Nextracker, a solar tracker and software solutions provider, announced its expansion into the solar panel frame market with the acquisition of Origami Solar, a provider of roll-formed steel frame technology for solar panels, in an all-cash transaction of approximately $53 million, including future contingent earnout consideration.
According to the release, steel frames offer a high-performance alternative to traditional extruded aluminum frames. Origami’s frames are stated to have standard industry form factors, allowing easy integration into existing manufacturing lines. With U.S.-based fabrication capacity in place, Nextracker is expected to support rapid scaling.
The acquisition of Origami Solar brings dedicated panel frame design and engineering talent to Nextracker to drive its panel-tracker solutions.
“Solar panel frame technology has been relatively unchanged for over 45 years,” said Dan Shugar, founder and CEO of Nextracker. “During that time, the size and dynamic wind loads on solar panels have increased dramatically, especially in utility-scale tracking applications. From a structural engineering perspective, the shift from aluminum to steel is compelling — steel offers greater strength at competitive cost and significantly reduced carbon intensity. 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.”
In May, Nextracker acquired Bentek Corporation, a provider of electrical balance of system (eBOS) solutions. This all-cash acquisition was valued at approximately $78 million. The acquisition merged Bentek’s eBOS solutions with Nextracker’s solar tracker platform.
At the release of the company’s first-quarter fiscal year 2026 financial results, Nextracker stated that it invested $86.8 million in cash for strategic acquisitions, including three acquisitions in robotics and artificial intelligence (AI) technologies to expand its solar technology platform. These technologies focus on areas such as robotic cleaning, real-time monitoring, and 3D site mapping, all of which integrate directly into Nextracker’s control and monitoring systems.
According to Mercom’s 1H and Q2 2025 Solar Funding and M&A report, in the first half of 2025, there were 50 solar M&A transactions, compared to 40 in the first half of 2024.
