Ojjo makes a unique truss system that reportedly uses half the steel of a conventional foundation and a design that minimizes grading requirements.
Nextracker, a global provider of intelligent solar trackers and software solutions, has acquired Ojjo in an all-cash transaction for approximately $119 million.
Ojjo is a California-based renewable energy company specializing in unique truss systems that use half the steel of a conventional foundation and a design that reportedly minimizes grading requirements on utility-scale projects.
The foundation company was founded by Jack West, who also founded Zep Solar. Zep was also known for its unique design, as it offered a rail-less way to install rooftop solar. Zep was acquired by SolarCity, which was later acquired by Tesla.
The Ojjo truss consists of underground anchors, above-ground legs and a truss cap. The Ojjo Earth Truss has an open tolerance of more than four feet regardless of the height of the Truss, the company reports, keeping grading requirements to a minimum. A hollow screw anchor is the heart of Ojjo foundation technology and is designed with a crimp collar welded at the top and a hollow point at the end. Ojjo also has a Truss Driver machine that uses automation software for installations.
Today, Ojjo is made up of industry veterans from Avantus, Vestas, SunPower, Recurrent Energy and Canadian Solar, as well as original members from the Zep days. Ojja reports that it has delivered more than 2 GW of truss foundations to date and has issued and applied for a total of 600 patents.
One of Ojja’s notable projects is Gemini, a 690 MW standalone solar and battery storage project in Nevada on Bureau of Land Management land in the Mojave Desert. The company reports that the project owner, Primergy, and EPC, Kiewit Power, selected the Ojjo solution because it eliminated the need for pre-drilling and reduced the need for grading.
Nextracker reports that it has been working with Ojjo for many years in testing, evaluating and collaborating on joint solar projects for customers. Nextracker sees the acquisition as a bonus for developers and EPC companies, as Ojja’s patented foundation portfolio in combination with Nextracker systems provides an integrated solution for a variety of ground conditions.
“Their team brings geotechnical products and expertise in foundation systems especially suited to rocky sites, with operating system intellectual property broadly applicable to a range of equipment,” said Dan Shugar, founder and CEO of Nextracker. “This acquisition expands our successful global tracker foundation business with differentiated, next-generation technology.”
Nextracker reports that Ojjo technology combined with its NX Horizon integrated tracker system will enhance Nextracker’s existing foundation capabilities. Additionally, Ojjo technology will continue to be available to customers for use with other compatible solar trackers.
“I am proud of what the Ojjo team has created. Nextracker is by far the best partner to bring this technology to its full potential in the utility market,” said Mike Miskovsky, outgoing CEO of Ojjo, who will provide transition support to Nextracker into the next fiscal quarter.
The transaction was completed on June 20, 2024 and is not expected to be material to the results for the 2025 financial year. The purchase price is subject to working capital and other customary purchase price adjustments.
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