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Power play: Tritium wins bid to supply Shell in global EV charging race

Business

Tritium has struck a potentially major deal with global energy giant Shell to supply its electric vehicle fast-charging technology to its businesses in Europe, South Africa, Asia, the Middle East and North America.

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Trititum said there was no limit to the number of chargers that can be purchased by Shell and their subsidiaries to meet their aggressive rollout schedule. The initial duration of the contract was three years, with an option to extend by further two years respectively.

Tritium said Shell had an ambition to operate 500,000 charge points by 2025 and 2.5 million by 2030.

The deal comes as the Brisbane based Tritium heads towards as listing on the American Nasdaq exchange early next year with an expected enterprise value of about $2.2 billion.

It also recently raised $US90 million in debt an unveiled its next generation of charging technology as well as testing facility in Brisbane.

Tritium chief executive Jane Hunter said the Shell deal was a great opportunity for the company.

“We have been selling electric vehicle charging infrastructure to Shell since 2020 and we’re thrilled to have been selected as a partner to Shell in this latest tender,” Hunter said.

Tritium has now sold 5200 EV chargers to 41 countries. The St Baker Innovation Fund holds a 25 per cent pre-merger stake in Tritium and Trevor St Baker is chairman of the company.

“It’s a vote of confidence in Tritium’s products and services and we look forward to supporting Shell in their endevours to reduce emissions and enable rapid electrification of transportation.”

 

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