• Deal, together with anticipated additional funding, expected to allow Tritium to further its growth in providing leading fast charging hardware and software to EV charging customers.
• The combined company’s ordinary shares and warrants are expected to commence trading on NASDAQ tomorrow under the ticker symbols “DCFC” and “DCFCW,” respectively.

BRISBANE, Australia / NEW YORK, NY, January 13, 2022 – Tritium, a global leader in direct current (“DC”) fast chargers for electric vehicles (“EVs”), today announced it has completed its previously announced business combination with Decarbonization Plus Acquisition Corporation II (“DCRN”) to take Tritium DCFC Limited (“Tritium”) public. Tritium’s ordinary shares and warrants are expected to commence trading tomorrow, January 14, 2022, on the NASDAQ, under the ticker symbols “DCFC” and “DCFCW,” respectively.

DCRN’s stockholders approved the transaction at a special meeting of stockholders held on January 12, 2022.

“Our transaction with DCRN is transformative for the acceleration of electrification,” said Tritium’s CEO, Jane Hunter. “We expect the capital raised through the transaction, together with anticipated additional funding, to support Tritium’s business operations and to help strengthen our products and services to our customers, and continue to advance the e-mobility industry. The goal in our industry is to reduce global emissions and this transaction will support our mission to electrify transportation.”

As a public company, Tritium’s position as a global leader in DC fast chargers for EVs is further strengthened. Jane Hunter, Chief Executive Officer, will continue to lead Tritium’s operations, alongside co-founders James Kennedy (Chief Technology Officer) and Dr. David Finn (Chief Vision Officer), and executives David Toomey (Chief Strategy Officer) and Michael Hipwood (Chief Financial Officer). As part of the business combination, Robert Tichio, previously the Chairman of the board of directors of DCRN, will join Tritium’s board of directors as Chairman.

“We are extremely pleased to see the completion of this business combination and to support Jane and the Tritium team as they continue to execute on their strategic growth plan as a public company,” said Robert Tichio, incoming Chairman of the board of Tritium.

EV Charging Sector Expected to Experience Significant Growth to 2040 and Beyond

With global EV sales expected to have surpassed 6.3 million last year and with global passenger EV sales expected to grow at a compound annual growth rate (CAGR) of 17% through 2040, the world’s transportation is rapidly electrifying. Sufficient public charging infrastructure will be critical to enabling this transition to e-mobility, and fast charging provides the greatest value across the EV charging value chain. Through fast charging, drivers can get back on the road within minutes instead of hours, and charge point operators are able to set prices appropriately for this premium experience.

Transaction Overview

Tritium expects the capital raised through the transaction, together with its anticipated additional funding, to help fund its growth as a technology market leader in the EV charging space, expand to three global manufacturing facilities, grow global sales and service operations teams, maintain its capital needs, and other corporate uses.

Tritium’s board of directors will be comprised of seven members, five of whom are “independent directors” under the applicable rules of the Securities and Exchange Commission (“SEC”) and NASDAQ. The Board of Directors will be led by incoming Chairman, Robert Tichio.

Advisors

Latham & Watkins LLP (US), Corrs Chambers Westgarth (Australia), and the Australian Partnership of Ernst & Young advised Tritium during the transaction and DCRN was advised by Vinson & Elkins L.L.P. (US) and Clifford Chance LLP (Australia). Credit Suisse served as the exclusive financial advisor to a consortium of certain Tritium Holdings Pty Ltd shareholders in connection with the business combination, and JPMorgan and Citigroup served as financial advisors to DCRN.

About Tritium

Founded in 2001, Tritium (NASDAQ: DCFC; DCFCW) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, visit tritiumcharging.com.

About Decarbonization Plus Acquisition Corporation II

Decarbonization Plus Acquisition Corporation II was a blank check company sponsored by an affiliate of Riverstone Holdings LLC and represents a further expansion of Riverstone’s 15-year franchise in low-carbon investments, having established industry leading, scaled companies with more than US$6 billion of equity invested in renewables.

Forward Looking Statements

Certain statements made in this document are “forward-looking statements” with respect to Tritium’s business and financing plans, the EV market and the business combination, including statements regarding Tritium’s or its management team’s expectations, objectives, beliefs, intentions or future strategies and the listing of Tritium’s securities on the NASDAQ. These forward-looking statements generally are identified by the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “targets,” “may,” “will,” “should,” “would,” “will be,” “will continue,” “will likely result,” “future,” “propose,” “strategy,” “opportunity” and variations of these words or similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or are not statements of historical matters are intended to identify forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, guarantees, assurances, predictions or definitive statements of fact or probability regarding future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of Tritium, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the inability to recognize the anticipated benefits of the business combination; the inability to obtain or maintain the listing of Tritium’s shares on the NASDAQ; the risk that the business combination disrupts current plans and operations, business relationships or business generally as a result of the consummation of the business combination; Tritium’s ability to manage growth; Tritium’s ability to execute its business plan and meet its projections; potential disruption in Tritium’s employee retention as a result of the business combination; potential litigation, governmental or regulatory proceedings, investigations or inquiries involving Tritium, including in relation to the business combination; changes in applicable laws or regulations and general economic and market conditions impacting demand for Tritium’s products and services; and other risks and uncertainties indicated from time to time in the proxy statement/prospectus relating to the business combination, including those under “Risk Factors” therein, and in Tritium’s other filings with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statement, and Tritium assumes no obligation and does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Tritium does not give any assurance that it will achieve its expectations.

Tritium Media Contact
Jack Ulrich
[email protected]

Tritium Investors Contact
Caldwell Bailey
ICR, Inc.
[email protected]

MENLO PARK, CA (January 12, 2022) – Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN) (“DCRN”), a publicly-traded special purpose acquisition company, today announced that its stockholders voted to approve the previously announced business combination with Tritium Holdings Pty Ltd (“Tritium”), and all other proposals presented at DCRN’s special meeting of stockholders (the “Special Meeting”) held on January 12, 2022. 

Approximately 96.6% of the votes cast and 58% of the outstanding shares of common stock of DCRN were in favor of approving the business combination proposal. DCRN plans to file the results of the Special Meeting, as tabulated by an independent inspector of elections, on a Form 8-K with the U.S. Securities and Exchange Commission (the “SEC”) today.

Subject to the satisfaction or waiver of the other customary closing conditions, the business combination is expected to close on January 13, 2022. The ordinary shares and warrants of Tritium DCFC Limited (“NewCo”), the going-forward public company, are expected to commence trading on the NASDAQ under the symbols “DCFC” and “DCFCW,” respectively, on January 14, 2022.

About Tritium

Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, contact us.

About Decarbonization Plus Acquisition Corporation II

Decarbonization Plus Acquisition Corporation II is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with a target whose principal effort is developing and advancing a platform that decarbonizes the most carbon-intensive sectors. These include the energy and agriculture, industrials, transportation and commercial and residential sectors. DCRN is sponsored by an affiliate of Riverstone Holdings LLC and represents a further expansion of Riverstone’s 15-year franchise in low-carbon investments, having established industry leading, scaled companies with more than $6 billion of equity invested in renewables.

Forward Looking Statements

Certain statements made in this document are “forward-looking statements” with respect to the proposed business combination, including statements regarding the anticipated timing of the closing of the business combination and the listing of NewCo securities on the NASDAQ. These forward-looking statements generally are identified by the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “targets,” “may,” “will,” “should,” “would,” “will be,” “will continue,” “will likely result,” “future,” “propose,” “strategy,” “opportunity” and variations of these words or similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or are not statements of historical matters are intended to identify forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, guarantees, assurances, predictions or definitive statements of fact or probability regarding future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of NewCo, Tritium or DCRN, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the inability to complete the business combination or the private offering of ordinary shares in the capital of NewCo to a certain investor (the “PIPE Financing”) in a timely manner or at all (including due to the failure of closing conditions), which may adversely affect the price of DCRN’s securities; the inability of the business combination to be completed by DCRN’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by DCRN; the occurrence of any event, change or other circumstance that could give rise to the termination of the proposed business combination or the PIPE Financing; the inability to recognize the anticipated benefits of the proposed business combination; the inability to obtain or maintain the listing of NewCo’s shares on a national exchange following the proposed business combination; costs related to the proposed business combination; the risk that the proposed business combination disrupts current plans and operations, business relationships or business generally as a result of the announcement and consummation of the proposed business combination; NewCo’s ability to manage growth; NewCo’s ability to execute its business plan and meet its projections; potential disruption in NewCo’s employee retention as a result of the business combination; potential litigation, governmental or regulatory proceedings, investigations or inquiries involving NewCo, Tritium or DCRN, including in relation to the business combination; changes in applicable laws or regulations and general economic and market conditions impacting demand for Tritium’s or NewCo’s products and services; and other risks and uncertainties indicated from time to time in the proxy statement/prospectus relating to the proposed business combination, including those under “Risk Factors” therein, and in DCRN’s other filings with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statement, and NewCo and DCRN assume no obligation and do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Neither NewCo nor DCRN gives any assurance that either NewCo or DCRN will achieve its expectations.

