PVTIME – Nextracker, the global leader in solar tracking systems, has rebranded as Nextpower, marking its transition from a tracking technology supplier to an integrated energy solutions provider offering end-to-end services. The company will continue to trade on the Nasdaq under its existing stock ticker symbol, NXT.
This follows a series of strategic acquisitions that have expanded the company’s portfolio to include module frames, artificial intelligence, robotics, and balance-of-system (BOS) components. Alongside the rebrand, Nextpower has unveiled a new line of power conversion systems (PCS) which are set to be shipped from 2026 onwards.
Founder and CEO Dan Shugar explained that the shift responds to customer demand for solutions that are quicker to deploy, higher performing and more reliable throughout their lifecycle. He noted that the firm has systematically developed a comprehensive technology platform in recent years to deliver value across the entire solar value chain, and that the new name reflects this evolution. Building on decades of solar tracking leadership, Nextpower now supports cutting-edge clean energy systems amid an electricity supercycle, in which solar is leading global new capacity additions due to its cost competitiveness. Expanding into PCS, robotics and AI enables the company to provide bespoke solutions for today’s large-scale, high-reliability and complex solar projects.
The rebrand coincides with the soaring global demand for electricity, driven by energy-intensive sectors such as AI. Nextpower aims for one third of its revenue to come from non-tracking products and services by 2030, with a revenue goal of between 4.8 and 5.6 billion US dollars for fiscal year 2030.
Chief Financial Officer Chuck Boynton emphasised that the multi-year financial targets underline confidence in Nextpower’s growth trajectory and the strength of its business model. He stated that the company is on track for sustained revenue growth and stronger cash generation, as well as securing funding for continued expansion, all the while maintaining healthy profit margins and a robust balance sheet. This will be supported by disciplined execution and operational efficiency.
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