One Australian billionaire has sold off a major coal asset and reportedly plans to funnel the proceeds into Aussie-born electric vehicle (EV) charging giant Tritium DCFC Ltd (NASDAQ: DCFC) shares.

Trevor St Baker and business partner Brian Flannery have agreed to sell New South Wales' Vales Point Power Station – responsible for 11% of the state's energy ­– to Czech group Sev.en Global Investments.

The sale is worth more than $200 million, The Australian reports. St Baker is said to be planning to put the proceeds towards upping his stake in Tritium.

The Tritium share price last traded at US$5.87.

Let's take a closer look at the billionaire's apparent plan to increase his holding in the EV charging favourite.

Could this coal sale fuel Tritium's fire?

Energy billionaire St Barker has sold off a major coal fired power station and apparently intends to reinvest the proceeds into Tritium – a favourite for the energy transition.

St Barker and Flannery reportedly bought the station for $1 million in 2015. They are also said to have pocketed $130 million of dividends from its activities over the three years to 2022.

The billionaire told The Australian he will invest some of the cash generated from the sale into Tritium.

Another portion of the proceeds has also been earmarked to go to Aussie EV fast charging stations business Evie Networks.

Both companies are already mainstays in the St Barker Energy Innovation Fund.

St Barker has also held a seat on the Tritium board since 2013.

Despite his apparent interest in the energy transition, St Barker remains confident coal will play an important role in Australia in the years to come. He commented on the sale of Vales Point, saying:

We continue to have a firm view that around the clock dispatchable generation will be necessary for the NEM well into the future.

Sev.en already has a presence in Australia, holding interests in Queensland's Millmerran and Callide power stations.

Tritium has been continuing its growth story this year. It opened its first factory in the United States last month, just five months after announcing its planned build.

The post From coal to clean: Aussie billionaire's plan to further energise Tritium stake appeared first on The Motley Fool Australia.

The share price of Aussie electric vehicle (EV) fast-charging leader Tritium DCFC Ltd (NASDAQ: DCFC) launched 14% overnight amid news the doors of its maiden United States factory have been thrown open.

The facility, located in Lebanon, Tennessee, is expected to help meet US government goals and electrify transportation across the continent and beyond.

Tritium CEO Jane Hunter made the announcement alongside US President Joe Biden in February.

Right now, shares in Tritium are priced at US$7.31 apiece.

Let's take a closer look at the latest news from the Brisbane-born outfit.

Tritium share price surges 14% as factory opens

The share price of NASDAQ-listed tech stock Tritium rocketed higher overnight amid the opening of its first US manufacturing facility.

The facility will initially produce the company's award-winning RTM fast-charging device. Additionally, it expects to branch out and produce the company's PKM150 in early 2023.

The PKM150 fast charger boasts a simpler install and more options for consumers, says the company.

Hunter said the facility's opening is an "important milestone" for the company, Tennessee, and US drivers. She continued:

As many as 35 million electric vehicles are expected to be in use by 2030 and those vehicles will require more powerful and convenient charging infrastructure.

Americans will rely on [EV charging infrastructure] to get to work, to school, to doctor's appointments, and more. It needs to be reliable, and it needs to be able to grow to meet their needs.

The chargers are expected to meet the requirements of the US's new Inflation Reduction Act. The legislation offers US$370 billion for climate-friendly initiatives. The PKM150 fast charger is also expected to meet the standards for US National Electric Vehicle Infrastructure program funding in the March quarter.

Furthermore, Tritium chief operating officer Glen Casey said the factory's set-up was one of the fastest he'd seen in his 30-year career. It took just five months. Casey said:

I can truly say that this new facility is world-class. Like our products, we've designed our manufacturing process to be modular and scalable.

Sadly, its overnight gains weren't enough to boost the Tritium share price back into the long-term green. It has slumped 21% since listing on the NASDAQ in January.

The post Why did the Tritium share price just leap 14%? appeared first on The Motley Fool Australia.

It wasn't too long ago that we were reporting on a 36% price increase in Tritium DCFC Ltd (NASDAQ: DCFC) shares during March.

