Nextracker is increasing into the photo voltaic panel body market with the acquisition of Origami Photo voltaic, a roll-formed metal body producer, in an all-cash transaction of roughly $53 million.
Credit score: Nextracker
“Photo voltaic panel body expertise has been comparatively unchanged for over 45 years,” mentioned Dan Shugar, founder and CEO of Nextracker. “Throughout that point, the scale and dynamic wind masses on photo voltaic panels have elevated dramatically, particularly in utility-scale monitoring functions. From a structural engineering perspective, the shift from aluminum to metal is compelling — metal presents better energy at aggressive value and considerably diminished carbon depth. Most significantly, it helps to unlock alternatives for localized manufacturing from metal coil via remaining fabrication, whereas delivering actual buyer advantages like quicker panel set up and improved long-term system efficiency. And with an estimated complete addressable market in extra of $750 million within the U.S. alone, we see this as a considerable new enterprise alternative for Nextracker.”
Origami’s body designs have been developed and refined over 4 years and are licensed via third-party laboratory testing. Engineered as a drop-in substitute for standard aluminum frames, Origami’s frames mirror customary business kind elements. Nextracker is contemplating new panel mounting approaches, like robotic meeting, which are doubtlessly doable with metal frames, the corporate acknowledged in a press launch.
“Origami Photo voltaic was based to drive the commercialization of metal body expertise and to understand the shopper worth and advantages this new expertise can supply,” mentioned Gregg Patterson, CEO of Origami Photo voltaic. “Our crew has solved key challenges round design, efficiency and high-volume manufacturing. By becoming a member of forces with Nextracker, now we have an ideal alternative to scale this innovation quicker with their world provide chain ecosystem and deep buyer relationships and to commercialize an answer that makes an actual impression.”
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