Nextracker Acquires Origami Solar For $53 Million

Moving beyond trackers, Nextracker targets the $750 million US frame market with Origami’s steel-based solution
Origami Solar
Origami Solar, which operates a steel solar module frame factory in Arkansas, is now part of Nextracker. (Photo Credit: Origami Solar)
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Key Takeaways
  • Nextracker enters solar panel frame market with the $53 million acquisition of Origami Solar’s steel technology 

  • Origami’s US steel frame manufacturing reduces reliance on aluminum, aligning with tariffs and sustainability goals, says Nextracker 

  • With $750 million US market potential, Nextracker sees it as a substantial new business opportunity 

Nextracker, the world’s largest solar tracker manufacturer, has expanded its portfolio into the solar panel frame market with the acquisition of US-based Origami Solar. The all-cash transaction is valued at $53 million and comes in the wake of the US government imposing heavy tariffs on imported steel and aluminum.  

Origami Solar has developed a steel frame design for solar modules as a replacement for traditional extruded aluminum frames that have been used traditionally. Its Arkansas factory for steel solar panel frames started commercial operations in February 2025 (see Origami Solar Launches Solar Module Steel Frame Factory In US).  

Steel works better in terms of strength and durability, and with Origami’s local fabrication capacity, Nextracker sees potential for growth in this space. 

“Solar panel frame technology has been relatively unchanged for over 45 years,” said the founder and CEO of Nextracker, Dan Shugar. “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.” 

He added, “And with an estimated total addressable market (TAM) in excess of $750 million in the U.S. alone, we see this as a substantial new business opportunity for Nextracker.” 

This is yet another acquisition beyond its traditional tracker business for Nextracker, as it seeks to enhance its solar deployment portfolio and become an end-to-end digital platform. Earlier this year, it acquired autonomous robotic inspection and fire detection system specialist OnSight Technology, and water-free robotic cleaning technology company Amir Robotics, following the August 2024 acquisition of SenseHawk IP, which creates high-resolution 3D as-built maps of solar project sites using AI-enabled drone-captured imagery. 

With this acquisition, Origami Solar says it will leverage Nextracker’s global supply chain ecosystem to scale up further. 

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