Two months later, investors in the electric vehicle (EV) fast-charging outfit hailing from Brisbane are less ecstatic with the company's performance. Since 9 February this year, shares in the EV charger company have deflated 60%.

Much like other pre-profitable listed companies, the Tritium share price has been sold down amid a shift in market mood. The changing economic environment appears to have added more resistance to Tritium's metaphorical electric current.

In light of this, let's recap what's been happening under the hood at Tritium recently. Following this, we'll take a look at an opportunity that could potentially amp up the voltage for this company.

Doing deals

Looking at how the share price has performed, you probably wouldn't think Tritium has released any good news in months. Yet, the last few months have been jam-packed with developments for the company.

In April, shareholders were informed of a multi-year contract with London-based oil and gas heavyweight BP Plc (NYSE: BP). The deal is part of BP's plans to establish a global EV charging network. Initially, Tritium will be tasked with delivering an order of just under 1,000 chargers across the UK, Australia, and New Zealand.

Additionally, an announcement landed in May revealing an additional 250 chargers ordered by Osprey. This marks the second order from the United Kingdom EV charging network operator with the region expected to require between 280,000 to 480,000 charging points by 2030.

Speaking on behalf of Osprey, CEO Ian Johnston stated:

As an independent charge point operator, we have the freedom to work with the very best hardware companies so that we can provide the very best experience for our customers… Tritium is an instrumental partner in helping Osprey deliver on our goal of creating a high-quality, inclusive, reliable charging network that's worry-free and accessible for all.

In spite of these announcements, Tritium shares have suffered as sentiment wanes on the more speculative end of markets. For the 12 months ending 30 June 2021, Tritium lost US$63.1 million on the bottom line.

A jolt of momentum for Tritium shares ahead?

Regulation is playing a role in fuelling the rollout of EV chargers amid a world more conscious of carbon emissions. As such, the Tritium share price can be influenced by regulatory changes that aid or block the electric trend.

Recently, the European Parliament has thrown its support behind an EU-wide ban on new fossil fuel-powered vehicles from 2035.

While the law is not yet final, it hints at a potential future where vehicle manufacturers will need to focus their attention on EVs. In such a world, Tritium shares might be positioned to benefit from heightened demand for charging stations.

The post Shares in Aussie EV charging station company Tritium have plunged 60% since February. What's next? appeared first on The Motley Fool Australia.

What happened

Shares of Tritium DCFC (NASDAQ: DCFC) gained 36.4% in March, according to data from S&P Global Market Intelligence. The electric vehicle (EV) charging company was taken public through a merger with a special purpose acquisition company (SPAC) in January, and its share price has seen big swings in conjunction with market momentum following the combination. 

The S&P 500 index climbed 3.6% last month, and the Nasdaq Composite index rose 3.4% across the stretch. Many companies with growth-dependent or otherwise speculative valuations saw big gains in the period, and companies in the EV and EV-charging spaces tended to be particularly big winners. 

So what

Tritium stock soared in February after the company announced at the White House that it was opening a new manufacturing factory in Tennessee. Following this news, Tritium announced a partnership that will see it providing fast chargers for Wise EV's new national charging network.

The combination of these announcements prompted Tritium's share price to skyrocket, but it saw a steep pullback as investors took profits on the gains and bearish momentum for the broader market spurred big valuation pullbacks for companies with forward-looking valuations. With investors becoming more bullish and open to taking on risk in March, money poured back into the company's stock. 

Now what

Despite the explosive gains last month, Tritium's share price is still down roughly 38% from the lifetime high that it hit in February. The company now has a market capitalization of roughly $1.3 billion and is valued at approximately 7.7 times this year's expected sales. 

The fact that Tritium's EV fast-charging technologies are already seeing real-world adoption is encouraging, and the company's forward price-to-sales multiple doesn't look particularly unreasonable given the huge room for long-term growth in the industry. On the other hand, investors should keep in mind that the company is coming fresh off of a SPAC merger, and that means that there's still relatively limited visibility into the company's business performance and other financials. Tritium DCFC could have big upside at current prices, but the stock also looks relatively high risk. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Tritium stock skyrocketed 36% in March appeared first on The Motley Fool Australia.

