FTC Solar Announces Multi-Year Tracker Supply Agreement with Strata Clean Energy

AUSTIN, Texas, Sept. 10, 2024 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (Nasdaq: FTCI), a leading provider of solar tracker systems, software, and engineering services, announced today that it has been selected by Strata Clean Energy (Strata) to supply approximately 500 megawatts of its Voyager 2P solar tracker technology for multiple project sites in the U.S. and will be the preferred 2P solar tracker supplier over a three-year initial term, which could expand to over a gigawatt of volume. Strata is expected to utilize a combination of FTC Solar’s tracker solutions for the sites, along with FTC’s innovative SunPath software to further enhance output and performance.

“FTC certainly has one of the fastest and easiest trackers to install, yet it’s fully adaptable and high quality,” said Markus Wilhelm, Chief Executive Officer of Strata Clean Energy. “With impressive trackers and software, and a noticeably differentiated approach to customer service and support, we are pleased to continue to expand our relationship with FTC Solar.”

"We are honored to be selected by Strata, a solar development, EPC, and O&M leader, to further strengthen our relationship with a multi-year agreement,” commented Yann Brandt, FTC Solar’s President and Chief Executive Officer. “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.”

The first project under this three-year agreement is expected to begin in the fourth quarter of 2024.

About Strata Clean Energy
Strata Clean Energy and its affiliates are a vertically integrated company specializing in solar and storage development, engineering, procurement, and construction (EPC), as well as operations and maintenance (O&M). With over 170 projects in operation, more than 8 GW of solar and 31 GWh of storage in development, and 4.2 GW under management nationwide, Strata leads the clean energy sector. The Company has a strong presence in the Western U.S., with offices in Denver and Scottsdale.

About FTC Solar Inc.
Founded in 2017 by a group of renewable energy industry veterans, FTC Solar is a leading provider of solar tracker systems, technology, software, and engineering services. Solar trackers significantly increase energy production at solar power installations by dynamically optimizing solar panel orientation to the sun. FTC Solar’s innovative tracker designs provide compelling performance and reliability, with an industry-leading installation cost-per-watt advantage.

FTC Solar Investor Contact:
Bill Michalek 
Vice President, Investor Relations 
FTC Solar
T: (737) 241-8618 
E: IR@FTCSolar.com

Forward-Looking Statements 
This press release contains forward looking statements. These statements are not historical facts but rather are based on our current expectations and projections regarding our business, operations and other factors relating thereto. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict.  In addition, this press release contains statements about third parties and their commercial activity.  We have not independently verified or confirmed such statements and have instead relied on the veracity of information as provided to us by such third parties related to such statements.  You should not rely on our forward-looking statements or statements related to third parties or their commercial activities as predictions of future events, as actual results may differ materially from those in the forward-looking statements or statements related to third parties or their commercial activities because of several factors, including those described in more detail above and in our filings with the U.S. Securities and Exchange Commission, including the section entitled “Risk Factors” contained therein. FTC Solar undertakes no duty or obligation to update any forward-looking statements or statements related to third parties or their commercial activities contained in this release as a result of new information, future events or changes in its expectations, except as required by law.