FTC Solar Inc. is a company that provides technology solutions and services for solar energy systems. The company was founded in 2017 and is based in San Francisco, California. FTC Solar's primary focus is on designing, developing, and delivering innovative single-axis trackers, fixed-tilt structures, and other balance-of-system components for solar power plants. The company also provides engineering, procurement, and construction services to solar project developers and investors.
FTC Solar's innovative designs for solar trackers and other balance-of-system components enable solar power plants to increase energy yield, optimize system performance, and reduce installation costs. The company's products are designed to operate in various environments, including extreme weather conditions and challenging terrains, making them ideal for solar projects in diverse geographies. FTC Solar's technology solutions are also highly customizable, allowing solar developers to tailor the products to their specific project requirements.
FTC Solar went public in December 2020 through a merger with a special purpose acquisition company (SPAC), called "Reconnaissance Energy Africa Ltd." The deal valued the company at approximately $1.5 billion, and the new entity was renamed "FTC Solar Inc." The merger provided FTC Solar with access to significant capital to accelerate its growth strategy and expand its global presence.
FTC Solar has a broad customer base that includes solar project developers, EPC companies, and investors in the solar industry. The company's solutions have been deployed in various solar projects, including utility-scale solar farms, commercial and industrial rooftop solar systems, and community solar projects. FTC Solar's technology solutions have helped its customers to reduce their carbon footprint, lower their energy costs, and increase their profitability.