Array Technologies, Inc. (NASDAQ:ARRY) was founded in 1989 and is headquartered in Albuquerque, New Mexico, USA. It is one of the world’s largest manufacturers of ground installation systems for solar projects. The company’s seed round on July 12, 2016 The financing received investment from Oaktree Capital Management.
Array Technologies, Inc. (ARRY):
Since 1989, Array Technologies has produced solar products in Albuquerque, New Mexico, and has provided more than 22 gigawatts of electricity for global commercial and utility-scale solar projects. Throughout the company’s history, Array Technologies has always focused on designing and manufacturing solar tracking equipment. The company focuses on helping customers enjoy the highest return on investment and the lowest average electricity bill (LCOE) in the industry.
The main product of Array Technologies is an integrated system of steel brackets, electric motors, gearboxes and electronic controllers-commonly referred to as single-axis “Trackers”. The tracker moves the solar panels throughout the day to maintain the best direction towards the sun, thereby significantly increasing its energy production. According to Bloomberg, solar projects that use trackers generate up to 25% more energy than projects that use a “fixed tilt” installation system, and the average energy cost (LCOE) is reduced by 22%. According to BloombergNEF and IHS Markit, trackers account for 10% to 15% of the cost of building ground solar projects, and about 70% of all ground solar projects built in the United States in 2019 use trackers.
After 30 years of testing the company’s solar trackers in the field and in the laboratory, as well as independent engineering reviews, Array Technologies’ products have been refined to provide the best performance and long life. Array Technologies solar trackers have been carefully designed to withstand the harshest conditions on the planet and continue to move forward. In order to achieve a service life of at least 30 years, they are the industry leader in reliability, durability and quality.
Including engineering services, we can customize our solar trackers according to the special requirements of each site and maximize energy production. In addition, the accompanying project management service provides on-site support for optimized installation and commissioning.
In its 30-year company history, Array Technologies has expanded from its manufacturing base in the United States to a global provider of time-proven solar tracking solutions. With the expansion of the global market for tracking solar energy in the scale of utilities, the scale of Array is also expanding, with projects and offices in more and more countries/regions.
Array Technologies, Inc. (ARRY) product:
- DuraTrack® HZ v3– After three years of field testing design improvements, DuraTrack ® HZ v3 be the most durable, the most reliable tracking system. The company’s single-bolt modular fixture and wide tolerances simplify the installation process, while the flexible link architecture maximizes power density, and the company’s innovative use of fewer components and a trouble-free wind management system makes Array Technologies a solar The best choice for trackers.
- SmarTrack®-advanced machine learning software that can increase energy production and revenue for utility-scale solar sites equipped with DuraTrack® HZ v3 trackers. DNV GL predicts that SmarTrack can increase output by up to 5%. SmarTrack does not require additional hardware or sensors to run on the site. By responding to the angular position of the tracker block to respond to the unique site topography, weather conditions and the geographic location of the Array, SmarTrack can maximize the performance of the photovoltaic power plant and increase the profit of the asset owner. Verified by independent engineering company DNV GL, SmarTrack’s ability to cost-effectively increase production can improve the bankability of the project, and has been guaranteed by the world’s leading project financing agency.
Array Technologies, Inc. (ARRY) investment:
Array Technologies, Inc. (NASDAQ:ARRY) plans to list on NASDAQ on 10/15/2020 IPO, issue price $19.00-$21.00, issue 33.8 million shares, raise 675 million US dollars, Goldman Sachs/ JPMorgan Securities / Guggenheim Securities/ Morgan Stanley underwriting, Credit Suisse/ Barclays/ UBS Investment Bank.