FTC Solar Announces 300MW Tracker Agreement in Spain and Italy to Include Utility-Scale Agrivoltaic Projects

FTC solutions offer ease of installation, high energy density, and fewer required foundations

Voyager 2P tracker design also optimal for agrivoltaic projects

AUSTIN, Texas, Aug. 09, 2023 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (Nasdaq: FTCI), a leading provider of solar tracker systems, software, and engineering services, announced today that it has been selected by European renewables developer Five-E to supply at least 300 megawatts of its solar tracker technology for multiple project sites in Italy and Spain. Five-E is expected to utilize FTC’s Voyager tracker for most projects.

"We are very pleased to be selected by Five-E for this portfolio of European projects, which includes multiple utility-scale agrivoltaic projects,” said Patrick Cook, Chief Commercial Officer. “Our trackers are always designed to offer benefits such as fast assembly, reduced part count, and high slope tolerance. For agrivoltaic projects, the high energy density and significantly reduced foundation count of our Voyager tracker, relative to competing products and higher ground clearance, makes Voyager the optimal solution. We couldn’t be happier to see more customers in more countries realize these benefits.

Iñigo Asensio, Founder and CEO of Five-E, said, “We’re pleased to sign this partnership agreement with FTC Solar. With compelling solutions and an offering that spans 1P and 2P trackers, software, and engineering services, FTC can meet us where we need to be to optimize each project.”

Delivery on these projects is currently expected to begin in late 2023 and be completed by the end of 2025.

FTC Solar Investor Contact:

Bill Michalek 

Vice President, Investor Relations 

FTC Solar

T: (737) 241-8618 

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Forward-Looking Statements 

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