What happened

Tritium DCFC Limited (NASDAQ: DCFC) saw its shares jump 15.7% on Wednesday. It was a volatile day, though, as the stock made big gains only to end the day on the negative side. The company, which produces direct current fast chargers for electric vehicles, saw its stock close at $7.92 on Tuesday then open Wednesday at $8.12 before jumping all the way up to $9.16 in the first hour of trading. As the selling began, the stock dropped all the way to a low of $7.65 in the afternoon. The stock is still closer to its 52-week low of $6.42 than its high of $19.75. 

So what

Thanks partly to the current conflict between Russia and the Ukraine, the price of Brent Crude Oil has shot up above $114 a barrel. While that may be good for oil companies, it is also good for electric vehicle makers and any business connected with electric vehicles. The prospect of increased gas prices has convinced more consumers to look into electric vehicles and more governments to make decisions to boost EV production. On Tuesday, President Joe Biden specifically mentioned his administration plans to build more charging stations.

Even before President Biden's remarks, Tritium was operating with plenty of tailwinds. It recently said it had sales of $141 million in 2021, up 136% over 2020 sales. In the last six months of 2021, the company said it had sales of $98 million, up 416%, year over year.

There are several reasons why investors remain wary, though. The company isn't profitable, hasn't filed a true quarterly report yet, is relatively unknown, and is dealing with supply issues. The company said its contracted backlog as of Dec. 31 equals 48% of its 2022 revenue target, adding it expects $170 million in revenue in 2022.

Now what

The stock is still down more than 22% for the year. The big reason for Wednesday's wild swing is that a lot of investors, frustrated with the stock's decline, jumped at the opportunity to sell when the shares rose. The stock has only been trading as a public company on the NASDAQ since Jan. 14 of this year, not long before the company mentioned it plans to build a fast-charging plant in Lebanon, Tennessee.

There's a lot of hype around many EV stocks, so today's wild swing reflects both the excitement and the skepticism around a relatively new industry. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Tritium shares just popped then flopped appeared first on The Motley Fool Australia.

What happened

Last week, in a short series of thrilling stock market sessions, a tiny, all-but-unknown Australian maker of electrical equipment -- Tritium DCFC Limited (NASDAQ: DCFC) -- rocketed to stock market stardom. President Joe Biden appeared to make Tritium the centrepiece of his $7.5 billion plan to build a nationwide network of electric vehicle charging stations, you see. And before you knew it, Tritium stock had exploded 130% higher.

But easy come, easy go. Just two days after its run higher began, Tritium stock lost all its momentum and proceeded to plunge. On Monday, that slump continued and, as of 11:35 a.m. ET, Tritium shares are down another 10.2%.

So what

On Friday, you see, after close of trading for the weekend, Tritium notified investors some shareholders may be preparing to cash in on those gains.  

Filing an F-1 statement with the SEC [Securities and Exchange Commission], Tritium advised that insider shareholders may be preparing to sell 115.4 million shares of stock that they already hold, as well as 8.4 million warrants that confer the right to buy 21.8 million more shares.

Now what

In short, there's now the potential for more than 137 million shares of Tritium to soon flood onto the market and swamp demand for the stock, driving down share prices even more than they've already fallen.

Investors who've already seen almost all of their gains from last week washed away aren't interested in waiting around for the next flood. They're selling Tritium shares en masse. And given that Tritium is unprofitable and burning cash, and yet the stock still sells for a multiple of 25 times sales, I cannot say I blame them.

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Tritium shares keep falling appeared first on The Motley Fool Australia.

What happened

Easy come, easy go. After two straight days of mind-boggling gains, shares of tiny, relatively unknown -- at least up until this week -- Australian electrical equipment stock Tritium DCFC Limited (NASDAQ: DCFC) are succumbing to gravity this morning.

By market close, the maker of charging stations for electric vehicles saw its stock slide 15.1%.

