambitions.
The deal with Decarbonization Plus Acquisition Corporation II, a special purpose acquisition company, will allow Brisbane-based Tritium to go public with an enterprise value of about $2.2 billion and armed with about $390 million on the balance sheet.
Tritium CEO Jane Hunter and co-founder David Finn are confident of rapid growth for the EV fast-charger manufacturer.
“We plan to expand to three global manufacturing facilities, expedite product development, grow our global sales and service operations teams and so much more.”