Array Technologies Launches Two New Utility-Scale Solar Tracker Systems to the U.S. Market: Providing Domestically Sourced Solutions that Meet Customer Demands

Rhea-AI Summary

Array Technologies, Inc. (NASDAQ: ARRY) has launched two new utility-scale solar tracker products, Array OmniTrack and Array STI H250, at the RE+ conference in Anaheim, California. These innovations aim to enhance project efficiency by reducing site preparation efforts and costs, capitalizing on the growing demand for solar solutions driven by the Inflation Reduction Act. The OmniTrack offers significant reductions in site grading, while the STI H250 serves irregular sites, supporting Array's commitment to deliver reliable and advanced solar technology.

Positive

• Launch of Array OmniTrack and STI H250 expected to improve project ROI.
• OmniTrack could reduce site grading work by up to 98%.
• Addresses increasing demand for utility-scale solar installations.

Negative

• None.

• Array OmniTrack™ is the industry’s premier terrain-following solution, designed to reduce site preparation work, ease installation, increase project ROI and lower total project costs
• Array STI H250, which will soon be offered in the U.S., provides a price competitive option ideally suited for sites with irregular boundaries, highly angled blocks, or fragmented project areas
• Array’s broad portfolio of innovative new product offerings continues to meet the increasing demand of utility-scale solar energy installations, particularly as the Inflation Reduction Act (IRA) has paved the way to deploy solar faster into the U.S. market
  

ALBUQUERQUE, N.M., Sept. 19, 2022 (GLOBE NEWSWIRE) -- Array Technologies, Inc. (NASDAQ: ARRY) (“Array” or “the Company”), one of the world’s largest providers of utility-scale solar tracker technology, is launching its two newest product offerings, Array OmniTrack™ and Array STI H250, at RE+ (Booth #2004) in Anaheim, Calif. from September 19-22.

Building on the Company’s more than 30-year long history of advanced solar technology, the U.S. launch of Array OmniTrack and Array STI H250 product families expands Array’s existing line of DuraTrack^® products. The three tracker product lines address varying customer requirements and the changing needs of the utility-scale solar industry and meet the IRA’s domestic sourcing content requirements. Array’s comprehensive product portfolio and track record of innovation provides customers with solutions that meet the requirements and priorities of their site. With these new product introductions, Array continues to deliver reliability, ease of installation, and extreme weather risk mitigation that provide optimal project returns to developers and engineering, procurement, and construction (EPC) companies.

“The addition of OmniTrack and STI H250 to our continuously evolving product portfolio will help our U.S. customers to better address the unique challenges of their sites. Having a broader offering for our customers helps bring more clean energy to the market faster, advancing the clean energy transition,” said Array CEO Kevin Hostetler. “Array’s global reach, combined with locally-focused sourcing solutions, enhances our ability to deliver the best utility-scale solar solutions to our customers around the world.”

Array OmniTrack, the newest tracking solution to the Array portfolio, is specially designed for customers developing project sites on uneven and challenging terrain. Array’s OmniTrack terrain-following solution mitigates challenges associated with projects on undulating terrain while reducing costs and schedules by enabling less complex site preparation and design. The Company has forecasted up to a 98% reduction in site grading work when utilizing OmniTrack.

Following Array’s acquisition of STI Norland in early 2022, the addition of the STI H250 further strengthens the Company’s global footprint, providing customers with a full suite of solar trackers products to meet every site and customer need. STI H250, which upholds Array’s stringent standards for reliability and durability, is designed for sites with irregular boundaries, highly angled blocks, or fragmented project areas. The tracker provides a favorable levelized cost of energy and is a competitive option with demonstrated success in Europe and South America.

About Array Technologies, Inc.
Array Technologies is a leading American company and global provider of utility-scale solar tracker technology. Engineered to withstand the harshest conditions on the planet, Array’s high-quality solar trackers and sophisticated software maximize energy production, accelerating the adoption of cost-effective and sustainable energy. Founded and headquartered in the United States, Array relies on its diversified global supply chain and customer-centric approach to deliver, commission and support solar energy developments around the world, lighting the way to a brighter, smarter future for clean energy. For more news and information on Array, please visit arraytechinc.com.

Forward-Looking Statements

This press release contains forward-looking statements that are based on our management’s beliefs and assumptions and on information currently available to our management. Forward-looking statements include statements regarding the potential uses and benefits of Array’s product offerings. Forward-looking statements include statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek," “should,” “will,” “would” or similar expressions and the negatives of those terms.

Array’s actual results and the timing of events could materially differ from those anticipated in such forward-looking statements as a result of certain risks, uncertainties and other factors, including the risks and uncertainties described in more detail in the Company’s most recent Annual Report on Form 10-K and other documents on file with the SEC, each of which can be found on our website www.arraytechinc.com.

Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Media Contact: 
Steve Brecken
H+K Strategies
832-285-4620
Steve.Brecken@hkstrategies.com

Investor Relations Contact: 
505-437-0010 
investors@arraytechinc.com

FAQ

What are the new products launched by Array Technologies?

Array Technologies has launched the Array OmniTrack and Array STI H250 at the RE+ conference.

How does Array OmniTrack improve solar project efficiency?

Array OmniTrack is designed to reduce site preparation work, enabling up to a 98% reduction in site grading.

What is the significance of the Inflation Reduction Act for Array Technologies?

The Inflation Reduction Act supports the faster deployment of solar energy solutions in the U.S., which benefits Array's product offerings.

What market needs do the new Array products address?

The new products are designed to meet the challenges of irregular site boundaries and fragmented project areas.

When was the launch of Array's new products?

The new products were launched on September 19, 2022, at the RE+ conference.