FTC Solar Awarded Supply Contract for APA Group's 88 MW Australian Solar Project

Rhea-AI Summary

FTC Solar (NASDAQ: FTCI) announced a significant contract with Australia's APA Group to supply its Voyager+ 2P tracker for an 88 MW solar project in Mica Creek, QLD. This project marks FTC Solar's largest endeavor outside the U.S., aimed at enhancing energy yields and power density. The company has delivered over 2.5 gigawatts of trackers, showcasing its innovation in solar tracking technology and commitment to expanding globally. CEO Sean Hunkler emphasized the importance of this partnership in promoting renewable energy adoption in Australia.

Positive

• FTC Solar secured a contract with APA Group for an 88 MW solar project, marking a significant international expansion.
• The Voyager+ 2P tracker is expected to enhance energy yields and power density for the project.
• This project is the largest for FTC Solar outside the U.S., reflecting the company's growth strategy.

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• None.

AUSTIN, Texas, Feb. 7, 2022 /PRNewswire/ -- FTC Solar (NASDAQ: FTCI), an innovator in solar tracking technology, was awarded a contract from leading Australian energy infrastructure business APA Group to supply FTC Solar's 2P Voyager tracker in an effort to ensure maximum installation efficiency on APA's new 88 MW solar project in Mica Creek, QLD, Australia.

The solar project, located in Mount Isa Australia represents FTC Solar's largest project outside the United States.

FTC Solar's Voyager+ 2P tracker will help APA Group achieve higher energy yields and greater power density. In addition, this will be FTC Solar's largest project to date outside the U.S.

"This project is a notable achievement for our company as we continue to deploy our newest Voyager+ tracker and expand our presence around the world," said Sean Hunkler, CEO of FTC Solar. "Working with APA, who has been a champion for the renewable energy transition in Australia, and UGL Engineering Pty Limited, who were awarded the design and construct contract for the project, will allow us to further demonstrate all the benefits of our differentiated tracker solutions, as well as why 2P technologies are an important asset in accelerating solar power adoption."

FTC Solar has delivered more than 2.5 gigawatts of trackers, including its Voyager+ solution for large format modules which was unveiled in early 2021.

About FTC Solar Inc.
Founded in 2017 by a group of renewable energy industry veterans, FTC Solar is a fast-growing, global provider of solar tracker systems, technology, software, and engineering services. Solar trackers significantly increase energy production at solar power installations by dynamically optimizing solar panel orientation to the sun. FTC Solar's innovative tracker designs provide compelling performance and reliability, with an industry-leading installation cost-per-watt advantage.

https://www.ftcsolar.com/

Forward Looking Statements

This press release contains forward looking statements. These statements are not historical facts but rather are based on our current expectations and projections regarding our business, operations and other factors relating thereto. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are used to identify these forward looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual results may differ materially from those in the forward looking statements as a result of a number of factors, including those described in more detail in our filings with the U.S. Securities and Exchange Commission, including the section entitled "Risk Factors" contained therein.

FTC Solar undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

Media Contact:
Technica Communications for FTC Solar
Gabrielle Reitano, Account Manager
ftcsolar@technicacommunications.com

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SOURCE FTC Solar

FAQ

What is the significance of FTC Solar's contract with APA Group?

The contract for the 88 MW solar project in Australia represents FTC Solar's largest project outside the U.S., highlighting its international growth.

What technology will FTC Solar supply to APA Group?

FTC Solar will provide its Voyager+ 2P tracker, designed to maximize energy yields and power density.

How much energy will the new solar project produce?

The project will have a capacity of 88 MW, contributing significantly to renewable energy efforts in Australia.

When was the contract between FTC Solar and APA Group announced?

The contract was announced on February 7, 2022.