Nextracker is expanding into the solar panel frame market with the acquisition of Origami Solar, a roll-formed steel frame manufacturer, in an all-cash transaction of approximately $53 million.
Credit: Nextracker
“Solar panel frame technology has been relatively unchanged for over 45 years,” said Dan Shugar, founder and CEO of Nextracker. “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 aluminum to steel is compelling — steel offers greater strength at competitive cost and significantly reduced carbon intensity. Most importantly, it helps to unlock opportunities for localized manufacturing from steel coil through final fabrication, while delivering real customer benefits like faster panel installation and improved long-term system performance. And with an estimated total addressable market in excess of $750 million in the U.S. alone, we see this as a substantial new business opportunity for Nextracker.”
Origami’s frame designs have been developed and refined over four years and are certified through third-party laboratory testing. Engineered as a drop-in replacement for conventional aluminum frames, Origami’s frames mirror standard industry form factors. Nextracker is considering new panel mounting approaches, like robotic assembly, that are potentially possible with steel frames, the company stated in a press release.
“Origami Solar was founded to drive the commercialization of steel frame technology and to realize the customer value and benefits this new technology can offer,” said Gregg Patterson, CEO of Origami Solar. “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 commercialize a solution that makes a real impact.”
News item from Nextracker