Important Information and Where to Find It

In connection with the proposed business combination, NewCo, which will be the going-forward public company, filed a registration statement on Form F-4, (as amended, the “Registration Statement”), which includes a proxy statement of DCRN.  INVESTORS AND SECURITY HOLDERS OF DCRN ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS,  (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND THE EFFECTIVE REGISTRATION STATEMENT AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT TRITIUM, DCRN, NEWCO AND THE BUSINESS COMBINATION. Investors and security holders will also be able to obtain copies of the Registration Statement and other documents containing important information about each of the companies once such documents are filed with the SEC, without charge, at the SEC’s web site at www.sec.gov.

No Offer or Solicitation

This document does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor will there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

###

DCRN Media Contact
Daniel Yunger
Kekst CNC
[email protected]         

Tritium Media Contact
Jack Ulrich
[email protected]

Tritium Investor Contact
Caldwell Bailey
ICR, Inc.
[email protected]

Menlo Park, CA (January 12, 2022) – Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN, DCRNW, DCRNU) (“DCRN”), a publicly-traded special purpose acquisition company, and Tritium Holdings Pty Ltd, an Australian proprietary company limited by shares (“Tritium”) today announced that Tritium, Tritium DCFC Limited, an Australian public company limited by shares (“NewCo”), and Hulk Merger Sub, Inc. have waived the minimum cash condition required to be satisfied at the closing of the business combination (the “Business Combination”).

Such minimum cash condition would have required the amount of funds contained in DCRN’s trust account (the “Trust Account”) (net of the aggregate amount of cash proceeds required to satisfy any exercise by DCRN’s stockholders of their redemption rights and net of DCRN’s fees and expenses incurred in connection with the Business Combination) plus the amount of cash proceeds to NewCo resulting from any private placements of ordinary shares in the capital of NewCo (the “NewCo Ordinary Shares”) consummated in connection with the closing of the Business Combination (the “Closing”), to be at least $200,000,000.

After Closing, NewCo expects to pursue additional financing in order to fund its capital needs (the “Post-Closing Financing”). NewCo also expects to receive backstop commitments from certain existing shareholders of Tritium and certain affiliates of DCRN’s sponsor (the “Sponsor”) to purchase, at the option of NewCo, an aggregate of up to $45 million of NewCo Ordinary Shares at a purchase price of $6.00 per share within a specified period of time after Closing (the “Backstop Commitment”). NewCo intends to explore various options for the Post-Closing Financing. There is no guarantee that the Post-Closing Financing will involve the Backstop Commitment.

The Closing is expected to occur on January 13, 2022. After the Closing and if the Post-Closing Financing is consummated, NewCo is expected to have a cash balance of approximately $120 million, after taking into account (i) approximately $8 million cash held by Tritium as at December 31, 2021; (ii) receipt of the funds remaining in the Trust Account after making payments due to DCRN’s shareholders that exercise their redemption rights; (iii) payment of approximately $8 million of the parties’ fees and expenses related to the Business Combination due at Closing; (iv) receipt of $15 million of proceeds from the previously announced PIPE investment (the “PIPE”); (v) receipt of $45 million of proceeds from the Post-Closing Financing; and (vi) refinancing of certain of Tritium’s existing indebtedness (and related fees and expenses) with the proceeds from the $90 million debt facility with HealthSpring Life & Health Insurance Company, Inc, Cigna Health and Life Insurance Company and Barings Target Yield Infrastructure Debt Holdco 1 S.À R.L. (the “New Debt Facility”); in each case, subject to the satisfaction, amendment or waiver of conditions applicable to the respective commitments. NewCo is expected to have outstanding approximately $35 million of deferred payments triggered by the Business Combination, which includes payment of certain share-based compensation and related taxes under Tritium’s incentive plans and repayment of a shareholder loan; $48 million of deferred fees and expenses related to the Business Combination, and approximately $90 million of long-term indebtedness, consisting of the New Debt Facility, outstanding as of the Closing.

Assuming the redemption of an estimated 35 million shares of DCRN’s Class A common stock and the shares issued pursuant to the PIPE and the Backstop Commitment, there are expected to be approximately 144.3 million NewCo Ordinary Shares outstanding following the consummation of the Business Combination. If the Post-Closing Financing involves the full Backstop Commitment, former Tritium shareholders are expected to own approximately 86.0% of the outstanding NewCo Ordinary Shares, former public stockholders of DCRN are expected to own approximately 3.6% of the outstanding NewCo Ordinary Shares, the Sponsor and its affiliates are expected to own approximately 9.3% of the outstanding NewCo Ordinary Shares, and the PIPE investor is expected to own approximately 1.0% of the outstanding NewCo Ordinary Shares.

The anticipated cash balance and ownership percentages presented herein are based on the assumptions set forth above and are subject to change based on, among other things, revocation of redemption elections; the source and amount of the Post-Closing Financing; the satisfaction or waiver of the closing conditions set forth in the New Debt Facility and the PIPE, or any amendments thereto; and any closing fees or expenses being deferred or settled in NewCo Ordinary Shares.

About Decarbonization Plus Acquisition Corporation II

Decarbonization Plus Acquisition Corporation II is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with a target whose principal effort is developing and advancing a platform that decarbonizes the most carbon-intensive sectors. These include the energy and agriculture, industrials, transportation and commercial and residential sectors. DCRN is sponsored by an affiliate of Riverstone Holdings LLC and represents a further expansion of Riverstone’s 15-year franchise in low-carbon investments, having established industry leading, scaled companies with more than $6 billion of equity invested in renewables.

About Tritium

Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, contact us.

Forward Looking Statements

Certain statements made in this document are “forward-looking statements” with respect to the proposed Business Combination and including statements regarding the Closing, NewCo’s anticipated cash balance after the Closing, estimated redemptions, the consummation of the PIPE and the Post-Closing Financing. These forward-looking statements generally are identified by the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “targets,” “may,” “will,” “should,” “would,” “will be,” “will continue,” “will likely result,” “future,” “propose,” “strategy,” “opportunity” and variations of these words or similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or are not statements of historical matters are intended to identify forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, guarantees, assurances, predictions or definitive statements of fact or probability regarding future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside NewCo’s, Tritium’s or DCRN’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the inability to complete the Business Combination, the PIPE or the Post-Closing Financing in a timely manner or at all (including due to the failure to receive required stockholder or shareholder, as applicable, approvals, or the failure of other closing conditions such as the receipt of certain governmental and regulatory approvals), which may adversely affect the price of DCRN’s securities; the inability of the Business Combination to be completed by DCRN’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by DCRN; the occurrence of any event, change or other circumstance that could give rise to the termination of the Business Combination, the PIPE or the Post-Closing Financing; the inability to recognize the anticipated benefits of the proposed Business Combination; the inability to obtain or maintain the listing of NewCo’s shares on a national exchange following the proposed Business Combination; costs related to the proposed Business Combination; the risk that the proposed Business Combination disrupts current plans and operations, business relationships or business generally as a result of the announcement and consummation of the proposed Business Combination; NewCo’s ability to manage growth; NewCo’s ability to execute its business plan and meet its projections; potential disruption in NewCo’s employee retention as a result of the Business Combination; potential litigation, governmental or regulatory proceedings, investigations or inquiries involving NewCo, Tritium or DCRN, including in relation to the Business Combination; changes in applicable laws or regulations and general economic and market conditions impacting demand for Tritium’s or NewCo’s products and services; and other risks and uncertainties indicated from time to time in the proxy statement/prospectus relating to the proposed Business Combination, including those under “Risk Factors” therein, and in DCRN’s other filings with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and NewCo and DCRN assume no obligation and do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Neither NewCo nor DCRN gives any assurance that either NewCo or DCRN will achieve its expectations.