So what

Let's recap, shall we? On Tuesday, Tritium stock soared on an announcement that it is building a new factory in Tennessee. One day later, Tritium stock was off to the races once again, this time because President Biden stood on a stage and praised the company (and its new Tennessee factory) by name.

To an extent, this was a logical reaction: After all, President Biden's trillion-dollar infrastructure bill, which passed late last year, contains some $7.5 billion worth of federal funding to support companies working to create a network of 500,000 electric vehicle charging stations in the U.S. And Tritium will almost certainly share in this loot, now that the president has put his imprimatur of approval upon it.

Now what

It's logical, therefore, to assume that Tritium is now in line to receive millions (or even tens of millions) of federal revenue dollars on its top line. For a company that did barely $56 million in sales over the last 12 months, this is a big deal.

That being said, Tritium has not yet shown itself capable of turning any level of revenue into real profit on the bottom line. Subsidies from the government will certainly help with that -- in fact, I'd go so far as to say it's now more likely than not that Tritium will turn profitable over the next several years. But will it be profitable enough to justify the $2.1 billion market capitalization that the company has amassed over the past couple of days?

That remains to be seen -- and until it is seen, investors are right to be cautious. 

This article was originally published on Fool.com. All figures quoted in US dollars unless otherwise stated.

The post Why Tritium shares dropped 15% today appeared first on The Motley Fool Australia.

It's been a big week of news for Tritium DCFC Ltd (NASDAQ: DCFC), and today is no different.

While most of Australia slept last night, the Brisbane-based designer and manufacturer of electric vehicle fast chargers saw its stock take off, gaining 64.57% in Wednesday's session.

That's on top of Tuesday's 40% gain. As of Wednesday's close, which occurs on Thursday morning AEDT, the Tritium share price is US$15.70.

However, it's dropped 8% in after-hours trading.

Let's take a look at what's been driving the Tritium share price and the company's future plans.

What's electrifying the Tritium share price this week?

As The Motley Fool Australia reported yesterday, Tritium CEO Jane Hunter met with United States President Joe Biden on Tuesday to announce a new manufacturing facility to be built in Tennessee.

The facility will produce 10,000 electric fast chargers each year, with the capacity to produce up to 30,000 annually.

The news came as President Biden announced that US$5 billion of a US$7.5 billion fund package will be dispatched to states this week.

The funds will go towards installing what he says will be "a national network of electric vehicle chargers" across the United States.

What's next for Tritium?

Tuesday's news is just the start of what could become a series of exciting updates to boost the Tritium share price.

The company is expecting production at its new Tennessee facility to begin in the September quarter of 2022. Hunter said the facility will help Tritium double or triple its United States production in the United States.

Tritium also said it's planning to announce the expansion of its European manufacturing capacity in 2023. It will do so either through expanding its existing facilities or establishing new facilities.

Additionally, it announced that preliminary figures show 43% of its 2021 revenue came from the United States. Another 43% came from Europe.

For comparison, for the 12 months ended 30 June 2021, 23% of Tritium's revenue came from the United States while 68% came from Europe.

The post Zap! Tritium (NASDAQ:DCFC) share price rockets another 65%. What's next? appeared first on The Motley Fool Australia.

The Tritium DCFC Ltd (NASDAQ: DCFC) share price has exploded today on the back of news that has sparked interest from the highest office in the United States.

Tritium is an Australian electric vehicle (EV) fast-charging company now listed on the NASDAQ.

The company's share price rocketed 39.47% on the NASDAQ today to finish the session at US$9.54. In after-hours trading, it has soared a further 11.01% to US$10.59 at the time of writing.

Let's take a look at what has buoyed the Tritium share price today.

Tritium CEO meets with US President Joe Biden

Today, the Tritium CEO Jane Hunter met with President Joe Biden for an important announcement.

Tritium will establish a new DC fast charger manufacturing facility for EVs in Tennessee, US. This will include up to 6 production lines. The facility will employ more than 500 people in the next 5 years.

The facility will also produce more than 10,000 fast charger units per year. This could expand to up to 30,000 at peak capacity.

