A fuel dispenser firm has made a minority investment in Australian electric vehicle (EV) charging infrastructure provider Tritium.

Tritium expects the deal with Gilbarco Veeder-Root will allow it to accelerate the production and roll-out of its EV infrastructure around the world and enable the business to enter new markets.

It plans expanding its operations in Europe and the USA to keep pace with the fast-growing market – global EV sales are forecast to increase by a third in 2018.

Gilbarco Veeder-Root will sell all Tritium products, including the firm’s ‘high power charging’ systems, which the company boasts are capable of fully charging an EV in as little as five minutes.

David Finn, CEO and Founder of Tritium, said: “This investment also sends a strong message to the industry about the future of EV charging in the retail fueling and convenience market – it’s real, it’s happening and Tritium is at the forefront globally.”