Additional Information about the Business Combination and Where to Find It

In connection with the proposed business combination, NewCo, which will be the going-forward public company, filed a registration statement on Form F-4, (as amended, the “Registration Statement”), which includes a proxy statement of DCRN. The Registration Statement is now effective, and a definitive proxy statement (the “Proxy Statement”) has been mailed to DCRN stockholders of record as of the close of business on December 6, 2021. INVESTORS AND SECURITY HOLDERS OF DCRN ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND THE EFFECTIVE REGISTRATION STATEMENT AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT TRITIUM, DCRN, NEWCO AND THE BUSINESS COMBINATION. Investors and security holders will also be able to obtain copies of the Registration Statement and other documents containing important information about each of the companies once such documents are filed with the SEC, without charge, at the SEC’s web site at www.sec.gov.

Participants in the Solicitation

DCRN and its directors and executive officers may be deemed participants in the solicitation of proxies from DCRN’s stockholders with respect to the proposed business combination. A list of the names of those directors and executive officers and a description of their interests in DCRN is contained in DCRN’s filings with the SEC, including DCRN’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 31, 2021, and is available free of charge at the SEC’s web site at www.sec.gov. Additional information regarding the interests of such participants is set forth in the Registration Statement for the proposed business combination. NewCo and Tritium and their respective directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of DCRN in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the business combination is contained in the Registration Statement for the proposed business combination.

No Offer or Solicitation

This document does not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. This document also does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor will there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

###

DCRN Media Contact
Daniel Yunger
Kekst CNC
[email protected]

Tritium Media Contact
Jack Ulrich
[email protected]

Tritium Investor Contact
Caldwell Bailey
ICR, Inc.
[email protected]

Company reports second half 2021 sales of $98 million, an increase of 416% year over year; record contracted backlog at year end, representing over 48% of the Company’s 2022 revenue target; and issues formal revenue guidance of $170 million for 2022, consistent with prior forecast.

Tritium announces it is in the final stages of site selection for its new U.S. factory; the Company expects an announcement in the first quarter of 2022 with production expected to start in third quarter 2022.

BRISBANE, Australia, January 4, 2022 – Tritium Holdings Pty Ltd (“Tritium” or the “Company”), a global developer and manufacturer of direct current (“DC”) fast chargers for electric vehicles (“EVs”), today announced record sales, backlog and revenue results for and as of the year ended December 31, 2021, and provided a business update. Except as otherwise indicated or unless the context otherwise requires, all financial figures are in U.S. dollars and references herein to “quarter,” “year,” “2020,” “2021” or “2022” are to the relevant calendar period.

For the three months ended December 31, 2021, Tritium booked revenue of approximately $41 million, equivalent to a last quarter annualized (LQA) run-rate of $164 million, and set a new quarterly record. The Company more than doubled its Q3 2021 revenue, the next largest quarterly revenue in its 19-year operating history, and achieved more than 2.5x revenue compared to the fourth quarter of 2020.

For 2021, revenue was approximately $78 million, which is only slightly lower than the previous forecast of $84 million, due in large part to logistics and supply chain challenges, including delays at the ports of Long Beach and Los Angeles, which delayed certain product deliveries at year end. Tritium expects to record those revenues as products are received by customers in the first quarter of 2022. As reported by CNBC, the twin ports of Long Beach and Los Angeles account for 40% of sea freight entering the United States, and the back-up escalated throughout the year. Tritium has begun to see supply chain constraints ease, with these ports reporting a 33% decline in lingering cargo containers in December 2021 compared to November 2021. The Company expects 2021 EBITDA and Free Cash Flow to be approximately $(39) million and $(43) million, respectively.

Underscoring the record demand for Tritium’s products, sales for 2021 were $141 million, which represents more than a 136% increase over 2020 sales of $60 million. The Company’s sales grew significantly in the second half of 2021 to $98 million, an increase of 416% compared to the second half result of $19 million the previous year.

Tritium believes that this growth in sales substantiates its thesis that DC fast charging infrastructure is rolling out at an accelerating pace to support the rapid shift towards electric vehicles globally. Tritium enters 2022 with the largest year-opening order book in its history. Tritium’s backlog continued to grow throughout 2021, ending at approximately $82 million, an increase of approximately 316% since year end 2020. This backlog is expected to be completely delivered in 2022, and is now expected to account for over 48% of Tritium’s 2022 revenue guidance, or approximately 5 months of forward production capacity at current production levels. Tritium continues to be engaged in a number of additional and potentially high-impact orders under several of its recently announced commercial partnerships and tender wins, and is expanding production capacity to fulfill growing demand in the United States and Europe.

Other recent business highlights include:

• Won a Shell global EV charging tender to provide fast charging technology and services to the world’s largest mobility retailer with over 46,000 retail sites. This agreement is expected to help accelerate the supply of Tritium DC fast chargers to their business operations in Europe, South Africa, Asia, the Middle East and North America, in pursuit of Shell’s ambition to operate 500,000 charge points by 2025 and 2,500,000 by 2030.
• Refinanced $90 million of debt out to 2024, giving Tritium more cash following the listing on the Nasdaq to invest in its business to maintain and increase growth in line with the Company’s customers’ rollout plans, conditional on closing of the business combination.
• Unveiled the PKM, a groundbreaking line of EV fast chargers designed for more cost-effective operations and infrastructure deployment. The PKM150 is the first charger in the PKM line and the first charger that utilizes Tritium’s shared power system, designed to reduce customers’ capital investment while maintaining high charger availability and power output to EVs. Like Tritium’s successful predecessor product launches, the PKM system was developed in response to customer demand pull for its features.
• Opened a world-class EV charger testing facility, featuring one of the highest power commercially accessible electromagnetic compatibility (“EMC”) testing chambers in the world, with thermal testing capable of producing temperatures ranging from -70°C (-94°F) to +180°C (+356°F), and more to accelerate the time-to-market for new products.
• Tritium is in advanced stages of site selection for its new U.S. factory, expected to increase the Company’s global production capacity up threefold in 2022. Two states – Texas and Tennessee – are the finalists in this process, and the Company expects an announcement in the first quarter of 2022 as engagement with private and public sector representatives related to this process nears conclusion.
• As of December 31, 2021, Tritium had sold more than 6,700 DC fast chargers around the world, compared to the more than 4,400 DC fast chargers sold as of May 26, 2021, the time of the announcement of the business combination.

Business Combination Update

The special meeting of stockholders of Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN, DCRNW, DCRNU) (“DCRN”) to approve the proposed business combination with Tritium, among other related matters, is scheduled to be held on Wednesday, January 12, 2022 at 10:00am Eastern time.

Credit Suisse Securities (USA) LLC (“Credit Suisse”) is acting as the exclusive financial advisor to a consortium of certain Tritium shareholders in connection with the business combination between Tritium and DCRN. DCRN engaged Credit Suisse as its lead placement agent and Citi Global Markets (“Citi”) and J.P. Morgan Securities LLC (“JPMorgan”) as placement agents for its PIPE Financing (as defined below). Raymond James & Associates, Inc. (“Raymond James”) is acting as Capital Markets Advisor for DCRN. Citi and JPMorgan are acting as financial advisors to DCRN.

The board of directors of DCRN has unanimously recommended stockholders vote in favor of the proposed business combination, which values Tritium at approximately $1.2 billion. As of market close on Monday, January 3, 2022, based on publicly available information as illustrated in the table below, Tritium continues to be valued at a significant discount to the publicly traded, pure-play EV charging peers.