In remarks at the White House, US President Joe Biden said:

The new manufacturing facility Tritium is — that it's announced today is more than just great news for Tennessee.

This is great news for workers across the country, for an economy, and, frankly, for the planet. When we wrote the — and passed the Bipartisan Infrastructure Law, we included $7.5 billion for electric vehicle chargers, like the one Jane brought along today. 

And later this week, we're going to announce a state-by-state allocation for $5 billion of the funding for these chargers. So states can start making plans to build out what will become a national network of electric vehicle chargers.

Tritium's new facility is going to produce up to 30,000 of these chargers every year.

Amazing month for Aussie company

The meeting with the President follows an incredible month for Tritium. On Australia Day, Hunter rang the closing bell at the NASDAQ MarketSite in New York's Times Square. Tritium was listed on the NASDAQ on 14 January.

Tritium said its US expansion is part of a global trend to provide fast EV charging solutions to the "masses".

In a media release put out by Tritium, CEO Jane Hunter said:

Tritium's investment in a U.S.-based, cutting-edge facility for manufacturing is part of our strong push toward global growth in support of the e-mobility industry.

We are thrilled to work with the U.S. Federal government and the State of Tennessee on this initiative. With the help of the hard-working residents of Tennessee, we expect to double or even triple our charger production capacity to further our product distribution throughout the United States.

Tritium share price snapshot

The Tritium share price has climbed 3.47% since the company was listed on the NASDAQ on 14 January. For perspective, the benchmark Nasdaq Composite Index (NASDAQ: IXIC) has lost 4.7% since this date.

Tritium has a market capitalisation of about US$926 million based on the current share price.

The post Tritium (NASDAQ:DCFC) share price rockets 39% on what Biden describes as 'great news for the planet' appeared first on The Motley Fool Australia.

Key points

• Tritium is an Australian-born manufacturer of DC fast chargers for electric vehicles
• It listed on the US Nasdaq exchange just a fortnight ago
• Let's check out what happened with Tritium shares last night…

It's been a pretty fantastic day for the Tritium DCFC Limited (NASDAQ: DCFC) share price. Shares of this manufacturer of direct current fast chargers for electric vehicles shot up 7.1% on the US markets last night (our time) to close at US$7.84 a share. That's more than 10% above the lows this company reached last Friday.

The Brisbane-based Tritium only launched on the Nasdaq just over a fortnight ago on 14 January. As my Fool colleague Brooke covered last week, Tritium was able to merge with a special purpose acquisition corporation (SPAC) called Decarbonization Plus Acquisition Corporation in listing on the share market. In doing so, it forwent the traditional initial public offering (IPO) process that we're all familiar with.

However, Tritium shares remain down around 15% from where they were trading at on their first day of Nasdaq life on 14 January.

So why did this company rocket more than 7% last night?

Why did Tritium shares rally 7% last night?

Well, it's not entirely clear. The company did put out a press statement last Friday which could have had an impact. Tritium announced that it had entered into an agreement with the Saudi company Electromin. Electromin is reportedly a "leading provider of e-mobility solutions across the Middle East and Africa". The agreement will see Electromin purchase 200 DC fast chargers from Tritium.

But the market's latest moves could also have contributed to Tritium's stellar night last night. Overnight, the US markets enjoyed a convincing rally. The NASDAQ-100 (INDEXNASDAQ: NDX) was up a very pleasing 3.3%. Some major tech shares did even better. For example, electric vehicle and battery manufacturer Tesla Inc (NASDAQ: TSLA) saw its stock price surge by more than 10%.

It's possible that Tritium shares just got caught up in this rush back into the tech space that we've seen investors shun in recent weeks.

Whatever the reasons for last night's rally in Tritium DCFC shares, it would certainly be a welcome development for investors.

At Tritium's last share price, this company had a market capitalisation of US$1.06 billion. 

The post Why did the Tritium (NASDAQ:DCFC) share price just leap 7%? appeared first on The Motley Fool Australia.

Key points

• Direct-current fast-charger manufacturer Tritium is now on the Nasdaq
• Shares in the company have slipped to the downside since listing
• Plans to construct a manufacturing facility in the United States are underway

It has nearly been two weeks since electric vehicle fast-charging company Tritium listed on the Nasdaq.

