Array Technologies Announces Price for IPO

Solar technology company Array Technologies (NASDAQ: ARRY) made its public debut on the Nasdaq Exchange, pricing its IPO on Wednesday Oct. 14.

Array Technologies' primary product is its DuraTrack system, an integrated system of steel supports, electric motors, gearboxes and electronic controllers. These controllers are commonly referred to as single-axis trackers, which allow the solar panels to move throughout the day in order to maintain an "optimal orientation to the sun." This patented design increases and optimizes energy production.

The solar technology company is the second-largest manufacturer of ground-mounting systems for solar energy. Tracking systems like the ones offered by Array Technologies were used in 70% of ground mounted solar projects in 2019.

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