Tritium minority stake acquired by Gilbarco Veeder-Root

Gilbarco Veeder-Root has taken a minority investment in Tritium in a move designed to accelerate the expansion of electric vehicle charging infrastructure

Brisbane, Australia-based Tritium launched its first DC fast charger in 2014 and currently has installations in 26 countries around the world.

“Gilbarco Veeder-Root’s interest in Tritium further validates Tritium’s capabilities and technology expertise in the EV space,” says 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 – it’s real, it’s happening and Tritium is at the forefront globally.”

Gilbarco Veeder-Root will sell all Tritium solutions, including Veefil-PK high power charging systems, which Tritium claims is capable of a full charge of an EV in under ten minutes. These high power charging systems have liquid-cooled technology and a significantly smaller footprint than other systems on the market, according to Tritium.

Martin Gafinowitz, senior vice president of Gilbarco Veeder-Root parent Fortive, adds, “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”.

The investment should enable Tritium to accelerate operational expansion in Europe and the USA.