NEXTracker Raises $25 Million Of Growth Financing


California-based single-axis tracker manufacturer NEXTracker Inc. has completed $25 million in equity and growth capital financing.

The funding round, which closed in December, includes investments from SJF Ventures, Tennenbaum Capital Partners, and earlier investors Sigma Partners and DBL Investors.

NEXTracker says the investment has enabled the company to achieve product shipments of 200 MW per month while expanding global marketing efforts.

"NEXTracker's technology is facilitating large- and utility-scale project deployments by minimizing site grading and grounding requirements, while simplifying design, assembly, installation, cleaning and maintenance," says Todd Jacquez-Fissori, managing director and head of the energy technology group at Tennenbaum Capital Partners.

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