DCFC - Tritium DCFC Limited (NASDAQ)

[Garpal Gumnut]

Bad news for this EV fast battery charging outfit based in Brisbane and listed on NASDAQ. Low on cash and Australian Fed Govt. not coming to party on $90m needed for ongoing. Unsure if this AUD or USD.

It will be closing all it's Bne operations with a loss of 200 jobs and relocating to Lebanon Tenn. i.e. a town called Lebanon in Tennessee USA.

About Tritium

Founded in 2001, Tritium (Nasdaq: DCFC) designs and manufactures proprietary hardware and software to create advanced and reliable DC fast chargers for EVs. Tritium’s compact and robust chargers are designed to look great on Main Street and thrive in harsh conditions, through technology engineered to be easy to install, own, and use. Tritium is focused on continuous innovation in support of our customers around the world.

For more information, visit tritiumcharging.com.

There has been a decline of 80% in the stock price since August this year and some large investors are significantly oop. Presently sitting at $USD0.20

gg

 

[frugal.rock]

I jumped out of RFT (Rectifier ASX) a while ago (0.038) on a loss, now 0.033. Tritium uses their product to some extent.

Apparently some Tritium chargers have been failing for various reasons.

It's not all Tritium's fault - How Aussie electric car DC fast charging network can be more resilient - Electrifying Everything - by Neerav Bhatt

Australia's public DC fast charging network for electric cars and other electric vehicles is expanding and experiencing growing pains. EV charge hell –

www.bhatt.id.au

Why are EV chargers unreliable?

Faulty public EV charging stations have been the angst for many critics in the media. Here’s why and what’s being done

www.whichcar.com.au

 

[frugal.rock]

Looking grim Garps
Nasdaq allows 180 calendar days to regain compliance by maintaining a $1 closing bid price for a minimum of 10 consecutive days during the 180-day period.

Nasdaq Delisting Threat Is Tricky for Companies Trading Below $1

Because small public companies with share prices below $1 lack effective methods to address the possibility of being delisted, Nasdaq should weigh less severe enforcement options, says Olshan Frome Wolosky’s Spencer Feldman.

news.bloomberglaw.com