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Business Development Fund investment drives electrical vehicle innovation

Investment from the Business Development Fund will soon be powering forward Tritium’s electric-vehicle charging stations.

As the only Australian company to design and manufacture electric vehicle charging stations, Tritium will use the $2.5 million Business Development Fund investment, along with matched investment from private co-investors St Baker Energy Innovation Trust and the Varley Group, to accelerate its position in the electric vehicle infrastructure market that is emerging around the world.

The home-grown company, founded by University of Queensland students competing in solar car racing, has a reputation for quality and reliability, with its power-electronic products operational on every continent around the world and found in submarines, unmanned aircraft flying at over 40,000ft and even withstanding the extreme conditions of Antarctica.

Mr Curtis Pitt and Tritium CEO David Finn at the announcement of the Business Development Fund.

Backing Tritium as it progresses through the final stages of its commercialisation journey for its Veefil® chargers, the Business Development Fund’s investment will create opportunities for new, high value and skilled employment right here in Queensland.

This is the first investment made by the  $40 million Business Development Fund which invests from $125,000 up to $2.5 million in matched funding, alongside private co-investors, to assist businesses turn their ideas and innovations into commercial realities.

Find out more about the Business Development Fund.

To find out more or to get involved, contact:

Licence
Creative Commons Attribution-NoDerivs 3.0 Australia (CC BY-ND 3.0)
Last updated
18 July, 2017

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