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Nextracker, a solar tracker and software solutions company, announced it has acquired Ojjo in an all-cash transaction for approximately $119 million.
Ojjo is a U.S.-based renewable energy company specializing in foundation technology and services used in utility-scale ground-mount applications for solar power generation.
“We are thrilled to welcome Ojjo to Nextracker,” said Dan Shugar, founder and CEO of Nextracker. “Our customers greatly value proven integrated solutions to improve project design, simplify procurement, and reduce risk for their projects. This partnership builds on our successful product collaboration with Ojjo. Their team brings geotechnical products and expertise in foundation systems that are especially well-suited to rocky sites, with control system intellectual property that is broadly applicable to a range of equipment. This acquisition furthers our successful global tracker foundation business with next-generation, differentiated technology.”
Building on a multi-year relationship with Ojjo involving testing, evaluation, and collaboration on joint customer solar projects, Nextracker said adding Ojjo’s patented foundations portfolio will provide its customers with a holistic solar tracker and foundations systems solution. Ojjo technology and foundation solutions will be offered with Nextracker’s NX Horizon integrated solar tracker systems and advanced software solutions, and will also continue to be available to customers for use with other compatible solar trackers.
“I am proud of what the Ojjo team created. Nextracker is by far the best partner to drive this technology to its fullest potential in the utility-scale marketplace,” said Mike Miskovsky, outgoing Ojjo CEO, who will be providing transitional support to Nextracker into the next fiscal quarter.
Earlier in June, Nextracker and Unimacts, a provider of industrial manufacturing and supply chain solutions, jointly announced another new factory near Las Vegas, their second such endeavor in about nine months.
The new 160,000-square-foot facility in Sloan, Nevada, will produce steel torque tubes used to hold and rotate solar panels in solar power plants.
Last September, Nextracker and Unimacts christened a new facility, owned and operated by Unimacts, that produces steel components exclusively for Nextracker used in ground-mount solar power generation plants.
