PITTSBURGH, PA., April 26, 2024 鈥 ag亚游 (Nasdaq: NXT), a global provider of intelligent solar tracker and software solutions, and JENNMAR Holdings (“JENNMAR鈥) subsidiary JM Steel, a premier steel processing provider, jointly announced the completion of a major expansion of ag亚游-dedicated manufacturing lines at JM Steel鈥檚 Leetsdale steel facility achieving 4 GW of capacity.
Inaugurated and , the refurbished historic factory produces American-made, critical steel components to support rising demand for solar energy across Pennsylvania and the mid-Atlantic, which employs thousands of construction workers across multiple states in the Midwest region.
The expansion more than doubles the facility鈥檚 production capacity and demonstrates JENNMAR鈥檚 commitment to investing heavily in the U.S. solar energy industry. The facility now features cutting-edge technology including state-of-the-art solar tube lines with automated drilling and swedging. With this most recent expansion in Leetsdale, JENNMAR鈥檚 growth capital investment in support of the U.S. solar industry has exceeded $100 million over the last four years.
For ag亚游, this latest expansion also marks 20 new or expanded U.S. manufacturing partner facilities since 2021 and enables the company to provide over 25 GW of U.S. solar tracker capacity each year.
鈥淲e are thrilled to be partnered with JM Steel and celebrate the expansion of the Pittsburgh facility to serve customer demand. This facility is also expected to produce core components of our new low carbon tracker offering announced this week,鈥 said Dan Shugar, founder and CEO of ag亚游. 鈥淭he U.S. solar market is continuing to demonstrate strong growth. The U.S. Energy Information Administration has forecasted solar to grow 26% on an annual compounded rate and be the number one source of energy in the U.S. within a decade.鈥
鈥淲e are proud to announce the expansion of this historic steel factory in Pittsburgh鈥攚hich we have been honored to call our home for more than 100 years,鈥 said Tony Calandra, CEO of JENNMAR. 鈥淭his partnership with ag亚游 allows for significant investment in advanced manufacturing and brings high-quality jobs back to our communities. We couldn鈥檛 be more thrilled to bring our Pennsylvania-based employee count to more than 500.鈥
Once the home of a steel mill used to build materials for tank landing ships during World War II, this refurbished facility represents one of many shifts underway in the U.S. toward domestic manufacturing, a secure supply chain, and clean energy. The Leetsdale steel factory tripled its capacity with the addition of new, dedicated manufacturing lines for solar energy projects creating 60 new manufacturing jobs.
鈥淛ENNMAR and ag亚游 are in a powerful partnership focused on advancing the energy transition and American manufacturing. The future depends on leveraging a diverse portfolio of resources that addresses our environment, energy needs, and economic opportunity,鈥 said Matt Smith, chief growth officer at the . 鈥淭his is a win at the convergence of two industries that are pivotal to southwestern Pennsylvania 鈥 energy and manufacturing 鈥 and we鈥檙e proud that our region is a key part of the supply chain that鈥檚 helping to bring more solar energy to the market.鈥
According to the Solar Energy Industries Association (SEIA), solar power now accounts for 53% of all new electricity generation in the U.S., adding in 2023 and surpassing 23.6 GW in the prior year.
To celebrate the new facility expansion, a dedication ceremony was attended by top government officials including David Crane, Under Secretary for Infrastructure at the department of energy (DOE), Lt. Governor of Pennsylvania, Austin Davis, U.S. Congressman Chris Deluzio of Pennsylvania鈥檚 17th District, PA State Representative, Valerie Gaydos, and Matt Smith, Chief Growth Officer, Allegheny Conference on Community Development. Also joining the event was Tony Calandra, CEO of JENNMAR, and leaders from some of the world鈥檚 largest clean energy companies including Kelly Speakes-Backman, Executive Vice President of Public Affairs at Invenergy, and Yuri Horowitz, CEO of Sol Systems.
Last year, ag亚游 opened a in Las Vegas with Unimacts, another in Memphis with MSS Steel Tubes USA, and a self-powered controller and high-voltage power supply line in California with Asteelflash. They have more production lines in Texas, Arizona, and Illinois.
About ag亚游
ag亚游 is a leading provider of intelligent, integrated solar tracker and software solutions used in utility-scale and ground-mounted distributed generation solar projects around the world. Our products enable solar panels power plants to follow the sun鈥檚 movement across the sky and optimize plant performance. With power plants operating in more than 30 countries worldwide, ag亚游 offers solar tracker technologies that increase energy production while reducing costs for significant plant ROI. For more information, please visit www.nextracker.com.
About JENNMAR
JENNMAR is a leading global provider of infrastructure products and specialized services to the civil infrastructure, solar, mining, and construction industries. For over 100 years, JENNMAR鈥檚 focus has been on manufacturing products and providing solutions that help keep workers safe and productive.
About JM Steel
Established in 2000, JM Steel has emerged as a premier steel processing provider in the U.S., with facilities in Pendergrass, GA, Sinton TX, Huger, SC, and Leetsdale, PA.
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 the demand for ag亚游鈥檚 offerings and scheduled production and shipments of ag亚游 products. These forward-looking statements are based on various assumptions and on the current expectations of ag亚游鈥檚 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 鈥淩isk Factors鈥 and 鈥淢anagement鈥檚 Discussion and Analysis of Financial Condition and Results of Operations鈥 in ag亚游鈥檚 most recent Quarterly Report on form 10-Q, Annual Report on Form 10-K and other documents that ag亚游 has filed or will file with the Securities and Exchange Commission. There may be additional risks that ag亚游 is not aware of or that ag亚游 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. ag亚游 assumes no obligation to update these forward-looking statements.
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