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
Yet the Good old Taxpayer got shafted again !! ...
