Tritium and Enel X Way Expand Partnership to Electrify Transportation as US Increases Funding

Tritium DCFC Limited (Tritium) (Nasdaq: DCFC), a global leader in direct current (DC) fast chargers for electric vehicles (EVs), and Enel X Way, the Enel Group’s global business line that offers innovative EV charging solutions, today announced the signing of a global framework agreement. This deal, marked by the first contract in the US, strengthens Enel X Way’s access to Tritium’s state-of-the-art fast charging hardware and software. With over 380,000 charging ports worldwide, Enel X Way stands as a global leader in smart EV charging solutions.

“The electrification of transportation requires the removal of key barriers to EV adoption, most notably access to charging, both at home and in public,” said Chris Baker, Head of Enel X Way North America. “This agreement will enable Enel X Way to expand its DC fast charging offering with Tritium’s flexible, scalable, US manufactured DC fast chargers and infrastructure that makes deploying charging sites easier for businesses and cities.This fantastic partnership with Tritium will help Enel X Way meet the increasing demand for fast charging and achieve our mutual goal of electrifying transportation.”

Under the terms of the agreement, Enel X Way plans to integrate its renowned JuiceNet software platform with Tritium’s 175kW fast charger, alongside a 50kW version of Tritium’s acclaimed RTM. This partnership aims to deliver an advanced fast charging solution suitable for a variety of users including fleets, automakers, utilities, and public charging stations located along highways.

A significant addition of over 250 fast chargers is anticipated in the near future, potentially qualifying for a tax credit that has recently been revised and prolonged under the Inflation Reduction Act (IRA). Thanks to the Alternative Fuel Vehicle Refueling Property Credit, commercial initiatives now stand to gain a maximum incentive of 30% or $100,000 per charger, an increase from the previous $30,000 per property, granted the lesser value applies.

In line with their ambitious future plans, Tritium and Enel X Way are intending to expand their collaboration to meet the objectives of the National Electric Vehicle Infrastructure (NEVI) Formula Program. This aligns with the Biden-Harris Administration’s goal of establishing a national network of 500,000 EV chargers. To meet the demand set by NEVI, Enel X Way plans to roll out Tritium’s PKM150 DC fast chargers that comply with the Buy America initiative.

Tritium’s PKM150 and the previously mentioned RTM are slated to commence US production at the company’s Tennessee factory this fall. Furthermore, they are expected to meet the compliance requirement for the Federal Highway Administration’s Buy America initiative in the first quarter of 2023.

“As the world moves toward electrification at unprecedented speeds, it’s imperative that our industry rises to the challenge to ensure everyone has access to fast and convenient EV charging,” said Jane Hunter, Tritium CEO. “We believe that Enel X Way is an ideal company to accelerate deployment of our charging technology, as they have entities throughout the world and are well equipped and committed to the expansion of electric vehicle infrastructure.”

Through the integration of smart charging, utilities can effectively manage the burgeoning demand while ensuring a reliable, balanced, and clean electric grid for all users. Enel X Way is committed to providing site hosts and partners with a complete range of interoperable, hardware agnostic, OCPP compliant, SOC-2 compliant, smart grid EV charging solutions that adhere to the highest industry standards.

Tritium and Enel X Way share a long-standing business relationship cemented by the joint objective to decarbonize transportation. This newly forged agreement further underscores their successful partnership. Moving forward, the companies plan to solidify additional regional contracts to broaden the availability of fast charging on a global scale.

In North America, Enel X Way possesses qualifications for over 60 commercial utility and state incentive programs. This impressive portfolio includes 30 DC fast charging incentive programs, which greatly amplify the company’s reach and influence in this rapidly growing sector. The technological prowess of Enel X Way is further highlighted by its software platform, a sophisticated tool that enables utilities to monitor, analyze, and adjust demand from participating charging stations.

This system allows the alignment of charging operations with real-time grid conditions, thereby promoting efficient energy use and reducing strain on power infrastructure. The company’s dedication to maintaining high cybersecurity standards is evident in its achievement of the AICPA SOC 2® certification. This certification represents a strong commitment to data protection, ensuring driver and customer information remains secure in adherence to the most stringent industry standards.