Photo: Martin Gafinowitz, Senior Vice President of Fortive, announces the investment.
Gilbarco Veeder-Root, a Fortive Corporation business, announced today that it has made a minority investment in Tritium, a privately held electric vehicle (EV) charging manufacturer.
Tritium specializes in the design and manufacture of DC fast charging solutions for electric vehicles. Established in 2001, it launched its first DC fast charger in 2014, since when it has become a leading global supplier, with installations in 26 countries.
Martin Gafinowitz, Senior Vice President of Fortive, stated, “Our partnership with Tritium is the logical next step in our 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.
Gilbarco Veeder-Root will sell 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. These high power charging systems have unique and innovative liquid-cooled technology and a significantly smaller footprint than other HPCs on the market. The unique cooling system allows for less wear on internal parts to ensure optimal charger lifetime. Tritium’s leadership in EV development creates a seamless path for Gilbarco Veeder-Root customers to begin building out their charging networks.
“Gilbarco Veeder-Root’s interest in Tritium further validates Tritium’s capabilities and technology expertise in the EV space,” said David Finn, Chief Executive Officer and founder, Tritium. “This investment also sends a strong message to the industry about the future of EV charging in the retail fueling and convenience market.”
Tritium has announced partnerships with a number of new customers across the globe in 2018, including a deal to supply its Veefil-PK high power charging systems for the IONITY network. Together with IONITY, Tritium is globally the first in the ground with 350KW high power chargers. IONITY is a joint venture of the BMW Group, Daimler AG, Ford Motor Company and the Volkswagen Group with plans to roll out 400 sites across Europe.