Oooooooh Dear ... How sad ...NOT ...
In a statement issued overnight to the Nasdaq stock exchange in New York, where it has been struggling to retain its listing because of a collapsing share price, the company said Tritium DCFC and three of its Australian subsidiaries were either insolvent or likely to become insolvent...It’s an incredibly sad outcome for Tritium, which was a world pioneer in the rollout of EV fast charging infrastructure, despite the slow uptake of EVs in its home country.
It seized a more than 20 per cent share of the global market, a majority share of non-Tesla charging infrastructure in Australia and had an enormously successful listing on the Nasdaq in early 2022 which valued the company at up to $2 billion.
That listing delivered massive windfall returns in the “hundreds of millions” to its major backers, former coal barons Trevor St Baker and Brian Flannery
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Oooooooh Dear ... How sad ...NOT ...In a statement issued...
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