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Nextracker Launches Industry’s First Low Carbon Solar Tracker Solution

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Nextracker Launches Industry’s First Low Carbon Solar Tracker Solution
News

News

Nextracker Launches Industry’s First Low Carbon Solar Tracker Solution

2024-04-23 18:01 Last Updated At:18:21

FREMONT, Calif.--(BUSINESS WIRE)--Apr 23, 2024--

Nextracker (Nasdaq: NXT), a global provider of intelligent solar tracker and software solutions, today announced the availability of its flagship NX Horizon ™ solar tracker system with up to 35% lower carbon footprint. Marking a significant milestone for solar energy, the NX Horizon low carbon tracker solution culminates Nextracker’s technology leadership and robust supply chain solutions including the use of electric arc furnace (EAF) manufacturing, recycled steel, and logistics strategically located near project sites.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240423430902/en/

Initially offered in the United States, the low carbon tracker solution includes Life Cycle Assessment (LCA) documentation using a third-party verified analysis of environmental benefits, including reductions in carbon footprint, land use, water consumption and other metrics associated with the sourcing, manufacturing, delivery, and operation of solar trackers. Nextracker also achieved the Carbon Trust1 Product Carbon Footprint label certification for its NX Horizon low carbon solar tracker system demonstrating it has met the global standard for carbon emission data collecting, evaluation and reporting methodology throughout the life cycle of its solar trackers.

“Our low carbon tracker delivers measurable results in decarbonizing solar power through circular and increasingly renewably powered steelmaking, optimized logistics, and careful selection of raw material providers,” said Dan Shugar, Nextracker founder and CEO. “We appreciate our customers helping us drive toward a cleaner, more robust supply chain to provide third-party verification for providers and consumers of solar power to meet their Scope 3 and other decarbonization goals and requirements.”

Nextracker secured initial orders for its newly launched NX Horizon low carbon tracker from several solar customers–both have committed to reduced carbon solar tracker systems for their U.S.-based solar power projects.

“Nextracker's commitment to advancing low carbon solutions exemplifies the innovation and leadership needed to propel the energy sector forward. At Sol Systems, we are proud to collaborate with partners like Nextracker who share our vision for a cleaner, more resilient energy landscape. Together, we are not just promoting low carbon technologies; we are setting the standards for tomorrow’s energy infrastructure,” said Yuri Horwitz, Sol Systems co-founder and CEO.

“Upstream control for sourcing sustainably produced steel and components is highly complex and requires expertise and deep partnerships to navigate,” stated Kevin Smith, chief executive officer at Arevon. “Nextracker continues to be an industry leader on operational excellence along with solar tracker engineering design that already significantly reduces the carbon footprint for our utility-scale solar projects.”

Nextracker is at the forefront of implementing sustainable supply chain solutions for the energy sector through controlled upstream sourcing of raw materials and domestic manufacturing for its solar tracker systems. Electric Arc Furnace (EAF) processing uses recycled steel and electricity to generate new steel, significantly reducing greenhouse gas emissions compared to traditional Basic Oxygen Furnace (BOF) operations, which rely on iron ore and coal. This not only aligns with Nextracker’s commitment to minimize environmental impact but also leverages American scrap steel supply enabling resource efficiency and growth for the U.S. steel industry. Nextracker has also reduced carbon-intense 2 materials such as aluminum from its NX Horizon low carbon offering to under 1% aluminum by weight in the product.

Jon Moore, CEO of research firm BloombergNEF: “Industry represents more than 20% of global greenhouse gas emissions; steel alone is 7%, making it a crucial industry to decarbonize. Based on our analysis, the steel sector invested $35 billion last year in clean capacity globally, but much more is needed to reach net-zero. Demand for green steel is an important signal to steelmakers that they need to bring new, low-carbon capacity online and accelerate their net-zero transition.”

The new NX Horizon low carbon tracker offering is available now with the first shipments scheduled for later this year. For more information, visit our website.

Nextracker at CLEANPOWER 2024

Learn more from Nextracker panel speakers at this year’s CLEANPOWER (ACP) conference being held May 6-9, 2024 at the Minneapolis Convention Center for a discussion on the following topics:

About Nextracker

Nextracker is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and distributed generation solar projects around the world. Its products enable solar panels to follow the sun’s movement across the sky and optimize plant performance. With plants operating in more than thirty countries worldwide, Nextracker offers solar tracker technologies that increase energy production while reducing costs for significant plant ROI. For more information, visit Nextracker.com

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements relating to future orders, demand for Nextracker’s offerings and scheduled shipments of Nextracker products. These forward-looking statements are based on various assumptions and on the current expectations of Nextracker’s management. These statements involve risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties that are described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Nextracker’s most recent Quarterly Report on form 10-Q, Annual Report on Form 10-K and other documents that Nextracker has filed or will file with the Securities and Exchange Commission. There may be additional risks that Nextracker is not aware of or that Nextracker currently believes are immaterial that could also cause actual results to differ from the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Nextracker assumes no obligation to update these forward-looking statements.

