Electric vehicle (EV) infrastructure solutions developer, Tritium, received a minority investment from a fuel dispensing company toward aiding its ability to provide EV charging units to vehicle fleets.
Gilbarco Veeder-Root, a Fortive Corporation business, took a minority investment in Tritium to accelerate the development and availability of its products in the U.S. and globally, according to a release. Gilbarco Veeder-Root will provide the charging units to convenience stores, fuel stations, truck stops, and vehicle fleets.
Tritum’s Veefil-PK High Power Charger (up to 475kW) can service multiple units at once, which are aimed at serving fleet depots, and are able to fully charge an EV in up to 10 minutes, according to a release from the company.
The investment will enable Tritium to accelerate a number of strategic activities, including operational expansion in Europe and the U.S. to keep pace with a fast-growing market, with global sales tipped to increase by a third in 2018 compared with the previous year, according to Tritium.
Other activities include expanding production capacity to meet increased demand for the company’s Veefil-PK High Power Charging Systems, and new product research and development. Tritium will also look to expand into India, China and the wider Asian region in the medium turn, following its success in Europe and the USA.