Nextracker Announces Acquisition of Origami Solar

Core Insights - Nextracker has acquired Origami Solar for approximately $53 million to expand into the solar panel frame market, focusing on steel frames to enhance installation speed, durability, and reduce carbon footprint [1][5][8] Industry Transition - The shift from aluminum to steel frames is driven by steel's greater strength, competitive cost, and significantly lower carbon intensity, which also supports localized manufacturing [2][5] - Steel frames are expected to unlock innovations in solar panel mounting, including robotic assembly, improving installation speed and reducing labor costs [2] Origami Solar's Technology - Origami Solar's frame designs have undergone four years of development and testing, engineered to replace conventional aluminum frames seamlessly, facilitating rapid adoption of steel frame technology [3][4] - The frames have been tested and qualified by leading panel manufacturers, positioning Nextracker to support rapid scaling with U.S.-based fabrication capacity [3] Market Opportunity - The total addressable market for solar panel frame technology in the U.S. is estimated to exceed $750 million, presenting a substantial business opportunity for Nextracker [5] - Origami Solar aims to commercialize steel frame technology to deliver customer value and benefits, leveraging Nextracker's global supply chain and customer relationships [5]