Tritium believes that its target customers are in the midst of an aggressive and historic build cycle. Unlike many of the alternative investment opportunities in the EV charging category, Tritium’s cash flow profile benefits from revenue realization at the time of sale, paired with associated service and recurring software revenue in the future. In an environment of rising interest rates, Tritium believes this business model will resonate with public equity investors seeking exposure to manufacturers, producers and suppliers to the EV thematic.

Fast chargers are emerging as an essential tool to address range anxiety while also providing drivers with a recharging experience that is most analogous to their refueling experience. Tritium believes its technology-advantaged hardware alongside its growing commitment to the services and software offerings presents a compelling value for charge point operators; forecourt fuel, gas and petrol stations; and retail, restaurant and residential complexes looking to install DC fast chargers. Contribution from those critical categories continued to expand in 2021, and Tritium expects the positive impact from the charging infrastructure and hardware buildout to become increasingly evident in 2023 and 2024 financial results. This strategy is consistent with Tritium’s strategy and customer-serving thesis, and the deepening of the Company’s existing relationships with partners such as Shell and Ionity, in addition to new relationships with partners such as Osprey and Aqua superPower, is validating the position Tritium enjoys in performance, reliability, visual display and modularity relative to competitor offerings.

The Company expects to furnish its consolidated financial statements as of and for the six months ended December 31, 2021 in future filings by Tritium DCFC Limited (“NewCo”) with the U.S. Securities and Exchange Commission (the “SEC”) assuming consummation of the business combination. Figures originally reported in Australian dollars were translated into U.S. dollars for the purposes of this press release using the average AUD/USD foreign exchange rates for historical periods.

About Tritium

Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

As announced on May 26, 2021, Tritium has entered into a definitive agreement for a business combination with Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN, DCRNW, DCRNU), a publicly traded special purpose acquisition company (SPAC), that would result in NewCo becoming publicly listed. Completion of the proposed transaction is subject to customary closing conditions, including approval of DCRN’s stockholders, and is currently expected to occur in January 2022.

For more information, contact us.

About Decarbonization Plus Acquisition Corporation II

Decarbonization Plus Acquisition Corporation II is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with a target whose principal effort is developing and advancing a platform that decarbonizes the most carbon-intensive sectors. These include the energy and agriculture, industrials, transportation and commercial and residential sectors. DCRN is sponsored by an affiliate of Riverstone Holdings LLC and represents a further expansion of Riverstone’s 15-year franchise in low-carbon investments, having established industry leading, scaled companies with more than US$6 billion of equity invested in renewables.

Forward Looking Statements

Certain statements made in this document are “forward-looking statements” with respect to Tritium’s future financial or operating performance, growth strategy, sales performance, the proposed business combination and including statements regarding the commencement of mailing of the definitive proxy statement (the “Proxy Statement”) of DCRN, the special meeting of DCRN stockholders and the anticipated timing of the closing of the business combination. These forward-looking statements generally are identified by the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “targets,” “may,” “will,” “should,” “would,” “will be,” “will continue,” “will likely result,” “future,” “propose,” “strategy,” “opportunity” and variations of these words or similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or are not statements of historical matters are intended to identify forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, guarantees, assurances, predictions or definitive statements of fact or probability regarding future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the control of NewCo, Tritium or DCRN, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the inability to complete the business combination or the private offering of ordinary shares in the capital of NewCo to a certain investor (the “PIPE Financing”) in a timely manner or at all (including due to the failure to receive required stockholder or shareholder, as applicable, approvals, or the failure of other closing conditions such as the satisfaction of the minimum trust account amount following redemptions by DCRN’s public stockholders, and the receipt of certain governmental and regulatory approvals), which may adversely affect the price of DCRN’s securities; the inability of the business combination to be completed by DCRN’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by DCRN; the occurrence of any event, change or other circumstance that could give rise to the termination of the proposed business combination or the PIPE Financing; the inability to recognize the anticipated benefits of the proposed business combination; the inability to obtain or maintain the listing of NewCo’s shares on a national exchange following the proposed business combination; costs related to the proposed business combination; the risk that the proposed business combination disrupts current plans and operations, business relationships or business generally as a result of the announcement and consummation of the proposed business combination; NewCo’s ability to manage growth; NewCo’s ability to execute its business plan and meet its projections; the adoption and demand for electric vehicles including the success of alternative fuels, changes to rebates, tax credits and the impact of government incentives; the accuracy of Tritium’s forecasts and projections including those regarding its market opportunity; competition; risks related to health pandemics including those of COVID-19; disruptions in Tritium’s or NewCo’s supply chain, shipping, logistics or manufacturing processes; Tritium’s or NewCo’s reliance on the third-parties outside of its control; risks related to Tritium’s technology, intellectual property and infrastructure; foreign exchange fluctuations; potential disruption in NewCo’s employee retention as a result of the business combination; potential litigation, governmental or regulatory proceedings, investigations or inquiries involving NewCo, Tritium or DCRN, including in relation to the business combination; changes in applicable laws or regulations and general economic and market conditions impacting demand for Tritium’s or NewCo’s products and services; and other risks and uncertainties indicated from time to time in the proxy statement/prospectus relating to the proposed business combination, including those under “Risk Factors” therein, and in DCRN’s other filings with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statement, and NewCo and DCRN assume no obligation and do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Neither NewCo nor DCRN gives any assurance that either NewCo or DCRN will achieve its expectations.

Additional Information about the Business Combination and Where to Find It

In connection with the proposed business combination, NewCo, which will be the going-forward public company, filed the Registration Statement, which includes a preliminary proxy statement of DCRN. The Registration Statement is now effective, and the Proxy Statement has been mailed to DCRN stockholders of record as of the close of business on December 6, 2021. INVESTORS AND SECURITY HOLDERS OF DCRN ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND THE EFFECTIVE REGISTRATION STATEMENT AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT TRITIUM, DCRN, NEWCO AND THE BUSINESS COMBINATION. Investors and security holders will also be able to obtain copies of the Registration Statement and other documents containing important information about each of the companies once such documents are filed with the SEC, without charge, at the SEC’s web site at www.sec.gov.

Participants in the Solicitation

DCRN and its directors and executive officers may be deemed participants in the solicitation of proxies from DCRN’s stockholders with respect to the proposed business combination. A list of the names of those directors and executive officers and a description of their interests in DCRN is contained in DCRN’s filings with the SEC, including DCRN’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 31, 2021, and is available free of charge at the SEC’s web site at www.sec.gov. Additional information regarding the interests of such participants is set forth in the Registration Statement for the proposed business combination. NewCo and Tritium and their respective directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of DCRN in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the business combination is contained in the Registration Statement for the proposed business combination.

No Offer or Solicitation

This document does not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. This document also does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor will there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

Use of Non-GAAP Financial Measures

Tritium has provided in this press release financial information that has not been prepared in accordance with generally accepted accounting principles in the United States (“GAAP”), namely expected EBITDA and Free Cash Flow for the year ended December 31, 2021. The Company uses non-GAAP financial measures internally in analyzing its financial results and believes that the use of these non-GAAP financial measures are useful to investors to evaluate ongoing operating results and trends, and in comparing the Company’s financial results with other companies in its industry, many of which present similar non-GAAP financial measures.

The presentation of these non-GAAP financial measures is not meant to be considered in isolation or as a substitute for comparable GAAP financial measures and should be read only in conjunction with the Company’s consolidated financial statements prepared in accordance with GAAP, which NewCo expects to provide in its future filings with the SEC assuming consummation of the business combination. Due to the high variability and difficulty in accurately determining of some of the information to be excluded from EBITDA and Free Cash Flow for the year ended December 31, 2021 as of the date of this press release, together with some of the excluded information not being ascertainable or accessible as of the date of this press release, the Company is unable to accurately quantify certain amounts that would be required to be included in the most directly comparable GAAP financial measures without unreasonable effort. Consequently, no disclosure of estimated comparable GAAP measures is included and no reconciliation of EBITDA or Free Cash Flow is included.

EBITDA. Tritium defines EBITDA as net loss before interest income or expense, income tax expense or benefit, and depreciation and amortization.

Free Cash Flow. Tritium defines Free Cash Flow is defined as EBITDA less Capital Expenditures and change in Net Working Capital.