1 The Carbon Trust is an independent organization that provides verification of sustainability achievements. The Carbon Trust's Product Carbon Footprint label verifies that a brand is working to measure and reduce a product's carbon emissions. LCA is a method that assesses the environmental impact of a product's life cycle through data collection and evaluation. It considers all phases of a product's life, including raw material extraction, production, use, and disposal. LCA also records and calculates the greenhouse gases produced during a product's life cycle.

2 International Energy Agency, 2023, https://www.iea.org/energy-system/industry/aluminium

Nextracker introduces industry’s first solar tracker with up to 35 percent reduced carbon footprint (Photo: Nextracker)

Nextracker introduces industry’s first solar tracker with up to 35 percent reduced carbon footprint (Photo: Nextracker)

KALAMATA, Greece (AP) — Nine Egyptian men went on trial in southern Greece on Tuesday, accused of causing a shipwreck that killed hundreds of migrants and sent shockwaves through the European Union’s border protection and asylum operations.

Outside the courthouse, a small group of protesters clashed with riot police as the proceedings got underway. There were no reports of serious injuries but two people were detained.

The defendants, most in their 20s, face up to life in prison if convicted on multiple criminal charges over the sinking of the “Adriana” fishing trawler on June 14 last year off the southern coast of Greece.

International human rights groups argue that their right to a fair trial is being compromised as they face judgment before an investigation is concluded into claims that the Greek coast guard may have botched the rescue attempt.

More than 500 people are believed to have gone down with the fishing trawler, which had been traveling from Libya to Italy. Following the sinking, 104 people were rescued — mostly migrants from Syria, Pakistan and Egypt — and 82 bodies were recovered.

The protesters could be heard inside the packed courtroom as presiding judge Eftichia Kontaratou read out the names of the nine defendants.

Defense lawyer Spyros Pantazis asked the court to declare itself incompetent to try the case, arguing that the sinking occurred outside Greek territorial waters. “The court be turned into an international punisher,” Pantazis told the panel of three judges. United Nations Secretary General Antonio Guterres last year described the shipwreck as “horrific."

The sinking renewed pressure on European governments to protect the lives of migrants and asylum seekers trying to reach the continent, as the number of people traveling illegally across the Mediterranean continues to rise every year.

Lawyers from Greek human rights groups are representing the nine Egyptians, who deny the smuggling charges.

“There’s a real risk that these nine survivors could be found ‘guilty’ on the basis of incomplete and questionable evidence, given that the official investigation into the role of the coast guard has not yet been completed,” said Judith Sunderland, an associate director for Europe and Central Asia at Human Rights Watch.

Authorities say the defendants were identified by other survivors and the indictments are based on their testimonies.

The European border protection agency Frontex says illegal border detections at EU frontiers increased for three consecutive years through 2023, reaching the highest level since the 2015-2016 migration crisis — driven largely by arrivals at the sea borders.

Police guard outside a court house in Kalamata, southwestern Greece, on Tuesday, May 21, 2024. Nine Egyptian men go on trial in southern Greece on Tuesday, accused of causing a shipwreck that killed hundreds of migrants and sent shockwaves through the European Union’s border protection and asylum operations. (AP Photo/Thanassis Stavrakis)

Police guard outside a court house in Kalamata, southwestern Greece, on Tuesday, May 21, 2024. Nine Egyptian men go on trial in southern Greece on Tuesday, accused of causing a shipwreck that killed hundreds of migrants and sent shockwaves through the European Union’s border protection and asylum operations. (AP Photo/Thanassis Stavrakis)

A protester bleeds after clashes with police outside a court house in Kalamata, southwestern Greece, on Tuesday, May 21, 2024. Nine Egyptian men go on trial in southern Greece on Tuesday, accused of causing a shipwreck that killed hundreds of migrants and sent shockwaves through the European Union’s border protection and asylum operations. (AP Photo/Thanassis Stavrakis)

A protester bleeds after clashes with police outside a court house in Kalamata, southwestern Greece, on Tuesday, May 21, 2024. Nine Egyptian men go on trial in southern Greece on Tuesday, accused of causing a shipwreck that killed hundreds of migrants and sent shockwaves through the European Union’s border protection and asylum operations. (AP Photo/Thanassis Stavrakis)

