Nextracker Journey – from a startup to an independent public company

Today we announced the completion of our separation from Flex, after a successful 8-year combination and heralding an exciting new phase for Nextracker Inc. I will take this opportunity to reflect on our plan and accomplishments, offer thanks, and share the next steps.

We founded Nextracker 10 years ago to accelerate a renewably powered world. We achieved global tracker market leadership in 2015, and in that same year, Flex acquired our young company. While we operated as an independent subsidiary, Flex helped us mature business processes and serve customers in new markets like Brazil and India. I would like to thank former Flex executives who believed in our team and plan, including Doug Britt, Mike McNamara, Scott Graybeal, and Chris Collier. Special thanks to Bill Watkins who supported us then and serves today as our Chairman. And shout out to Nextracker cofounders Alexander Au, Tyroan Hardy, Marco Garcia, Mike Mehawich, and Marco Miller – all of whom are still with the company through these transitions, which provides insight into the culture and teamwork we strive for.

We’ve achieved tremendous growth by focusing on innovation, customers, execution, and team – delivering over 85 GW through technology and market leadership. Last month, we celebrated our 10th anniversary. We appreciate many customers participating in the event, and more importantly, for their confidence and guidance on product requirements over the years. We listen and respond to customer requirements with operational excellence and uncompromising quality.

Today we are excited to announce that Julie Blunden and Howard Wenger have joined our amazing Board and are thrilled to have so much relevant domain and business expertise guiding our company.

I would like to sincerely thank outgoing board members Christian Bauwens, Michael Hartung, Paul Lundstrom, Scott Offer, Becky Sidelinger, and Kyra Whitten, all Flex execs stepping down in conjunction with our Flex separation, for their fabulous support. We plan to continue our relationship with Flex as a valued contract manufacturer of electronics to NXT, a relationship we have enjoyed since 2014.

We have made so much progress in fulfilling our vision, and today #solar comprises the largest share of new power generation globally. The spinoff further empowers us to focus on our core business, expand our talent pool, and facilitate strategic opportunities to harness our full potential. Nextracker is well-positioned to keep driving utility-scale and distributed solar as the world transitions to renewable energy. We look forward to working tirelessly with all stakeholders to achieve a renewably powered economy.


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