Investors are cautioned that there are a number of limitations associated with the use of non-GAAP financial measures to analyze financial results and trends. In particular, many of the adjustments to Tritium’s GAAP financial measures reflect the exclusion of items that are recurring and will be reflected in its financial results for the foreseeable future. Furthermore, these non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP, and the components that Tritium excludes in its calculation of these non-GAAP financial measures may differ from the components that other companies exclude when they report their non-GAAP financial results. Tritium compensates for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP financial measures. In the future, the Company may also exclude other expenses it determines do not reflect the performance of the Company’s operating results.

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Tritium Media Contact
Jack Ulrich
[email protected]

Tritium Investor Contact
Caldwell Bailey
ICR, Inc.
[email protected]

DCRN Media Contact
Daniel Yunger
Kekst CNC
[email protected]

Menlo Park, CA (December 27, 2021) – Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN) (“DCRN”), a publicly-traded special purpose acquisition company, reminds its stockholders to vote in favor of the previously announced business combination with Tritium Holdings Pty Ltd (“Tritium”), a leading global developer and manufacturer of direct current (“DC”) fast charging technology for electric vehicles.

DCRN has commenced mailing of its definitive proxy statement (the “Proxy Statement”) and a notice and voting instruction form or a proxy card relating to the special meeting of the DCRN stockholders (the “Special Meeting”) to DCRN stockholders of record as of the close of business on December 6, 2021 (the “Record Date”), who will be entitled to attend and participate in the Special Meeting.

The Special Meeting to approve the proposed business combination and related matters is scheduled to be held on January 12, 2022 at 10:00 a.m. Eastern time. The Special Meeting will be conducted completely virtually, and can be accessed via live webcast at https://www.cstproxy.com/decarbonizationplusacquisitionii/2021.

Additional information on how stockholders of record may vote their shares can be found at: https://dcrbplus.com/home/investor-relations/dcrb-ii/.

Every stockholder’s vote is important, regardless of the number of shares held. Accordingly, all DCRN stockholders who held shares as of the Record Date and have not yet voted are encouraged to do so as soon as possible so that their votes are received by DCRN prior to the deadlines set forth below. For the avoidance of doubt, DCRN stockholders who owned shares as of the Record Date and subsequently sold all or a portion of their shares are STILL entitled to vote, and are encouraged to do so.

DCRN’s board of directors recommends you vote “FOR” the business combination with Tritium and “FOR” all of the related proposals described in the Proxy Statement filed by DCRN with the Securities and Exchange Commission (“SEC”) on December 21, 2021.

These are the two easiest and fastest ways to vote – and they are both free:

• Vote Online (Highly Recommended): Follow the instructions provided on the proxy card that was mailed to you, if you are a holder of record, or provided by your broker, bank or other nominee on the Voting Instruction Form mailed (or e-mailed) to you, if you hold your shares “in street name.” To vote online, you will need your voting control number, which you can find on your proxy card or the Voting Instruction Form provided by your broker, bank or other nominee. Votes submitted electronically over the Internet must be received by 11:59 p.m., Eastern time, on January 11, 2022. However, if you hold your shares through a broker, bank or other nominee, they may have an earlier deadline to receive your vote.

• Vote at the Meeting: Follow the instructions provided by your broker, bank or other nominee on the Voting Instruction Form mailed (or e-mailed) to you. If you plan to attend the online Special Meeting, you will need your 12-digit voting control number to vote electronically at the Special Meeting. You can find your control number and the address for the Special Meeting on your proxy card or the Voting Instruction Form provided by your brokers, bank or nominee. 

Additionally, you can also vote by mail:

• Vote by Mail: Follow the instructions provided on the proxy card that was mailed to you, if you are a holder of record, or provided by your broker, bank or other nominee on the Voting Instruction Form mailed or e-mailed to you. You will need your voting control number which is included on the proxy card or Voting Instruction Form, as applicable, in order to vote by mail. Please be sure to, (1) mark, sign and date your proxy card or Voting Instruction Form, (2) fold and return your proxy card or Voting Instruction Form in the postage-paid envelope provided or through any other means described in your Voting Instruction Form, and (3) mail your proxy card or Voting Instruction Form to ensure receipt on or before 10:00 a.m., Eastern Time on January 12, 2022

YOUR CONTROL NUMBER IS FOUND ON YOUR PROXY CARD OR VOTING INSTRUCTION FORM. If you did not receive or misplaced your Voting Instruction Form, contact your bank, broker or other nominee to obtain your control number in order to vote. A bank, broker or other nominee is a person or firm that acts as an intermediary between an investor and the stock exchange who can help you vote your shares.

If any individual DCRN stockholder who held shares as of the Record Date does not receive the Proxy Statement, such stockholder should (i) confirm their Proxy Statement’s status with their broker, (ii) contact Morrow Sodali LLC, DCRN’s proxy solicitor, for assistance via e-mail at [email protected] or toll-free call at (800) 662-5200 (banks and brokers can place a collect call to Morrow Sodali at (203) 658-9400), or (iii) contact DCRN by mail at Decarbonization Plus Acquisition Corporation II at 2744 Sand Hill Road, Suite 100, Menlo Park, California, 94025.

About Decarbonization Plus Acquisition Corporation II

Decarbonization Plus Acquisition Corporation II is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with a target whose principal effort is developing and advancing a platform that decarbonizes the most carbon-intensive sectors. These include the energy and agriculture, industrials, transportation and commercial and residential sectors. DCRN is sponsored by an affiliate of Riverstone Holdings LLC and represents a further expansion of Riverstone’s 15-year franchise in low-carbon investments, having established industry leading, scaled companies with more than $5 billion of equity invested in renewables.

About Tritium

Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, contact us.

Important Information and Where to Find It

In connection with the proposed business combination, Tritium DCFC Limited (“NewCo”), which will be the going-forward public company, filed a preliminary registration statement on Form F-4, (as amended, the “Registration Statement”), which includes a preliminary proxy statement of DCRN. The Registration Statement is now effective, and a definitive proxy statement has been mailed to DCRN stockholders of record as of the close of business on December 6, 2021. INVESTORS AND SECURITY HOLDERS OF DCRN ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND THE EFFECTIVE REGISTRATION STATEMENT AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN IMPORTANT INFORMATION ABOUT TRITIUM, DCRN, NEWCO AND THE BUSINESS COMBINATION. Investors and security holders will also be able to obtain copies of the Registration Statement and other documents containing important information about each of the companies once such documents are filed with the SEC, without charge, at the SEC’s web site at www.sec.gov.

Participants in the Solicitation

DCRN and its directors and executive officers may be deemed participants in the solicitation of proxies from DCRN’s stockholders with respect to the proposed business combination. A list of the names of those directors and executive officers and a description of their interests in DCRN is contained in DCRN’s filings with the SEC, including DCRN’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 31, 2021, and is available free of charge at the SEC’s web site at www.sec.gov. Additional information regarding the interests of such participants is set forth in the Registration Statement for the proposed business combination. NewCo and Tritium and their respective directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of DCRN in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the business combination is contained in the Registration Statement for the proposed business combination.

