Acquired in 2015 by global engineering and manufacturing firm Flex, founder-led Nextracker (NXT) plans to raise $500 million at a $3.1 billion market cap this week in the largest US IPO so far this year. The company designs and manufactures trackers used to rotate solar panels in ground-mounted utility-scale systems, enhancing energy production up to 25% over fix-tilt systems. Nextracker believes its trackers and connected technology solutions provide significant design advantages over legacy and competing trackers, enabling them to be easily deployed and work on difficult terrain and in adverse weather conditions, while boosting energy production and lowering operation and maintenance costs. Nextracker has a leading share both in...
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