The Brisbane startup-turned-DC-fast-charger icon has shared in the excitement of becoming a publicly listed company after merging with the Decarbonization Plus Acquisition Corporation II SPAC. As a result, Tritium now trades as Tritium DCFC Limited (NASDAQ: DCFC).

But what has the honeymoon period been like for Tritium?

Let's take a closer look.

How's Tritium been tracking?

After receiving approval from shareholders, Tritium joined forces with its SPAC and hit the Nasdaq decks on 14 January. Since then, the company's shares have succumbed to some selling pressure on the market. As a result, the Tritium share price is down 12.3% to US$8.09 since listing.

Though, the disappointing start to its listed life was not enough to wipe the smile off the faces of Tritium's team during the honorary ringing of the closing bell. This took place yesterday at the Nasdaq exchange in New York's Times Square.

Commenting on this milestone moment, Tritium CEO Jane Hunter said:

The transport industry is being electrified, which means it is more important than ever for EV owners to have access to rapid, reliable charging infrastructure. We are proud to provide this networked infrastructure to our customers. As a public company, we expect to continue to expand our product suite and global footprint, which has already enabled more than 3.6 million high-power charging sessions across 41 countries — delivering over 55 GWh of energy.

I want to thank the Tritium team and Board of Directors, our investors, our partners at DCRN and our transaction advisors for their support and dedication through this process.

What's next?

Not ones to rest on their laurels, the Tritium team is already looking ahead to the next achievement to tick off the list. This time around the company is seeking to set up a manufacturing facility in the United States before the end of September.

The selected site for the US facility is expected to be announced within the next few weeks. According to Tritium co-founder and executive director David Finn, the development will be essential to achieving significant production growth.

Finn said:

It will be massive for us. The capacity at our Brisbane facility is about 5000 pieces per annum, and the US facility will double that. It will be huge.

Following this, Tritium plans to look towards Europe to build upon its growth even further.

The post Here's how Tritium (NASDAQ:DCFC) has been performing since listing in the US appeared first on The Motley Fool Australia.

Electric vehicle (EV) fast-charging company Tritium is back in view today as the company gets set for a likely Nasdaq listing this month. Currently, there are no signs of the EV charging player landing on the ASX anytime soon despite Tritium's headquarters being located in Australia.

After cementing a record-breaking fourth-quarter result, investors are eagerly awaiting the Brisbane-based company's listed future. The final stepping stone along the path of a public debut involves a shareholder vote on 12 January.

Powering towards a Nasdaq listing

Tritium's interest in becoming a publicly listed company began back in May last year. During a boom in special purpose acquisition companies (SPACs), the business partnered up with Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN).

The two companies have been working on the merger for Tritium to be taken public. After roughly eight months, the final piece of the puzzle is a shareholder vote on the proposed business combination with Tritium.

According to the company's release, DCRN shareholders will lodge their votes up until 12 January. On this date, a special meeting will be held with the final outcome of the vote to be announced. If the votes tally in favour of the merger, Tritium is expected to hit the Nasdaq days after the meeting.

Additionally, Tritium had been tagged with an estimated $2 billion valuation in June last year. Since then, the company has further grown its revenue.

ASX misses out on Tritium growth

At present, the world's second-largest fast-charging company has shared no intentions of appearing on the ASX. Instead, Tritium's future currently lies solely with the Nasdaq exchange in the United States. This is likely a reflection of the company's composition of sales.

Based on its investor presentation, 20% of Tritium's sales are made in North America. Comparatively, only 10% of the EV charging company's sales are to the Asia Pacific region. Interestingly, approximately 70% of total sales are in Europe.

For the three months ended 31 December 2021, Tritium notched up ~US$41 million in revenue. This was a record for the company and represented more than a 2.5 times increase on the prior corresponding period.

However, as Tritium CEO Jane Hunter noted, the quarter was impacted by supply chain and logistics issues.

