Long-standing Agreement Between Array Technologies and Extruded Aluminum Corporation Boosts US Manufacturing with Nearly $35 Million Investment in Michigan Facility Expansion
September 11 2023 - 8:45AM
Array Technologies (NASDAQ: ARRY) (“Array” or “the Company”), a
global leader in utility-scale solar tracking solutions, reinforces
their long-standing, 10-year partnership with Extruded Aluminum
Corporation (EAC) which expands Array’s U.S. manufacturing
footprint with additional aluminum extrusion capacity. EAC, based
in Belding, Mich., manufactures multiple extrusion profiles that
are highly recyclable and contain recycled aluminum within their
extrusions, including structural fastening clamps. This
manufacturing collaboration underscores Array's robust commitment
to fostering a sustainable domestic supply chain while supporting
economic development and job growth in Michigan.
"Our relationship with EAC enhances our industry-leading
capability to source in excess of 85% domestic content, the highest
percentage in our sector," said Kevin Hostetler, CEO of Array.
"This strategic alliance not only elevates the dependability of our
supply chain but also offers our customers a reduced risk profile.
By focusing on proven U.S. manufacturers like EAC, we can enhance
on-time delivery and exceptional quality, supporting our clients in
meeting stringent Inflation Reduction Act (IRA) requirements."
This long-term collaboration supports EAC’s nearly $35 million
dollar capital expansion, which includes adding 180,000 square feet
to their existing facility and the addition of one of the largest
aluminum presses in Michigan. The new press will expand the
aluminum extrusion possibilities for EAC’s customers and enable
further design innovation for Array’s products. Once fully
operational, the expansion is expected to add 35-40 new jobs in the
surrounding communities. With a strong focus on environmental
health and safety, EAC is actively working toward an ISO 14001
registration.
“We are excited to fortify our long-term partnership with Array
Technologies,” said Charlie Hall, CEO of EAC. “Our alignment in
sustainable business practices, as well as our contribution to
Array’s ever-strengthening U.S. supply chain, reflects our shared
goals of industry leadership and commitment to renewable
energy.”
Array’s chief procurement officer, Gary Bennett, said, "In a
time when supply chain resilience is crucial, our collaboration
with EAC is not just a win for sustainability and quality, but also
a significant commitment to Michigan's economy. We are proud to be
fortifying our U.S.-based supply chain, benefiting our customers
and contributing to a more self-reliant renewable energy
sector."
Array Technologies remains committed to enhancing the resilience
of America’s renewable energy supply chain. The Company’s flexible
approach to domestic content allows it to adapt its supply chain to
offer in excess of 85% of U.S.-sourced materials for projects,
thereby empowering customers to align with IRA requirements
effectively. Array has been at the forefront of utilizing domestic
resources for U.S. projects, even before the enactment of the IRA,
and will continue to light the path toward a brighter, more
sustainable future.
About Array Technologies Array Technologies is
a leading American company and global provider of utility-scale
solar tracker 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 StatementsThis press release
contains forward-looking statements and is based upon Array’s
current interpretation of the IRA. 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 there to. 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.
Media Contact: Katharine FraserH+K
Strategies281-409-9351katharine.fraser@hkstrategies.com
Investor Relations Contact: Array Technologies,
Inc. Investor Relations 505-437-0010 investors@arraytechinc.com
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