In September 2024, Exicom acquired the business and assets of Tritium to carry on its mission to electrify transportation. Since this announcement, we’ve received a number of inquiries from stakeholders of the former Tritium Group of companies. We’ve updated these FAQs to assist.
Tritium DCFC Limited, the pioneering EV fast charging market leader formerly listed on the Nasdaq as ‘DCFC’, entered insolvency on 18 April 2024. DCFC has been delisted from the Nasdaq. Following an extensive sale process to recover stakeholder value, including for its secured creditors, Tritium’s business and assets have been sold.
The Tritium Group of companies’ business and assets were sold as a going concern to Exicom Tele-Systems Ltd (Exicom). Exicom has not acquired shares or interests in (or liabilities of) any of the Tritium Group of companies. The transaction enables the new Exicom owned business to continue to operate globally. It provides an opportunity for suppliers and customers to restart trade with the new Exicom-owned entities operating the Tritium business on a go-forward basis.
Exicom is an Indian-based listed company that specialises in power systems, electric vehicle charging, and other related solutions. Exicom manufactures smart AC and DC fast chargers and employs approximately 1,337 people worldwide.
Many of Tritium’s key staff and management have been retained. Exicom’s CEO and executive team members are directing and governing the business together with Tritium’s management team. Recruitment is under way to establish a new CEO and CFO to drive the Tritium business forward.
No. The new Exicom-owned companies operating the Tritium business are entirely separate to the former Tritium DCFC Limited and its subsidiaries. The business and asset sale transaction did not involve acquiring any shareholdings.
The ultimate outcome to shareholders from the insolvency of Tritium DCFC Limited is not controlled by Exicom. Further information on the insolvency process for DCFC is available here.
We understand notifications have been sent to all unsecured creditors of the Tritium Group of companies by the appointed third parties who are officially administering their insolvency. These notification include details in relation to how to lodge payment claims. The new companies do not control how any claims will be ultimately administered.
Exicom is a successful decades-old business with proven leadership and governance, a strong track record for financial performance and growth across innovative sectors, and a strong market reputation. Exicom’s commitment is to ensure the new Tritium’s operational and financial stability while it continues to deliver on its mission to electrify transportation and reduce emissions throughout the world.
Yes. Exicom acquired Tritium’s production plant and equipment including the existing Tennessee, USA factory.
