
Albuquerque, NM, February 4, 2024–ARRAY Technologies, Inc. (“ARRAY” or the “Company”), a leading U.S. manufacturer of solar tracking technology, issued the following statement in response to the news that the country has reached a historic manufacturing milestone, surpassing 50 gigawatts (GW) of domestic solar module production capacity.
“This critical milestone signals that the U.S. is on the right track to build a strong domestic solar supply chain as demand for electricity surges. As an American company with a 30-year track record, we are proud to be a part of the U.S. manufacturing renaissance that is creating jobs and fueling communities with reliable, affordable power.
Thanks to the manufacturing production tax credits, we have accelerated our domestic expansion, enabling us to onshore components and double our Albuquerque manufacturing capacity. ARRAY is committed to providing our customers with 100% domestic content trackers by mid 2025,” said ARRAY Chief Executive Officer, Kevin G. Hostetler.
About ARRAY
ARRAY Technologies (NASDAQ: ARRY) is a leading global renewable energy company and provider of utility-scale solar tracking technology. Engineered to withstand the harshest conditions on the planet, ARRAY’s high-quality solar trackers and sophisticated software maximize energy production, accelerating the adoption of cost-effective and sustainable energy. Founded and headquartered in the United States, ARRAY relies on its diversified global supply chain and customer-centric approach to deliver, commission, and support solar energy developments around the world, lighting the way to a brighter, smarter future for clean energy. For more news and information on ARRAY, please visit arraytechinc.com.
Forward Looking Statement
This press release contains forward-looking statements. These statements are not historical facts but rather are based on the Company’s current expectations and projections regarding its 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. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors. Forward-looking statements should be evaluated together with the risks and uncertainties that affect our business and operations, particularly those described in more detail in the Company’s most recent Annual Report on Form 10-K and other documents on file with the SEC, each of which can be found on our website www.arraytechinc.com. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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