When COVID started, it was 42 days from Australia to Europe by boat, and 35 days to North America from Australia, and we had … a ship that left in September and still has not docked in North America, which is just unheard of.

Unfortunately for ASX investors, the Tritium growth story has been out of reach, being a private company. Although, with the possibility of it listing on the Nasdaq, investors might soon have access to Tritium on a public exchange.

The post Tritium is set to list on the Nasdaq this month, but what about the ASX? appeared first on The Motley Fool Australia.

Yesterday was an electrifying day for Tritium as the fast-charging station maker for electric vehicles (EVs) opened its own world-class testing facility. Yet, Tritium isn't planning on an ASX listing anytime soon.

Accompanied by Queensland deputy premier and minister for state development Steven Miles, the Tritium team officially opened one of the world's largest and highest-powered testing facilities. The key development comes as the company readies for its Nasdaq listing.

Additionally, the opening is less than two weeks after Tritium's CEO shared an upbeat belief for an EV future. At a summit held by the Australian Financial Review, CEO Jane Hunter shared the expectation that EVs will be cheaper than internal combustion vehicles in the next four years.

Tritium brings testing capability in-house

In an exciting move for the Australian EV charging company, Tritium opened its own electromagnetic compatibility (EMC) testing chamber yesterday. In simple terms, this facility enables the testing of EV charging equipment under a wide range of conditions. Unfortunately for investors, the Tritium opportunity can't be found on the ASX.

According to the release, Tritium will be able to test both full charging systems and individual components under a range of temperatures, power loads, and impacts. For example, one of the facility's thermal chambers can produce temperatures between -70 degrees celsius and 180 degrees celsius.

This enhanced in-house capability means the company will now be able to accelerate testing, prototyping, compliance, and certification. As a result, the road from design to market for Tritium products will be much shorter.

The company highlights how many EV charger manufacturers rely on publicly accessible EMC testing facilities. Because of this, companies must book in ahead of time and wait their turn for assessing a design. This process can be strenuous and time-consuming.

Commenting on the new facility, Tritium chief technology officer and co-founder James Kennedy said:

We now have the freedom to test a charger at a moment's notice and for as long as we need, to ensure our chargers not only meet the thresholds required for compliance but exceed them.

Additionally, the facility is capable of delivering up to 720 kilowatts of regenerative power from its integrated system. This ensures the company is able to test even the most power-demanding of devices.

Tritium on the Nasdaq, not ASX

Some investors might be wondering how to get their hands on Tritium shares. Currently, the company is expected to merge with a special purpose acquisition company (SPAC) known as Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN). This is set to occur sometime between December 2021 and January 2022.

The listing has been highly anticipated since we first covered the Tritium story back in June this year. However, ASX investors who want a slice will need to keep their eyes on the US Nasdaq exchange. Until then, the EV charging company remains a private company.

The post Tritium opens world-class facility in Brisbane but still no plans for ASX listing appeared first on The Motley Fool Australia.

The CEO of Brisbane-based Tritium has voiced her belief that electric vehicles (EVs) will soon be cheaper than internal combustion cars in the next 4 years. But ASX fans might be disappointed to learn the company producing EV charging stations isn't listed on the ASX.

Tritium's CEO Jane Hunter told the Australian Financial Review's Infrastructure Summit that the cost of EVs is largely dependent on the cost of batteries and the cost of batteries is dropping.

Additionally, according to reporting by The Australian, the Federal Government's Future Fuels strategy – set to be released today – will herald the creation of a network of EV charging stations. In fact, it will reportedly see $250 million put towards the cause.

So, putting two and two together, Australia might see a boom in the number of new EVs hitting our streets soon. It follows we'll also need plenty of EV charging stations.

While ASX investors won't be buying shares in Tritium any time soon, there are a few companies working in the field that are listed – or approaching a listing – on the ASX.  

Let's take a look at which ASX shares have exposure to EV charging stations.

ASX shares exposed to EV charging stations

Tritium isn't expected to make a home on the ASX, but there are some stocks currently trading on the Aussie bourse with exposure to the charging station sector.

