Australian Government Invests In EV Fast Charger Veefil To Accelerate International Expansion
Australian DC fast charging manufacturer Tritium has announced a $2.5 million ($1.85 million USD) boost from the Queensland Government’s Business Development Fund (BDF).
Today, Tritium’s Veefil fast chargers are the only electric car chargers actually produced in Australia, and are sold in Asia Pacific, North America and Europe.
Tritium intends to accelerate growth in international markets, as well as increase customer support and services.
“Queensland Treasurer, Curtis Pitt today announced a Queensland Government $2.5m investment in Brisbane-based technology developer and manufacturer Tritium – the first company to receive investment under a new Business Development Fund (BDF) scheme established to encourage innovative businesses. The BDF investment has been matched by an additional $2.5m raised from private investors and will help accelerate international growth of the company’s award-winning Veefil® – a fast charger for electric vehicles, which since its launch in 2013 has been recognised as the most technologically advanced in the market and is already operational in the US, Europe and Asia Pac.”
David Finn, Tritium’s Managing Director said:
“Having the Government invest in our company demonstrates confidence in our advanced technology and the company’s international expansion plans. We can now accelerate our programme to increase capacity and develop better services and support to our customers around the world. Tritium is the only Australian company to design and manufacture EV charging stations and our Veefil® units are now installed globally on major charging networks and fast-charging highways. We are delighted the Government has recognised the market potential for our products and services.”
Curtis Pitt explained the decision to award Tritium the maximum investment available:
“This home-grown company is the first to receive funding from the Business Development Fund and it’s exactly the type of innovative business that the BDF is looking to invest in. The investment will help this world-leading Queensland business bring its innovative tech products onto the market sooner.”