No Offer or Solicitation

This document does not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. This document also does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor will there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

Forward Looking Statements

Certain statements made in this document are “forward-looking statements” with respect to the proposed business combination and including statements regarding the Special Meeting and the anticipated timing of the closing of the business combination. These forward-looking statements generally are identified by the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “targets,” “may,” “will,” “should,” “would,” “will be,” “will continue,” “will likely result,” “future,” “propose,” “strategy,” “opportunity” and variations of these words or similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or are not statements of historical matters are intended to identify forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, guarantees, assurances, predictions or definitive statements of fact or probability regarding future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside NewCo’s, Tritium’s or DCRN’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the inability to complete the business combination or the private offering of ordinary shares in the capital of NewCo to a certain investor (the “PIPE Financing”) in a timely manner or at all (including due to the failure to receive required stockholder or shareholder, as applicable, approvals, or the failure of other closing conditions such as the satisfaction of the minimum trust account amount following redemptions by DCRN’s public stockholders, and the receipt of certain governmental and regulatory approvals), which may adversely affect the price of DCRN’s securities; the inability of the business combination to be completed by DCRN’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by DCRN; the occurrence of any event, change or other circumstance that could give rise to the termination of the proposed business combination or the PIPE Financing; the inability to recognize the anticipated benefits of the proposed business combination; the inability to obtain or maintain the listing of NewCo’s shares on a national exchange following the proposed business combination; costs related to the proposed business combination; the risk that the proposed business combination disrupts current plans and operations, business relationships or business generally as a result of the announcement and consummation of the proposed business combination; NewCo’s ability to manage growth; NewCo’s ability to execute its business plan and meet its projections; potential disruption in NewCo’s employee retention as a result of the business combination; potential litigation, governmental or regulatory proceedings, investigations or inquiries involving NewCo, Tritium or DCRN, including in relation to the business combination; changes in applicable laws or regulations and general economic and market conditions impacting demand for Tritium’s or NewCo’s products and services; and other risks and uncertainties indicated from time to time in the proxy statement/prospectus relating to the proposed business combination, including those under “Risk Factors” therein, and in DCRN’s other filings with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statement, and NewCo and DCRN assume no obligation and do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Neither NewCo nor DCRN gives any assurance that either NewCo or DCRN will achieve its expectations.

###

DCRN Media Contact
Daniel Yunger
Kekst CNC
[email protected]          

Tritium Media Contact
Jack Ulrich
[email protected]

Tritium Investors Contact
Caldwell Bailey
ICR, Inc.
[email protected]

London, United Kingdom, December 22, 2021 — The first marine fast charging network operator, Aqua superPower (“Aqua”), and Tritium Holdings Pty Ltd (“Tritium” or the “Company”), a leading global developer and manufacturer of direct current (“DC”) fast charging technology for electric vehicles (“EVs”), today announced a strategic partnership to electrify transportation on global waterways. Aqua superpower has been rolling out its network of marine fast chargers, with recent installations along the Cote d’Azur and the Italian Riviera, another in Venice, and a further 150 chargers planned next year, with substantial deployment growth to come thereafter.

As the electric mobility revolution continues to take hold on the roads and in the skies, the shift towards electrification is also gathering pace across the marine world. Aqua superpower supports marinas, boat builders and boat owners in the drive to bring electric power to the water and reduce the impact of boating on marine ecosystems. As the demand for marine charging infrastructure grows, Aqua is collaborating with Tritium, a global leader in DC fast charging hardware and software, to deliver the first global marine-specialised fast charging network.

“We elected to work with Tritium for their forward-thinking technology, cutting-edge hardware architecture, and operational cost benefits,” said Aqua superPower’s CEO, Alex Bamberg. “The requirement for a joined-up network of reliable and fast marine chargers to create charging hubs and corridors for electric boat users is absolutely crucial if we are to secure the transition away from liquid carbon fuels. The fully sealed design of Tritium’s DC fast chargers and clarity of the user interface inherently provide the robustness and ease of use needed in the marine and freshwater environment.”

The charging speed provided by DC fast chargers is critical to the growth prospects of the e-boat industry. Aqua’s strategy is to supply reliable, high-speed charging to commercial and recreational marine craft users internationally.

Tritium’s IP65-rated technology provides the fully sealed, safe, and reliable charge that e-boat drivers need. The company’s RTM fast charger model was an ideal solution for Aqua with its twin CCS ports and simultaneous charging capability, enabling boat owners to spend less time charging. This is of particular advantage to commercial and working boat owners and operators, as the more frequent duty cycles made possible by the chargers make e-boat technology both more efficient and more beneficial for the environments in which it is used.

“The existing high-profile installations in Monaco, Portofino and Venice, together with other planned Aqua superPower and Tritium projects around the world, will support the electrification of marine transportation going forward. In the same way that passenger vehicles have reached the tipping point, the future for boating is an electrified fleet,” said Tritium’s CEO, Jane Hunter. “The Aqua team comes with experience in creating fast charging networks. We are delighted to work with them as a marine channel partner and provide the technology to help them pursue their goal for a dedicated marine fast charge network.”

Tritium’s robust, sealed-against-the-elements hardware combines seamlessly with Aqua superPower’s network and user management technology. The marine e-mobility ecosystem requires an easy and reliable user interface providing clear guidance to recharging points if adoption is to become widespread.

Aqua superPower’s network is accessible to marine users via the Aqua secure app, RFID card and contactless payment, with ‘Plug and Charge’ technology expected to be available in the future. The app will enable users to view a map showing charger options and offer navigational aids to guide them to their chosen location.

Aqua’s adoption of Tritium’s technology will promote its mission to reduce the impact of boating on the marine environment by developing an all-electric and integrated global ecosystem of marine fast chargers. The collaboration will expand clean commercial water transport beyond luxury yachts, to ferries, shuttles, and watercraft used for everything from laundry and food delivery to fishing and passenger transport.

End

About Tritium

Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

As announced on May 26, 2021, Tritium has entered into a definitive agreement for a business combination with Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN, DCRNW, DCRNU) (“DCRN”), a publicly traded special purpose acquisition company (SPAC), that would result in Tritium DCFC Limited (“NewCo”), which will be the going-forward company, becoming publicly listed. Completion of the proposed transaction is subject to customary closing conditions, including approval of DCRN’s stockholders, and is expected to occur in January 2022.

For more information, contact us.

About Aqua superPower

Aqua superPower is the first fully marinised dockside network of fast chargers for electric boats. Each station provides AC and DC charging with a current maximum power output of 150 kW, allowing DC compatible powerboats to rapidly recharge and extend their autonomy. Aqua has developed the first supercharger specifically engineered and rated for use in marine environments. Built to IP65 standards and constructed using Hydro CIRCAL recycled aluminium, Aqua superPower is a revolutionary and environmentally conscious marine charging solution.

Aqua superPoweris the first fast charge network company awarded a grant under the Clean Maritime Demonstration Competition, funded by the UK Department for Transport, and delivered with Innovate UK. Led by the University of Plymouth with Plymouth City Council, Princess Yachts Limited and Aqua SuperPower as Technology Partner, Plymouth’s Marine e-Charging Living Lab (MeLL) will host the UK’s first charging network for electric maritime vessels. Aqua superPower’s marine fast charge technology and the MeLL project were show cased at COP26 Glasgow.

The global electric boat market is expected to be worth over $20 billion by 2027. There are currently over 30 million recreational boats in the world. According to Aqua superPower, assuming the boat market continues to grow in line with historical trends, it is likely there will be more than 1 million electric boats by 2030. Regulation will accelerate this trend. More and more areas will only be accessible to electric boats.  

Source: IDTechEx, Electric Boats and Ships 2017-2027; Aqua estimates

For more information visit: www.aqua-superpower.com

About Decarbonization Plus Acquisition Corporation II

Decarbonization Plus Acquisition Corporation II is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with a target whose principal effort is developing and advancing a platform that decarbonizes the most carbon-intensive sectors. These include the energy and agriculture, industrials, transportation and commercial and residential sectors. DCRN is sponsored by an affiliate of Riverstone Holdings LLC and represents a further expansion of Riverstone’s 15-year franchise in low-carbon investments, having established industry leading, scaled companies with more than US$5 billion of equity invested in renewables.

