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Investment in Tritium gives Gilbarco Veeder-Root entry into EV charging market

Merril Boulton ·

Gilbarco Veeder-Root has made a minority investment in Tritium, a privately held electric vehicle (EV) charging manufacturer.

Tritium specializes in the design and manufacture of DC fast-charging solutions for electric vehicles. Established in 2001, it launched its first DC fast charger in 2014, since when it has become a leading global supplier, with installations in 26 countries.

Martin Gafinowitz, senior vice president of Fortive, said: “Our partnership with Tritium is the logical next step in our long history of evolving the Gilbarco Veeder-Root business portfolio to address progressive customer needs. This investment provides early and judicious entry into a market with a growing need for rapid charging, which is one of the top barriers to EV purchase.

Gilbarco Veeder-Root will sell all Tritium solutions, including Veefil-PK high power charging (HPC) systems, which are capable of a full charge of an EV in just five to ten minutes. The company said the high-power charging systems have innovative liquid-cooled technology and a significantly smaller footprint than other equivalent systems on the market. The cooling system allows for less wear on internal parts to ensure optimal charger lifetime. It believes Tritium’s leadership in EV development creates a seamless path for Gilbarco Veeder-Root customers to begin building their charging networks.

“Gilbarco Veeder-Root’s interest in Tritium further validates Tritium’s capabilities and technology expertise in the EV space,” said David Finn, chief executive officer and founder, Tritium. “This investment also sends a strong message to the industry about the future of EV charging in the retail fueling and convenience market.”

Tritium has announced partnerships with a number of new customers across the globe in 2018, including a deal to supply its Veefil-PK high-power charging systems for the IONITY network. Together with IONITY, Tritium is globally the first in the ground with 350KW high power chargers. IONITY is a joint venture of the BMW Group, Daimler AG, Ford Motor Company and the Volkswagen Group with plans to roll out 400 sites across Europe.

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