Police clash with protesters outside a court house in Kalamata, southwestern Greece, on Tuesday, May 21, 2024. Nine Egyptian men go on trial in southern Greece on Tuesday, accused of causing a shipwreck that killed hundreds of migrants and sent shockwaves through the European Union’s border protection and asylum operations. (AP Photo/Thanassis Stavrakis)

Police clash with protesters outside a court house in Kalamata, southwestern Greece, on Tuesday, May 21, 2024. Nine Egyptian men go on trial in southern Greece on Tuesday, accused of causing a shipwreck that killed hundreds of migrants and sent shockwaves through the European Union’s border protection and asylum operations. (AP Photo/Thanassis Stavrakis)

Police clash with protesters outside a court house in Kalamata, southwestern Greece, on Tuesday, May 21, 2024. Nine Egyptian men go on trial in southern Greece on Tuesday, accused of causing a shipwreck that killed hundreds of migrants and sent shockwaves through the European Union’s border protection and asylum operations. (AP Photo/Thanassis Stavrakis)

Police clash with protesters outside a court house in Kalamata, southwestern Greece, on Tuesday, May 21, 2024. Nine Egyptian men go on trial in southern Greece on Tuesday, accused of causing a shipwreck that killed hundreds of migrants and sent shockwaves through the European Union’s border protection and asylum operations. (AP Photo/Thanassis Stavrakis)

Two of nine Egyptian men accused of causing a shipwreck last year that killed hundreds of migrants arrive at a courthouse for the start of their trial in Kalamata, southwestern Greece, Tuesday, May 21, 2024. The defendants face up to life in prison if convicted on multiple criminal charges. (AP Photo/Thanassis Stavrakis)

Two of nine Egyptian men accused of causing a shipwreck last year that killed hundreds of migrants arrive at a courthouse for the start of their trial in Kalamata, southwestern Greece, Tuesday, May 21, 2024. The defendants face up to life in prison if convicted on multiple criminal charges. (AP Photo/Thanassis Stavrakis)

Two of nine Egyptian men accused of causing a shipwreck last year that killed hundreds of migrants arrive at a courthouse for the start of their trial in Kalamata, southwestern Greece, Tuesday, May 21, 2024. The defendants face up to life in prison if convicted on multiple criminal charges. (AP Photo/Thanassis Stavrakis)

Two of nine Egyptian men accused of causing a shipwreck last year that killed hundreds of migrants arrive at a courthouse for the start of their trial in Kalamata, southwestern Greece, Tuesday, May 21, 2024. The defendants face up to life in prison if convicted on multiple criminal charges. (AP Photo/Thanassis Stavrakis)

Two of nine Egyptian men accused of causing a shipwreck last year that killed hundreds of migrants arrive at a courthouse for the start of their trial in Kalamata, southwestern Greece, Tuesday, May 21, 2024. The defendants face up to life in prison if convicted on multiple criminal charges. (AP Photo/Thanassis Stavrakis)

Two of nine Egyptian men accused of causing a shipwreck last year that killed hundreds of migrants arrive at a courthouse for the start of their trial in Kalamata, southwestern Greece, Tuesday, May 21, 2024. The defendants face up to life in prison if convicted on multiple criminal charges. (AP Photo/Thanassis Stavrakis)

One of nine Egyptian men accused of causing a shipwreck that killed hundreds of migrants waves as he is led by police to a courthouse in Kalamata, southwestern Greece, Tuesday, May 21, 2024. The defendants face up to life in prison if convicted on multiple criminal charges. (AP Photo/Thanassis Stavrakis)

One of nine Egyptian men accused of causing a shipwreck that killed hundreds of migrants waves as he is led by police to a courthouse in Kalamata, southwestern Greece, Tuesday, May 21, 2024. The defendants face up to life in prison if convicted on multiple criminal charges. (AP Photo/Thanassis Stavrakis)

One of nine Egyptian men accused of causing a shipwreck last year that killed hundreds of migrants waves as he is led by police to a courthouse in Kalamata, southwestern Greece, Tuesday, May 21, 2024. The defendants face up to life in prison if convicted on multiple criminal charges. (AP Photo/Thanassis Stavrakis)

One of nine Egyptian men accused of causing a shipwreck last year that killed hundreds of migrants waves as he is led by police to a courthouse in Kalamata, southwestern Greece, Tuesday, May 21, 2024. The defendants face up to life in prison if convicted on multiple criminal charges. (AP Photo/Thanassis Stavrakis)

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