Forward Looking Statements

Certain statements made in this document are “forward-looking statements” with respect to the commencement of mailing of DCRN’s definitive proxy statement (the “Proxy Statement”), the special meeting of DCRN’s shareholders, the closing of the proposed business combination and including statements regarding the benefits of the business combination, the anticipated timing of the business combination, the services offered by Tritium and the markets in which it operates, and NewCo’s projected future results. These forward-looking statements generally are identified by the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “targets,” “may,” “will,” “should,” “would,” “will be,” “will continue,” “will likely result,” “future,” “propose,” “strategy,” “opportunity” and variations of these words or similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or are not statements of historical matters are intended to identify forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, guarantees, assurances, predictions or definitive statements of fact or probability regarding future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside NewCo’s, Tritium’s or DCRN’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the inability to complete the business combination or the private offering of ordinary shares in the capital of NewCo to a certain investor (the “PIPE Financing”) in a timely manner or at all (including due to the failure to receive required stockholder or shareholder, as applicable, approvals, or the failure of other closing conditions such as the satisfaction of the minimum trust account amount following redemptions by DCRN’s public stockholders, and the receipt of certain governmental and regulatory approvals), which may adversely affect the price of DCRN’s securities; the inability of the business combination to be completed by DCRN’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by DCRN; the occurrence of any event, change or other circumstance that could give rise to the termination of the proposed business combination or the PIPE Financing; the inability to recognize the anticipated benefits of the proposed business combination; the inability to obtain or maintain the listing of NewCo’s shares on a national exchange following the proposed business combination; costs related to the proposed business combination; the risk that the proposed business combination disrupts current plans and operations, business relationships or business generally as a result of the announcement and consummation of the proposed business combination; NewCo’s ability to manage growth; NewCo’s ability to execute its business plan and meet its projections; potential disruption in NewCo’s employee retention as a result of the business combination; potential litigation, governmental or regulatory proceedings, investigations or inquiries involving NewCo, Tritium or DCRN, including in relation to the business combination; changes in applicable laws or regulations and general economic and market conditions impacting demand for Tritium’s or NewCo’s products and services; and other risks and uncertainties indicated from time to time in the proxy statement/prospectus relating to the proposed business combination, including those under “Risk Factors” therein, and in DCRN’s other filings with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statement, and NewCo and DCRN assume no obligation and do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Neither NewCo nor DCRN gives any assurance that either NewCo or DCRN will achieve its expectations.

Important Information and Where to Find It

In connection with the proposed business combination, NewCo, which will be the going-forward public company, filed a preliminary registration statement on Form F-4, (as amended, the “Registration Statement”) with the U.S. Securities and Exchange Commission (the “SEC”), which includes a preliminary proxy statement of DCRN. The Registration Statement is now effective, and the Proxy Statement will be mailed to DCRN stockholders of record as of the close of business on December 6, 2021. INVESTORS AND SECURITY HOLDERS OF DCRN ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND THE EFFECTIVE REGISTRATION STATEMENT AND OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TRITIUM, DCRN, NEWCO AND THE BUSINESS COMBINATION. Investors and security holders will also be able to obtain copies of the Registration Statement and other documents containing important information about each of the companies once such documents are filed with the SEC, without charge, at the SEC’s web site at www.sec.gov.

Participants in the Solicitation

DCRN and its directors and executive officers may be deemed participants in the solicitation of proxies from DCRN’s stockholders with respect to the proposed business combination. A list of the names of those directors and executive officers and a description of their interests in DCRN is contained in DCRN’s filings with the SEC, including DCRN’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 31, 2021, and is available free of charge at the SEC’s web site at www.sec.gov. Additional information regarding the interests of such participants is set forth in the Registration Statement for the proposed business combination when available. NewCo and Tritium and their respective directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of DCRN in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the business combination is contained in the Registration Statement for the proposed business combination when available.

No Offer or Solicitation

This document does not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. This document also does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor will there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

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Tritium Media Contact
Jack Ulrich
[email protected]

Tritium Investor Contact
Caldwell Bailey
ICR, Inc.
[email protected] 

Menlo Park, CA and Brisbane, Australia (December 21, 2021) – Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN, DCRNW, DCRNU) (“DCRN”), a publicly-traded special purpose acquisition company, announced today that DCRN’s definitive proxy statement (the “Proxy Statement”) relating to the previously announced business combination with Tritium Holdings Pty Ltd (“Tritium”), a leading global developer and manufacturer of direct current (“DC”) fast charging technology for electric vehicles, has been filed with the U.S. Securities and Exchange Commission (the “SEC”) on December 21, 2021. 

DCRN is preparing to commence mailing of the Proxy Statement and a notice and voting instruction form or a proxy card relating to the special meeting of DCRN stockholders (the “Special Meeting”) to DCRN stockholders of record as of the close of business on December 6, 2021, who will be entitled to attend and participate in the Special Meeting.

The Special Meeting to approve the proposed business combination and related matters is scheduled to be held on January 12, 2022 at 10:00 a.m. Eastern time. The Special Meeting will be conducted completely virtually, and can be accessed via live webcast at https://www.cstproxy.com/decarbonizationplusacquisitionii/2021. If the proposals at the Special Meeting are approved, the parties anticipate that the business combination will close and the trading of the combined entity will commence on NASDAQ shortly thereafter, subject to the satisfaction or waiver, as applicable, of all other closing conditions.

The DCRN Board of Directors believes the proposed business combination is in the best interests of DCRN and its stockholders, and recommends that DCRN stockholders vote “FOR” the adoption and approval of the Business Combination Agreement, dated as of May 25, 2021 (as amended by the First Amendment to the Business Combination Agreement, dated July 27, 2021), by and among DCRN, Tritium, Tritium DCFC Limited (“NewCo”) and Hulk Merger Sub, Inc., as well as all other proposals included in DCRN’s Proxy Statement.

Every stockholder’s vote is important, regardless of the number of shares held. Accordingly, DCRN requests that each stockholder complete, sign, date and return a proxy card (online or by mail) as soon as possible so that their votes arrive no later than 11:59 p.m. Eastern time on January 11, 2022, to ensure that the stockholder’s shares will be represented at the Special Meeting. Stockholders that hold shares in “street name” (i.e., those stockholders whose shares are held of record by a broker, bank or other nominee) should contact their broker, bank or nominee to provide instructions on how to vote their shares and ensure that their shares are voted.

If any individual DCRN stockholder does not receive the Proxy Statement, such stockholder should (i) confirm their Proxy Statement’s status with their broker, (ii) contact Morrow Sodali LLC, DCRN’s proxy solicitor, for assistance via e-mail at [email protected] or toll-free call at (800) 662-5200. Banks and brokers can place a collect call to Morrow Sodali at (203) 658-9400, or (iii) contact DCRN at 2744 Sand Hill Road, Suite 100, Menlo Park, California, 94025.

DCRN expects to provide stockholders with additional information on how stockholders may vote their shares on its website in the coming days, and DCRN expects to publish a subsequent press release once the website is live.

About Tritium

Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, visit tritiumcharging.com

About Decarbonization Plus Acquisition Corporation II

Decarbonization Plus Acquisition Corporation II is a blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with a target whose principal effort is developing and advancing a platform that decarbonizes the most carbon-intensive sectors. These include the energy and agriculture, industrials, transportation and commercial and residential sectors. DCRN is sponsored by an affiliate of Riverstone Holdings LLC and represents a further expansion of Riverstone’s 15-year franchise in low-carbon investments, having established industry leading, scaled companies with more than $5 billion of equity invested in renewables.

Forward Looking Statements

Certain statements made in this document are “forward-looking statements” with respect to the proposed business combination and including statements regarding the commencement of mailing of the Proxy Statement, the Special Meeting and the anticipated timing of the closing of the business combination. These forward-looking statements generally are identified by the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “targets,” “may,” “will,” “should,” “would,” “will be,” “will continue,” “will likely result,” “future,” “propose,” “strategy,” “opportunity” and variations of these words or similar expressions (or the negative versions of such words or expressions) that predict or indicate future events or trends or are not statements of historical matters are intended to identify forward-looking statements. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, guarantees, assurances, predictions or definitive statements of fact or probability regarding future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside NewCo’s, Tritium’s or DCRN’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the inability to complete the business combination or the private offering of ordinary shares in the capital of NewCo to a certain investor (the “PIPE Financing”) in a timely manner or at all (including due to the failure to receive required stockholder or shareholder, as applicable, approvals, or the failure of other closing conditions such as the satisfaction of the minimum trust account amount following redemptions by DCRN’s public stockholders, and the receipt of certain governmental and regulatory approvals), which may adversely affect the price of DCRN’s securities; the inability of the business combination to be completed by DCRN’s business combination deadline and the potential failure to obtain an extension of the business combination deadline if sought by DCRN; the occurrence of any event, change or other circumstance that could give rise to the termination of the proposed business combination or the PIPE Financing; the inability to recognize the anticipated benefits of the proposed business combination; the inability to obtain or maintain the listing of NewCo’s shares on a national exchange following the proposed business combination; costs related to the proposed business combination; the risk that the proposed business combination disrupts current plans and operations, business relationships or business generally as a result of the announcement and consummation of the proposed business combination; NewCo’s ability to manage growth; NewCo’s ability to execute its business plan and meet its projections; potential disruption in NewCo’s employee retention as a result of the business combination; potential litigation, governmental or regulatory proceedings, investigations or inquiries involving NewCo, Tritium or DCRN, including in relation to the business combination; changes in applicable laws or regulations and general economic and market conditions impacting demand for Tritium’s or NewCo’s products and services; and other risks and uncertainties indicated from time to time in the proxy statement/prospectus relating to the proposed business combination, including those under “Risk Factors” therein, and in DCRN’s other filings with the SEC. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statement, and NewCo and DCRN assume no obligation and do not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. Neither NewCo nor DCRN gives any assurance that either NewCo or DCRN will achieve its expectations.

