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Nextracker inked agreements with channel partners trained to resell the company’s flagship NX Horizon solar tracker to help scale DG sales to the commercial and industrial segment.
New capabilities of the STI H250 position the tracker for use in utility-scale solar projects on hilly, uneven terrain as well as in agrivoltaic installations.
The solar tracker and software provider’s share price increased 20% in the trading session following the earnings report.
Majority holder Flex plans to spin off its remaining interests in Nextracker. Plus, the company raised its earnings guidance for 2024.
The company released a hail stow-ready rack, a terrain following tracker and an irradiance-tracking yield optimizer.
The company announced the start of production at an Asteelflash manufacturing line in California to produce self-powered controllers, high voltage power supply, and more.
The company said the sites will add over 1 GW of capacity, serving increased demand for domestically produced solar components.
Nextracker begins trading today on the Nasdaq Global Select market under the ticker symbol NXT.
Flex announced that its subsidiary, Nextracker, has publicly filed a registration statement for an initial public offering.
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