According to The Australian Financial Review, electric vehicle fast charging station company Tritium is embarking on a $30 million capital raising to fuel robust growth in demand from Europe and the United States for a company now valued at $330 million.
Tritium, with headquarters in Brisbane, already has global giant Gilbarco Veeder-Root as one of its major shareholders after that group injected $58 million into the company last year for a 19.3 per cent stake.
Tritium chief executive David Finn said the growth rates in the sector were accelerating fast as electric vehicle take-up rose, particularly in Europe.
Vehicle owners wanted stations with the ability to charge their vehicles quickly. The Veefil fast-charger gave an extra 100km-plus of range from a 20-minute hook-up. The fund raising is timed to ensure production could keep up with demand, which had more than doubled in the past year.
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