Nextracer has entered the solar panel frame market by acquiring Origami Solar, a manufacturer of rolled steel frames, through an all cash transaction of approximately $53 million.

Nextracer founder and CEO Dan Shugar said, "For 45 years, solar panel frame technology has remained largely unchanged. During this period, the size and dynamic wind load of solar panels have increased sharply, especially in utility scale tracking applications. From a structural engineering perspective, the transition from aluminum to steel is of great significance - steel has higher strength, more competitive cost, and significantly reduced carbon emission intensity. Most importantly, it helps open up localized production opportunities from steel coils to final manufacturing, while bringing tangible benefits to customers such as faster panel installation and better long-term system performance. In the United States alone, the potential market value is estimated to exceed $750 million, and we believe this is important for Nextracer. For rackers, it is a huge new business opportunity. ”

Origami's framework design has undergone four years of development and improvement, and has passed third-party laboratory testing certification. Origami's frame is designed to replace traditional aluminum frames, with dimensions consistent with industry standard sizes. Nextracer stated in a press release that the company is considering new panel installation methods, such as robot assembly, which may be applicable to steel frames.

Gregg Patterson, CEO of Origami Solar, stated, "Origami Solar was founded with the aim of promoting the commercialization of steel frame technology and realizing the customer value and benefits that this new technology can bring. Our team has addressed key challenges in design, performance, and mass production. By partnering with Nextracer, we have the opportunity to leverage its global supply chain ecosystem and deep customer relationships to scale this innovation faster and commercialize this truly impactful solution