Press Release

AUSTIN, Texas, May 30, 2024 /PRNewswire/ -- FTC Solar, Inc. (Nasdaq: FTCI) a leading provider of innovative solar energy solutions, announces the launch of its Automated Hail Stow Solution, aimed at minimizing solar panel damage caused by hail storms. The solution integrates advanced technology with meteorological data to automatically adjust the positioning of solar panels, reducing the risk of hail-related damage.

Hail storms pose a significant threat to solar panel installations, with insurance claims in the US averaging about $58.4 million per incident. In response to this challenge, FTC Solar has developed an automated hail stow solution that leverages its expertise in solar tracker technology and strategic partnerships with industry experts.

FTC Solar collaborated with VDE Americas, a renowned third-party industry expert, to study hail events and their impact on solar panel installations. The research led to the development of a hail stow strategy that positions solar modules at the maximum angle allowed by the tracker, away from prevailing winds, to minimize direct hail and associated wind impacts.

Key features of FTC's Automated Hail Stow Solution include:

• Integration with FTC's proprietary operations management platform, SUNOPS, for enhanced control and monitoring of PV plants.
• Utilization of meteorological data combined with hail stow strategy to ensure automated and timely mitigation against hail events.
• Multi-radar approach for real-time, highly accurate meteorological data updates.
• Flexibility for users to choose between auto-stow or manual stow options.
• Notification feature to warn users of impending hail events.
• Customizable stow thresholds based on risk appetite and site location, including factors such as hail size, probability, and radius.
• Compatibility with leading meteorological data providers, ensuring seamless integration and data security through encryption.

"We're excited to introduce our Automated Hail Stow Solution, offering a proactive approach to mitigating hail-related damage to solar panel installations," said Andrew Morse, Senior Director of Software at FTC Solar. "By combining advanced technology with meteorological insights, we aim to provide our customers with greater peace of mind and protection for their solar assets."

The Automated Hail Stow Solution reflects FTC Solar's commitment to innovation and sustainability in the renewable energy sector. With a focus on enhancing operational efficiency and minimizing risk, FTC continues to drive progress towards a more resilient and sustainable future.

For more information about FTC Solar's Automated Hail Stow Solution, please visit: https://www.ftcsolar.com/start-conversation/

About FTC Solar Inc.

Founded in 2017 by a group of renewable energy industry veterans, FTC Solar is a leading provider of solar tracker systems, technology, software, and engineering services. Solar trackers significantly increase energy production at solar power installations by dynamically optimizing solar panel orientation to the sun. FTC Solar's innovative tracker designs provide compelling performance and reliability, with an industry-leading installation cost-per-watt advantage.

Forward-Looking Statements
This press release contains forward-looking statements. These statements are not historical facts but rather are based on our current expectations and projections regarding our business, operations, and other factors relating thereto. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties, and assumptions that are difficult to predict. In addition, this press release contains statements about third parties and their commercial activity. We have not independently verified or confirmed such statements and have instead relied on the veracity of information as provided to us by such third parties related to such statements. You should not rely on our forward-looking statements or statements related to third parties or their commercial activities as predictions of future events, as actual results may differ materially from those in the forward-looking statements or statements related to third parties or their commercial activities because of several factors, including those described in more detail above and in our filings with the U.S. Securities and Exchange Commission, including the section entitled "Risk Factors" contained therein. FTC Solar undertakes no duty or obligation to update any forward-looking statements or statements related to third parties or their commercial activities contained in this release as a result of new information, future events, or changes in its expectations, except as required by law.

Media Contact:

Sarah Evans
Zen Media
sarah@zenmedia.com

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SOURCE FTC Solar Inc