California-based solar tracker manufacturer Nextracker has acquired US steel solar frame maker Origami Solar.
The all-cash deal is valued at approximately $53 million, including future contingent earnout consideration, and marks Nextracker’s entry into the solar panel frame market.
Nextracker said the acquisition adds dedicated panel frame design and engineering expertise to the company, supporting continued innovation in integrated panel-tracker solutions.
Founder and CEO Dan Shugar said the shift from aluminum to steel frames is “compelling,” offering stronger, more durable and lower-carbon alternatives for solar installations.
“Steel offers greater strength at competitive cost and significantly reduced carbon intensity,” Shugar said. “Most importantly, it helps to unlock opportunities for localized manufacturing from steel coil through final fabrication, while delivering real customer benefits like faster panel installation and improved long-term system performance. And with an estimated total addressable market in excess of $750 million in the U.S. alone, we see this as a substantial new business opportunity for Nextracker.”
Origami Solar specializes in roll-formed steel manufacturing. In June 2024, the company announced partnerships with three US steel fabricators to begin domestically producing steel solar module frames in Ohio and Texas. The Oregon-based company, founded in 2019, won a pv magazine award in 2023 for manufacturing.
“By joining forces with Nextracker, we have a great opportunity to scale this innovation faster with their global supply chain ecosystem and deep customer relationships and to commercialize a solution that makes a real impact,” said Origami Solar CEO Gregg Patterson.
In June, Nextracker was named the top global supplier for solar trackers for the tenth consecutive year, shipping 28.5 GW, equivalent to around 26% of global market share. The company had 39% year-over-year growth in 2024.
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