FTC Solar Makes Waves with New Multi-Year Agreement
FTC Solar builds momentum with Strata Clean Energy deal
FTC Solar, Inc. (NASDAQ: FTCI) saw its shares jump after announcing a multi-year agreement that underscores its push into advanced solar tracking. The deal with Strata Clean Energy is designed to deepen FTC Solar’s role in U.S. utility-scale projects and broaden its footprint across key sites.
What the agreement covers
Under the partnership, FTC Solar will supply 500 megawatts of its Voyager 2P solar tracker technology. These trackers will be deployed across multiple project locations in the United States, giving Strata a consistent platform and giving FTC Solar a larger base of installed systems.
Preferred supplier status and software tie-in
As part of the arrangement, FTC Solar becomes Strata’s preferred supplier of 2P trackers for an initial three-year term. The parties also outlined a potential path to scale the relationship beyond one gigawatt, reflecting Strata’s confidence in the company’s capability to deliver. A key element is the planned integration of FTC Solar’s tracker solutions with SunPath software, which is intended to streamline planning and execution and improve overall project efficiency.
Timeline and first projects
The first project under the agreement is slated to begin in the last quarter of 2024. That start date sets a clear near-term milestone and signals FTC Solar’s intent to move from announcement to deployment without a long lag.
What leadership is saying
Yann Brandt, President and CEO of FTC Solar, called the collaboration an honor and pointed to the strength of the relationship with a leading solar developer. Brandt said, "FTC has differentiated and value-enhancing trackers and will go above and beyond for customers, enabling solar projects to be installed safely and quickly. We look forward to demonstrating our full capabilities to help make each project a resounding success for Strata."
Market reaction
At the time of publication, FTC Solar shares were up more than 126.52% to 51 cents. The sharp move reflects investor optimism around the agreement and the company’s execution path.
What’s next for FTC Solar
FTC Solar plans to use this partnership to reinforce its position in solar tracking and to deliver consistent performance across a multi-site rollout. With the preferred supplier status in place, the company is positioned to pursue additional volume as projects move from planning to construction.
Frequently Asked Questions
What did FTC Solar announce?
The company announced a multi-year agreement with Strata Clean Energy to provide Voyager 2P solar trackers, along with an integration plan that includes SunPath software.
How much capacity is covered, and where will it be installed?
The agreement covers 500 megawatts of Voyager 2P trackers to be deployed across several project sites in the United States, with the potential to scale beyond one gigawatt.
How long is the preferred supplier term?
FTC Solar is the preferred supplier of 2P trackers to Strata for an initial three-year period under this agreement.
When do the first projects start?
The first project tied to the agreement is expected to begin in the fourth quarter of 2024.
How did the stock respond to the news?
At the time of publication, FTC Solar shares rose by over 126.52% to 51 cents following the announcement.
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