-Third-party Life Cycle Assessment (LCA) methodology confirms up to 35% reduced carbon footprint throughout the entire product lifecycle for Nextracker NX Horizon™ low carbon solution -Inaugural orders demonstrate the solar industry demand for decarbonized solutions

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.

"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."

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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-intense2 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:

"Domestic Clean Energy Manufacturing," Dan Shugar, founder and CEO, Nextracker (May 7, 2:15-3:15 p.m. CT, Charge Up Theater).
"Solar Supply Chain," Alejandro Riofrio, vice president, supply chain North America, Nextracker (May 8, 2:15-3:15 p.m. CT, Charge Up Theater).
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