Nextracker, a US-based solar technology provider, has forayed into the solar panel frame market with the acquisition of compatriot Origami Solar.
The all-cash deal is valued at around $53m, including a contingent earnout consideration.
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Origami Solar is a provider of roll-formed steel frame technology.
Its frame designs are engineered to be a drop-in replacement for traditional aluminium frames, mirroring standard industry form factors for easy integration into existing manufacturing lines.
This compatibility is expected to encourage the widespread and swift adoption of steel frame technology.
The acquisition brings together Origami Solar’s specialised panel frame design and engineering talent with Nextracker’s experience and expertise in panel-tracker interface engineering.
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By GlobalDataOrigami Solar CEO Gregg Patterson said: “Our team has solved key challenges around design, performance, and high-volume production. By joining forces with Nextracker, we have a great opportunity to scale this innovation faster with their global supply chain ecosystem and deep customer relationships and to commercialise a solution that makes a real impact.”
This deal is poised to strengthen Nextracker’s position in the market by leveraging steel’s potential in advancing solar panel mounting techniques, including robotic assembly, which could lead to enhancements in speed and reductions in labour costs.
Nextracker founder and CEO Dan Shugar said: “Solar panel frame technology has been relatively unchanged for over 45 years. During that time, the size and dynamic wind loads on solar panels have increased dramatically, especially in utility-scale tracking applications.
“From a structural engineering perspective, the shift from aluminium to steel is compelling – steel offers greater strength at competitive cost and significantly reduced carbon intensity.
“Most importantly, it helps to unlock opportunities for localised manufacturing from steel coil through final fabrication, while delivering real customer benefits like faster panel installation and improved long-term system performance.”
Last month, Casa dos Ventos, a Brazil-based renewable energy company, selected Nextracker to supply 1.5GW of solar tracker systems for its first utility-scale solar projects.
Nextracker will deploy its NX Horizon-XTR all-terrain solar trackers and NX Horizon solar tracker systems for these projects.
