Nextracker announced its expansion into the solar panel frame market with the acquisition of Origami Solar, Inc., a pioneer in roll-formed steel frame technology. The all-cash transaction is valued at approximately $53 million, including future contingent earnout consideration.
The shift from aluminum to steel frames is compelling, as steel offers greater strength, competitive cost, and a significantly reduced carbon intensity. This technology also unlocks opportunities for localized manufacturing, from steel coil through final fabrication, and can enable faster panel installation and improved long-term system performance.
Origami’s frame designs are engineered as a drop-in replacement for conventional aluminum frames, allowing seamless integration into existing manufacturing lines. With U.S.-based fabrication capacity already in place, Nextracker is well-positioned to rapidly scale this innovation, addressing an estimated total addressable market exceeding $750 million in the U.S. alone.
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