Ampol Ltd (ASX: ALD)

The fuel retailer might not be the first ASX share market watchers think of when seeking stocks affiliated with EV charging. Though, the company is getting started in the space.

Ampol has recently partnered with the Australian Renewable Energy Agency (ARENA) to build a network of EV fast-charging stations.

Under the partnership, Ampol will be equipping more than 100 of its service stations with EV charging stations.

The company is also collaborating with Tesla Inc (NASDAQ: TSLA) to install Tesla Powerwall battery systems at some of its service stations in Adelaide.

Right now, the Ampol share price is $31.69, 0.35% lower than it was at the end of yesterday's session.

Rectifier Technologies Limited (ASX: RFT)

This ASX-listed microcap is producing and selling EV charging stations.

The company has historically worked to create power conversion products. It currently produces a number of power modules suitable for EV charging.

However, it is in the process of releasing both an EV charger and a bi-directional EV charger.

Rectifier is having a great day on the ASX on Tuesday. At the time of writing, its share price is 4.6 cents, 28% higher than its previous close.

Honourable mention: Bell Resources

While still a way off ASX listing, Bell Resources operates Bell Hub, a company focused on building EV charging stations.

Bell Hub is planning to operate a network of "ultra-fast" charging stations, available for public use alongside car washing facilities.

The parent company also houses a green energy branch – focusing on solar – and a lithium-ion battery research and development branch.

According to Bell Resources' website, the company is planning to conduct an initial public offering (IPO) on the ASX.

The post Tritium is making news again, but do any ASX shares have exposure to EV charging stations? appeared first on The Motley Fool Australia.

Sprouting from a little Brisbane startup, Tritium Pty Ltd is metaphorically priming its charging stations for a $2.2 billion Nasdaq listing.

The company is set to merge with the special purpose acquisition company (SPAC) Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN), with the ambition of accelerating its electrifying aspirations.

A quick refresher, a SPAC is essentially a shell company that raises capital through an initial public offering (IPO). Subsequently, the SPAC will seek to merge or acquire a private company. This offers an efficient method for private companies to go public.

It started with a spark

It may come as a surprise that Tritium has been around for 20 years. The company was founded in 2001 by David Finn, James Kennedy, and Paul Sernia – then students at the University of Queensland.

After working on motor inverters that powered solar cars, the company pivoted to producing DC (direct current) fast chargers for electric vehicles (EVs). The technology implemented was fundamentally the same, but used in a different application.

Having successfully launched its first supercharging station in 2014, Tritium grew alongside the likes of EV producer Tesla Inc (NASDAQ: TSLA).

In an interview with last Thursday's Australian Financial Review, co-founder and chief growth officer Dr David Finn said:

We really were pioneers in this space. It was an interesting ride. We were trying to be a start-up in an industry that's starting up. Trying to get the timing right in that was super-challenging.

Despite the challenges, Tritium has expanded its EV charging network across 41 countries. Additionally, the company says it has now sold more than 4,400 chargers.

The Tritium Nasdaq opportunity

EVs only account for about 2.8% of light-vehicle sales globally, according to consultants McKinsey & Company, but the future looks promising. Research conducted by analysts at Deloitte shows an expected EV market share of approximately 32% by 2030.

Furthermore, this potential was reinforced by comments from Dr Finn, who said:

I can tell you the decision has been made. Every single vehicle manufacturer around the world, bar two, are 100% focused on shutting down their internal combustion engine production line and ramping up all their different models.

Tritium has some lofty expectations of its own. In the company's investor presentation, 2026 revenue projections are for $1,522 million. For context, 2020 full-year revenue came in at $59 million.

Based on the current equity valuation, Tritium's market capitalisation exceeds US-based rival Blink Charging Co (NASDAQ: BLNK), which is currently valued at A$1.85 billion.

At this stage, a definitive date for when the company will list on the NASDAQ has not been specified. However, the merger has been approved by the boards of directors of both Tritium and DCRN. The next step is now to move towards seeking shareholder approval.

The post Is Australia's Tritium set to become a $2.2 billion Nasdaq behemoth? appeared first on The Motley Fool Australia.