Our mission is to be the world’s leading energy solutions company enabling the most intelligent, reliable and productive solar power for future generations.

We are a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects around the world. Our products enable solar panels in utility-scale power plants to follow the sun’s movement across the sky and optimize plant performance. We have led the solar industry based on gigawatts (“GW”) shipped globally in 2015 and both globally and in the United States from 2016 to 2021. (See prospectus for footnote.)

Over the past several years, the cost of solar energy has declined significantly, and today utility-scale solar is one of the lowest cost sources of wholesale energy production, driving demand for solar energy globally. In addition, demand for renewable energy continues to increase as countries, industries and firms move to reduce their carbon footprint and pursue more aggressive decarbonization targets. Electrification, including the proliferation of electric vehicles and the replacement of natural gas with electricity in buildings and residences, is expected to drive increased demand for energy production, including solar energy. We believe that both the attractive cost of solar generation and increasing demand for renewable energy will drive continued growth in the utility-scale solar market. Approximately 59.1% of installations in the United States are larger than 5 MW and most correspond to the utility-scale segment. (See prospectus for footnote.) 

The solar tracker market plays a key part in driving the global energy transition by increasing energy production and improving the levelized cost of energy (“LCOE”). The majority of utility-scale projects installed today in mature markets such as the United States, Latin America and Australia use solar trackers and adoption of solar tracker technology is growing in developing solar markets such as the Middle East and Africa. 

**Note: Revenue and net income are for fiscal year 2022, which began April 1, 2021, and ended March 31, 2022.

(Note: Nextracker Inc. priced its upsized IPO on Feb. 8, 2023, at $24.00 – $1.00 above the top of its $20.00-to-$23.00 range – on 26.6 million shares – up from 23.26 million shares in the prospectus – to raise $638.4 million, the company’s parent, Flex Ltd., announced. Nextracker’s IPO raised about 27.7 percent more than its estimated IPO proceeds of $500 million, which assumed pricing at the $21.50 mid-point of its range. Nextracker Inc. disclosed the terms for its IPO in an S-1/A filing dated Feb. 1, 2023: 23.26 million shares at $20.00 to $23.00 to raise $500.0 million, if priced at the mid-point. Nextracker Inc. filed its S-1 dated Jan. 13, 2023, in which no terms were filed. Nextracker’s IPO proceeds are estimated at the placeholder level of $100 million, but some IPO professionals believe this IPO could raise up to $500 million. The company submitted confidential IPO documents to the SEC in April 2021.)