Nextracker Expands with $53M Origami Solar Acquisition

• Nextracker acquires Origami Solar, entering the $750M solar frame market with innovative steel technology, boosting strength, cost-efficiency, and sustainability in solar installations.

Nextracker Inc, a US solar tracker manufacturer, has acquired steel solar module frames supplier Origami Solar Inc for USD 53 million, including a contingent earn-out payment. This acquisition allows Nextracker to enter the solar panel frame market, valued at over USD 750 million in the US. Origami Solar specializes in roll-formed steel frame technology, offering a drop-in replacement for traditional aluminum frames.

Nextracker's CEO, Dan Shugar, highlighted the benefits of steel over aluminum, citing greater strength, competitive cost, and reduced carbon intensity. The acquisition supports localized manufacturing and enhances customer benefits like faster installation and improved system performance. Earlier this year, Origami Solar partnered with Heliene Inc to supply US-made, steel-framed solar modules to North America. Nextracker operates in over 40 countries, providing solar power technology platforms with integrated solutions for utility-scale and distributed generation projects.

How will Nextracker's acquisition of Origami Solar impact the US solar panel frame market?

• Market Expansion: Nextracker's acquisition of Origami Solar allows it to expand into the solar panel frame market, potentially increasing its market share and influence in the US solar industry.
• Cost Efficiency: By utilizing Origami Solar's roll-formed steel frame technology, Nextracker can offer more cost-effective solutions compared to traditional aluminum frames, potentially lowering overall project costs for developers.
• Strength and Durability: Steel frames provide greater strength and durability, which can lead to longer-lasting solar installations and reduced maintenance costs over time.
• Environmental Impact: The use of steel frames, which have a lower carbon footprint than aluminum, aligns with sustainability goals and can appeal to environmentally conscious consumers and companies.
• Localized Manufacturing: The acquisition supports the trend towards localized manufacturing, which can reduce supply chain disruptions and lead times, and potentially create more jobs in the US.
• Partnerships and Collaborations: The existing partnership between Origami Solar and Heliene Inc can be leveraged to enhance Nextracker's product offerings and market reach in North America.
• Enhanced System Performance: The integration of steel frames can lead to faster installation times and improved system performance, providing additional value to customers.
• Competitive Advantage: By entering the solar panel frame market, Nextracker can differentiate itself from competitors and offer a more comprehensive suite of solar solutions.
• Global Reach: With operations in over 40 countries, Nextracker can potentially introduce Origami Solar's technology to international markets, expanding its global footprint.
• Innovation and Development: The acquisition may spur further innovation in solar panel frame technology, leading to new developments and advancements in the industry.