UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): |
(Exact name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction |
(Commission File Number) |
(IRS Employer |
||
|
|
|
|
|
|
||||
|
||||
(Address of Principal Executive Offices) |
|
(Zip Code) |
||
Registrant’s Telephone Number, Including Area Code: |
|
(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
|
|
Trading |
|
|
|
|
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Item 8.01 Other Events.
On February 9, 2023, FTC Solar, Inc. issued a press release to announce a joint venture agreement with Taihua New Energy (Thailand) Co., LTD, a leading steel fabricator, for the creation of Alpha Steel LLC (“Alpha Steel”), a manufacturing partnership dedicated to producing steel components, including torque tubes, for utility-scale solar projects. The Alpha Steel facility, which will be located outside of Houston in Sealy, Texas, is expected to begin commercial production in mid-2023. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
Description |
99.1 |
|
104 |
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
|
|
FTC SOLAR, INC. |
|
|
|
|
Date: |
February 9, 2023 |
By: |
/s/ Phelps Morris |
|
|
|
Phelps Morris |
EXHIBIT 99.1
FTC Solar Announces Solar Tracker Manufacturing Joint Venture
Sealy, Texas facility will bolster domestic supply chain
AUSTIN, Texas — February 9, 2023 – FTC Solar, Inc. (Nasdaq: FTCI), a leading global provider of solar tracker systems, software, and engineering services, and Taihua New Energy (Thailand) Co., LTD (“Taihua New Energy”), a leading steel fabricator, today announced a joint venture agreement for the creation of Alpha Steel LLC (“Alpha Steel”), a manufacturing partnership dedicated to producing steel components, including torque tubes, for utility-scale solar projects.
“This agreement will further enhance our domestic supply chain, and our ability to support our customers and the growth of the U.S. solar market, with domestic manufacturing utilizing U.S. steel,” said Sean Hunkler, Chief Executive Officer of FTC Solar. “We’re pleased to announce an expanded relationship with Taihua New Energy, an existing partner, and a top global fabricator as we grow our presence in Texas.”
“This new production line will include state-of-the-art equipment to help FTC quickly deploy its differentiated technology to customers,” commented Kailiang Ji, CEO of Taihua New Energy, who has been named the General Manager of Alpha Steel. “We’re proud to continue to support the growth of clean energy in the United States and expand our relationship with FTC Solar.”
The Alpha Steel facility, located outside of Houston in Sealy, Texas, is expected to begin commercial production in mid-2023.
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.
FTC Solar Investor Contact:
Bill Michalek
Vice President, Investor Relations
FTC Solar
T: (737) 241-8618
E: IR@FTCSolar.com
# # #