FTC Solar jumps after signing MoU with Linxon, Hitachi Energy

By Reuters News

** Shares of FTC Solar FTCI.O rise 12.4% to $2.7

** FTC, along with Linxon and Hitachi Energy, sign a Memorandum of Understanding establishing a strategic collaboration framework to jointly pursue and deliver utility-scale solar and battery energy storage system (BESS) projects across North America and other mutually agreed markets

** Under the framework, Linxon will serve as the primary engineering, procurement, construction (EPC) integrator and market-facing contractor

** Hitachi Energy will contribute utility-scale solar inverters, power conversion systems for BESS, and the automation and control systems to operate the plants

** FTC Solar will provide solar trackers, racking systems, and related balance-of-system solutions

** Including session's moves, FTCI down 76.81% YTD

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