Fortive Corporation's Gilbarco Veeder-Root has taken a minor stake in Tritium, the Australian DC electric vehicle charging infrastructure specialist.

Since it launched its first DC fast charger in 2014, Tritium, based in Brisbane Australia, has become a major global supplier, and currently has installations in 26 countries.

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"Gilbarco Veeder-Root's interest in Tritium further validates our capabilities and technology expertise," said David Finn, CEO and founder of Tritium.

Gilbarco Veeder-Root will sell all Tritium products, including Veefil-PK high power charging (HPC) systems, which are capable of a full charge of an EV in five to 10 minutes. These high power charging systems have unique and innovative liquid-cooled technology and a significantly smaller footprint than other HPCs on the market. The cooling system allows for less wear on internal parts to ensure optimal charger lifetime.

Martin Gafinowitz, SVP of Fortive, said "Our partnership with Tritium is the logical next step in our long history of evolving the Gilbarco Veeder-Root business portfolio to address progressive customer needs. This investment provides early and judicious entry into a market with a growing need for rapid charging, which is one of the top barriers to EV purchase."

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The investment will enable Tritium to expand in Europe and the US with global sales tipped to increase by a third in 2018 compared with the previous year.

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Other activities include expanding production capacity to meet increased demand for the Veefil-PK systems and new product research and development. Tritium will also eye expansion into India, China and the wider Asian region in the medium term, following its success in Europe and the US.

Tritium has announced a number of customers across the globe in 2018, including a deal to supply its Veefil-PK HPC systems for the Ionity network, a joint venture of BMW, Daimler, Ford and the VW group, and it plans to roll out 400 sites across Europe. Tritium's deal is to supply high power chargers to 100 of those sites across Germany, France, UK, Norway and Sweden.

The company also recently signed a deal to supply at least 40 DC fast chargers for the NRMA's charging network launch across the state of New South Wales in Australia, and a separate deal to supply 12 to NKM Mobilitas in Hungary.