EV charger maker Tritium set to go public as part of SPAC merger –

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EV charger maker Tritium set to go public as part of SPAC merger – fr


Tritium, which makes fast chargers for electric vehicles, has reached agreement to go public through merger with blank check company Decarbonization Plus Acquisition Corp. II, according to people familiar with the subject.
The deal with the Special Purpose Acquisition Company, or SPAC, values ​​tritium at $ 1.2 billion, the people said, asking not to be identified because the information was private. The transaction is expected to generate approximately $ 400 million in proceeds, the people said.

Unlike most PSPC mergers, the combination of Tritium with Decarbonization Plus II did not include the lifting of a private placement, the people said.

Representatives for Tritium and Decarbonization Plus II declined to comment.

Tritium, based in Brisbane, Australia, produces charging software and equipment – including electric pumps the size of large refrigerators – deployed in shopping malls to motorway rest areas in nearly 40 countries, and supplied networks being deployed by Volkswagen AG et Ford Motor Co. The company’s fastest units can add about 217 miles of range on a 10-minute charge, according to the company.

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