PVTIME – Nextracker, the world’s leading manufacturer of solar tracking systems, has acquired Origami Solar, a firm specialising in steel frame technology, in a deal worth around $53 million.
This acquisition will accelerate the innovation and large-scale adoption of sustainable steel frame technology within the solar industry. Origami Solar’s frames are made from locally sourced, recycled US steel, offering high strength and performance while reducing carbon emissions and integrating seamlessly into existing production lines. Origami Solar’s expertise in frame design and engineering will also strengthen Nextracker’s ability to integrate solar modules with its tracking systems.
Dan Shugar, Nextracker’s chief executive, said that switching from aluminium to steel offered clear structural engineering advantages. He noted that steel provides greater strength at more competitive costs, significantly reduces carbon intensity and enables domestic manufacturing of finished products from steel coils. He added that the total addressable market in the US alone was expected to exceed $750 million, describing this as a major new growth opportunity for Nextracker.
Earlier this year, Origami Solar began producing steel frames domestically at its Arkansas factory and secured supply agreements with several US solar module manufacturers, including Bila Solar, Heliene, and the Puerto Rico-based company Solx.
This follows a series of strategic steps taken by Nextracker. In July 2025, the company reported revenue of $864 million and a gross margin of 32.6%, as well as announcing plans to invest over $40 million in corporate acquisitions to improve its AI and robotics capabilities. It later acquired three firms: OnSight Technology, which develops autonomous inspection and fire detection systems; Amir Robotics, a provider of water-free robotic cleaning solutions; and SenseHawk’s IP, which is used for developing AI-powered, drone-based, high-precision 3D mapping platforms. A new division was set up to integrate these technologies, led by the company’s first AI and Robotics Officer.
Earlier in 2025, Nextracker bought the US-based electrical infrastructure manufacturer Bentek Corporation for $78 million, adding eBOS (balance of system) products to its solar portfolio. These eBOS solutions can operate independently or integrate with Nextracker’s tracking systems, thereby speeding up solar plant commissioning, improving grid connection, and boosting lifetime energy output. Last week, the company unveiled NX PowerMerge, its first eBOS product since the Bentek acquisition, marking its latest step into the eBOS market.
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