Additional Information about the Business Combination and Where to Find It

In connection with the proposed business combination, NewCo, which will be the going-forward public company, filed a preliminary registration statement on Form F-4, (as amended, the “Registration Statement”), which includes a preliminary proxy statement of DCRN. The Registration Statement is now effective, and the Proxy Statement will be mailed to DCRN stockholders of record as of the close of business on December 6, 2021. INVESTORS AND SECURITY HOLDERS OF DCRN ARE URGED TO READ THE PROXY STATEMENT (INCLUDING ALL AMENDMENTS AND SUPPLEMENTS THERETO) AND THE EFFECTIVE REGISTRATION STATEMENT AND OTHER RELEVANT DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TRITIUM, DCRN, NEWCO AND THE BUSINESS COMBINATION. Investors and security holders will also be able to obtain copies of the Registration Statement and other documents containing important information about each of the companies once such documents are filed with the SEC, without charge, at the SEC’s web site at www.sec.gov.

Participants in the Solicitation

DCRN and its directors and executive officers may be deemed participants in the solicitation of proxies from DCRN’s stockholders with respect to the proposed business combination. A list of the names of those directors and executive officers and a description of their interests in DCRN is contained in DCRN’s filings with the SEC, including DCRN’s Annual Report on Form 10-K for the fiscal year ended December 31, 2020, which was filed with the SEC on March 31, 2021, and is available free of charge at the SEC’s web site at www.sec.gov. Additional information regarding the interests of such participants is set forth in the Registration Statement for the proposed business combination. NewCo and Tritium and their respective directors and executive officers may also be deemed to be participants in the solicitation of proxies from the shareholders of DCRN in connection with the proposed business combination. A list of the names of such directors and executive officers and information regarding their interests in the business combination is contained in the Registration Statement for the proposed business combination.

No Offer or Solicitation

This document does not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination. This document also does not constitute an offer to sell or exchange, or the solicitation of an offer to buy or exchange, any securities, nor will there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale or exchange would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities will be made except by means of a prospectus meeting the requirements of section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

###

DCRN Media Contact
Daniel Yunger
Kekst CNC
[email protected]

Tritium Media Contact
Jack Ulrich
[email protected]

Tritium Investors Contact
Caldwell Bailey
ICR, Inc.
[email protected]

Tritium’s charging technology will be used to expand Osprey’s UK network with over 100 rapid chargers across 40 new charging destinations.

BRISBANE, Australia, December 16, 2021 – The United Kingdom (UK) is expected to require 10 times more charge points than are currently installed, by the year 2030, according to a recent study by the Competition and Markets Authority into the UK’s electric vehicle (EV) charging availability and reliability. To help meet this challenge, Tritium, a global developer and manufacturer of direct current (DC) fast chargers for electric vehicles (EVs), will supply 110 rapid chargers to Osprey Charging Network, one of the fastest growing UK-wide networks of rapid EV charging points.

Aimed at increasing access to rapid and reliable charging infrastructure in car parks, retail locations and along major transit routes, the 110 chargers are expected to be added to 40 new charging destinations, increasing Osprey’s network by 25%.

“It’s incredibly exciting to see the UK transitioning to electric transportation in a big way. This past September, about 15% of all British car sales were electric, setting a new record for the country and a strong indicator of the UK’s technology switch,” said Jane Hunter, Tritium CEO. “We’re so pleased to be working with Osprey to increase access to rapid charging and ease drivers’ transition to EVs through a fast, reliable and convenient charging experience.”

This announcement comes on the heels of the expansion of London’s ultra-low emissions zone, which covers most of greater London and is a crucial step towards the Mayor’s ambitions to tackle the climate emergency and put London on the path to be a net zero carbon city by 2030. Many of the new charging destinations will be located within greater London to increase access to rapid charging for drivers and businesses transitioning to electric transportation.

“It’s a race to meet the ever-growing demand for EV charging in the UK, and we aim to be Britain’s rapid charging network of choice,” said Ian Johnston, Osprey Charging Network CEO. “To achieve our goal, we required a cutting edge and reliable technology partner, and Tritium is a perfect fit. Easy and intuitive user experiences are key to EV uptake, and Tritium excels in developing products that are not only relevant to the market, but also so easy to use. And, with their modular and scalable charging technology, Osprey gets market-leading reliability and the flexibility to easily increase charger power.”

About Tritium

Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

As announced on May 26, 2021, Tritium has entered into a definitive agreement for a business combination with Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN, DCRNW, DCRNU), a publicly traded special purpose acquisition company (SPAC), that would result in Tritium becoming a publicly listed company. Completion of the proposed transaction is subject to customary closing conditions, including approval of DCRN’s stockholders, and is currently expected to occur in January 2022.

For more information, contact us.

About Osprey Charging Network

Osprey Charging Network is a UK-wide, rapid electric vehicle charging network. Osprey fund, install and manage their network on behalf of landlord and local authority partners. The Osprey network is built to be reliable and easy to use. All Osprey chargers accept contactless card payments, App payments, RFID payments and payment through all major third-party payment methods including fleet cards. Every charging point is also powered by 100% renewable electricity. In 2019, Osprey installed London’s first rapid charging hub in partnership with Transport for London (TfL), at Stratford International Station car park.

More information on Osprey can be found at https://ospreycharging.co.uk

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Tritium Media Contact
Jack Ulrich
[email protected]

Tritium Investors Contact
Caldwell Bailey
ICR, Inc.
[email protected]

Osprey Media Contact
Toby Dye
[email protected]

Brisbane, Australia, December 14, 2021 – Tritium Holdings Pty Ltd (“Tritium”), a global developer and manufacturer of direct current (“DC”) fast chargers for electric vehicles (“EVs”), today announced that the company has executed a global framework agreement with Shell (NYSE: RDS-A), the world’s largest mobility retailer with over 46,000 retail sites, to provide fast charging technology and services.

This agreement is expected to help accelerate the supply of Tritium DC fast chargers to their business operations in Europe, South Africa, Asia, the Middle East and North America, in pursuit of Shell’s ambition to operate 500,000 charge points by 2025 and 2,500,000 by 2030.

“This is a great opportunity for Tritium. We have been selling EV charging infrastructure to Shell since 2020 and we’re thrilled to have been selected as a partner to Shell in this latest tender. It’s a vote of confidence in Tritium’s products and services and we look forward to supporting Shell in their endeavors to reduce emissions and enable the rapid electrification of transportation,” said Tritium CEO Jane Hunter. “Tritium technology has been designed to provide fast, rugged and reliable charging in any environment, and we look forward to working with Shell and its affiliates to deploy DC fast charging infrastructure all over the world.”

About Tritium

Founded in 2001, Tritium designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for electric vehicles. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

As announced on May 26, 2021, Tritium has entered into a definitive agreement for a business combination with Decarbonization Plus Acquisition Corporation II (NASDAQ: DCRN, DCRNW, DCRNU), a publicly traded special purpose acquisition company (SPAC), that would result in Tritium becoming a publicly listed company. Completion of the proposed transaction is subject to customary closing conditions, including approval of DCRN’s stockholders, and is currently expected to occur in January 2022.

For more information, contact us.

Tritium Media Contact
Jack Ulrich
[email protected]

Tritium Investors Contact
Caldwell Bailey
ICR, Inc.
[email protected]