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Tritium DCFC

EV fast-charging hardwareAustralia
New to Unitard
πŸ’€ Dead / Bankrupt
PeakΒ $1.2 BillionToday
~-100%
from peak
  1. πŸ¦„
    Became a unicorn
    Jan 2022
  2. πŸ“ˆ
    Peak valuation
    $1.2 Billion ’22
  3. πŸ’”
    Became a Unitard
    Apr 2024
  4. πŸ’Έ
    Last valuation
    Wiped out
Capital raised
$400M
Total raised
$48.1K/day
Raised per day

Total raised averaged per day over approximately 22.8 years from founding to bankruptcy or shutdown. This is not measured cash burn. Methodology

Funding: Company / SPAC filings (~US$400M+ incl. SPAC proceeds)
Current status
Declared insolvent (Apr 2024), placed in administration (KPMG) and receivership (McGrathNicol); operating assets sold to Exicom, listed shell wound up

The rise & fall

6 moments Β· 2001–2024

The key moments.

2001
Founded in Brisbane
David Finn, Paul Sernia and James Kennedy start Tritium to build DC fast chargers for EVs.
The Driven
Jan 14 ’22
Nasdaq debut at ~$1.2B$1.2B
Shares begin trading as DCFC the day after the merger closes.
The Driven
2023
Warranty and factory costs mount
Reliability problems and a cash-hungry Tennessee factory outrun revenue.
The Driven
Apr 18 ’24
Declared insolvent
Tritium enters administration (KPMG) and receivership (McGrathNicol) after rescue talks fail.
The Driven
Aug 8 ’24
Assets sold to Exicom for ~$29.6M$29.6M
India's Exicom buys the operating business; the listed shell is renamed and wound up.
Business News Australia
$1.2Bof peak value erased Β· 23 years

How it happened

Tritium was a Brisbane maker of direct-current fast chargers for electric vehicles, founded in 2001, that went public on Nasdaq in January 2022 through a SPAC merger with Decarbonization Plus Acquisition Corp II at roughly a $1.2B valuation.

Warranty costs, reliability problems and the cash drain of opening a U.S. factory in Tennessee outran its revenue. After government rescue talks failed, Tritium was declared insolvent in April 2024 and placed in voluntary administration under KPMG and receivership under McGrathNicol.

India's Exicom agreed to buy the operating assets for about US$29.6M in August 2024, and the listed shell was renamed and wound up, leaving shareholders with nothing.

Glassdoor reviews were among the harshest in this group, averaging barely two out of five, with reviewers describing disorganized, blame-shifting management, below-market pay and wave after wave of departures as the company slid toward administration.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor β†—. See our methodology.

Source: Startup Daily / The Driven: SPAC merger with Decarbonization Plus Acquisition Corp II (DCRN) at ~US$1.2B (A$1.55B), trading as DCFC on Nasdaq from Jan 14, 2022. The Driven (Apr 19, 2024): declared insolvent Apr 18, 2024, with KPMG as administrators and McGrathNicol as receivers. Business News Australia: Exicom (via Tritium Power Solutions) agreed to buy the operating assets for ~US$29.6M on Aug 8, 2024. TipRanks: the listed shell was renamed A.C.N. 650 026 314 Ltd (Oct 19, 2024) and wound up, equity worthless. Founded 2001 by David Finn, Paul Sernia and James Kennedy.

Where they went

  • Jane Hunter
    CEO (2022-2024, led through insolvency)
    Chief Executive Officer at HoriZn
    LinkedIn β†—
  • David Finn
    co-founder
    Managing Director at Finnite
    LinkedIn β†—
  • Paul Sernia
    co-founder
    Chief Executive Officer at Endua
    LinkedIn β†—
  • James Kennedy
    co-founder
    Not on record

Current roles as self-reported on LinkedIn, retrieved 2026-10-13. See our methodology.

Disclosed investors (6)

Historical funding participation; lists may be incomplete and do not establish current ownership or investor losses.

* Lead in a funding round Β· Crunchbase β†— Β· 2026-10-13 Β· Methodology Β· Leaderboard

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