Soltec Will Adopt Altair Technology to Accelerate and Advance Research and Development Efforts

Rhea-AI Summary

On January 17, 2023, Altair (Nasdaq: ALTR) announced a significant partnership with Soltec, a solar equipment manufacturer in Spain. Under this agreement, Soltec will implement Altair's full suite of technology solutions in its R&D division. This collaboration aims to enhance Soltec’s capabilities in developing and optimizing solar technology, particularly solar trackers. The CEO of Altair emphasized the company's commitment to sustainability and innovation, while Soltec highlighted the advantages of using Altair's unique licensing system for improved software access and cost efficiency. The partnership underscores both companies' focus on advancing renewable energy solutions.

Positive

• Partnership with Soltec enhances Altair's presence in the solar energy sector.
• Soltec will utilize Altair's full suite of technology for R&D, focusing on solar technology.
• The Altair Units licensing system offers flexibility and cost efficiency to Soltec.

Negative

• None.

Altair Units licensing system will provide access to full suite of Altair solutions

TROY, Mich., Jan. 17, 2023 /PRNewswire/ -- Altair (Nasdaq: ALTR), a global leader in computational science and artificial intelligence (AI) announced that Soltec, a global solar equipment manufacturer based in Murcia, Spain, will be utilizing Altair technology within its research and development (R&D) division. This represents a significant win in the solar energy sector for Altair.  

"Altair's commitment to sustainability is core to who we are and what projects we undertake. Expanding our presence and expertise in the sustainability sector is one of our top priorities, and we are thrilled to work with Soltec to further embody our vision," said James R. Scapa, founder and chief executive officer, Altair. "Renewable energy is going to be a foundational aspect of tomorrow's world – we're proud to have a hand in bringing about better, more efficient renewable energy technology."

Soltec Innovations will be implementing the full Altair technology suite to deliver greater flexibility, power, and value to its engineering team compared to previous software solutions. The R&D team will use Altair's simulation, data analytics, and other capabilities to both optimize existing technology and develop new products. These products mainly include solar trackers, which orient solar panels to face sunlight, and related parts, equipment, and technology. These projects further solidify Altair's commitment to developing and improving sustainable methods of energy generation and help Soltec reinforce its status as a leader in the international solar market.

"Altair's technology offering is a massive boost for us, and we are especially excited to take advantage of the Altair Units licensing system, which is one of a kind," said Ignacio Melón Menéndez, general manager, Soltec Innovations. "It will give us seamless access to any solution we will need, the flexibility to run software anywhere, and unparalleled value that maximizes use and minimizes cost. We are excited to see how this will help us advance our technology."

To learn more about Altair's sustainability and energy solutions, visit https://www.altair.com/sustainability-solutions and https://www.altair.com/energy. For more information about Altair Units, visit https://altair.com/altair-units. To learn more about Soltec, visit https://soltec.com/.

About Altair
Altair is a global leader in computational science and artificial intelligence (AI) that provides software and cloud solutions in simulation, high-performance computing (HPC), data analytics, and AI. Altair enables organizations across all industries to compete more effectively and drive smarter decisions in an increasingly connected world – all while creating a greener, more sustainable future. For more information, visit https://www.altair.com/.

About Soltec 
Soltec Power Holdings (ticker: 'SOL') is a company strongly committed to innovation and sustainability which specializes in vertically integrated solutions for the photovoltaic solar energy industry. This company, based in Murcia (Spain), was founded in 2004 and currently operates in 16 countries, with a solid presence in Spain, North America and Latin America. The company is listed on Spain's Stock Exchange since 2020. Soltec's activity is structured around three main business areas: i) the photovoltaic project development division, known for its strong environmental, social and good governance commitment; ii) Soltec, industrial division and third manufacturer of solar trackers worldwide, providing clients with additional construction services to ensure a comprehensive and integrated value proposal. iii) Soltec Asset Management, a third business division allowing Soltec to manage portfolio assets with the aim to maximize mid- and long-term profits. 

Media contacts
Altair Corporate	Altair Investor Relations
Jennifer Ristic	Monica Gould, The Blueshirt Group
+1.216.849.3109	+1 212.871.3927
corp-newsroom@altair.com	ir@altair.com
Altair Europe/The Middle East/Africa
Charlotte Hartmann
+49 7031 6208 0
emea-newsroom@altair.com

 

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SOURCE Altair

FAQ

What is the partnership between Altair and Soltec about?

Altair's partnership with Soltec involves the implementation of its technology solutions to enhance Soltec's R&D in solar energy.

When was the Altair and Soltec partnership announced?

The partnership was announced on January 17, 2023.

How will Altair's technology benefit Soltec?

Altair's technology will help Soltec optimize existing solar technology and develop new products, particularly solar trackers.

What does the Altair Units licensing system offer?

The Altair Units licensing system provides flexible access to software solutions and aims to maximize value while minimizing costs for Soltec.

Which ticker symbol represents Altair?

Altair is represented by the ticker symbol ALTR.