NEXTracker Acquires Optimum Tracker Intellectual Property and Enters into Agreement for Market Expansion

FREMONT, Calif., July 10, 2018 /PRNewswire/ -- NEXTrackertm, a Flex company, today announced a technology agreement with French solar tracker company, Optimum Tracker. NEXTracker has acquired key Optimum Tracker's intellectual property (IP), including issued and pending patents, related to mechanical, electrical and software systems that will allow further differentiation of NEXTracker's solar tracker portfolio of products and services. The acquired IP is especially relevant for NEXTracker's ground-breaking TrueCapturetm control system, which increases typical PV power plant energy harvest by 2 to 6 percent. The strategic partnership will also enable the two companies to expand their market presence in the burgeoning Middle East, Southern Europe, North Africa and sub-Saharan Africa regions.

"Optimum's patent portfolio fortifies NEXTracker's IP position related to smart tracking control and selected mechanical elements," stated Dan Shugar, NEXTracker CEO. "The company has a great team and has driven innovation in advanced algorithms and optimization. We look forward to collaborating with Optimum on technology, and serving selected customers in targeted markets."

"We are honored to work with NEXTracker in the coming years," explained Optimum Tracker's President and Co-Founder Yacin de Welle. "This collaboration will help us both to enhance our products and propose state-of-the-art innovations, making solar an even more affordable and efficient energy source. Thanks to the complementary capabilities of our companies, we also expect to reach numerous markets worldwide."

Solar tracker technology has firmly surpassed fixed-tilt solar applications for ground-mount utility-scale solar, with year-over-year growth of 32 percent in 2017, according to Greentech Media. This partnership is a strategic move for both companies to exploit their core competencies, differentiate their technologies and lower their customers' levelized cost of energy in an increasingly competitive global marketplace.

About NEXTracker
NEXTracker, a Flex company, advances the power plant of the future with smart solar tracker, energy storage, and software control applications that yield additional energy, optimize performance and reduce costs for project and plant owners. As the number-one tracker supplier worldwide with over 13 GW delivered or under fulfillment, NEXTracker is globally recognized for delivering smart and connected energy solutions for hundreds of projects across five continents. Headquartered in the San Francisco Bay Area, the company has offices in Australia, India, Latin America, and Europe. For more information, visit: NEXTracker.com and follow the company on Twitter @NEXTracker.

About Optimum Tracker
Founded in 2009, Optimum Tracker is an innovation-driven company that specializes in design, manufacturing, commercialization and maintenance of patented solar trackers and fixed-tilt structures for utility-scale solar plants. The Company's mission is to increase the contribution of solar power in the global energy mix by making it increasingly competitive. In order to increase the value of its partners' assets, Optimum Tracker offers simple and robust solutions with customers at the core.

SOURCE NEXTracker