- Rectifier Technologies (RFT) receives product purchase orders totalling almost $28 million
- The new purchase orders came from Tritium, totalling US$20 million (A$27.9 million) for the supply of 35 kilowatt high-voltage and high-efficiency modular power supply units for high-powered DC electric vehicle charging
- The orders are scheduled to be delivered before the end of the year
- Rectifier says the sale marks a significant milestone in the co-operation between both companies, which began in 2017
- RFT shares surge 62.8 per cent to seven cents
Rectifier Technologies (RFT) shares have soared after the company announced it had received product purchase orders totalling almost $28 million.
Melbourne-based Rectifier Technologies specialises in developing and manufacturing high reliability and high efficiency power conversion products.
The company said its mission was to enable sustainable new energy applications through its power electronics.
The new purchase orders came from Tritium, totalling US$20 million (A$27.9 million) for the supply of 35-kilowatt high-voltage and high-efficiency modular power supply units for high-powered DC electric vehicle charging.
Tritium is a designer and manufacturer of proprietary technology underpinning advanced and reliable DC fast chargers for electric vehicles.
The binding orders are scheduled to be delivered before the end of the year.
Rectifier said the sale was a significant milestone in the co-operation between both companies, which began in 2017.
RFT shares had jumped 62.8 per cent to seven cents by 10:53 am AEDT.