Nextpower Advances Measurable Climate Leadership with SBTi-Validated Emissions Targets
FREMONT, Calif., March 10, 2026 — Nextpower™ (NASDAQ: NXT), a leading provider of intelligent power generation technology and solutions for solar power plants, today announced the validation of its near-term carbon emissions reduction targets by the Science Based Targets initiative (SBTi), a coalition of CDP, the United Nations Global Compact, World Resources Institute, and the World Wide Fund for Nature.
Under its validated SBTi targets, the company commits to reduce absolute Scope 1 and Scope 2 greenhouse gas emissions by 58.8% by fiscal year 2035 from a FY25 baseline, and to reduce Scope 3 emissions intensity per megawatt of solar trackers deployed by 63.8% over the same period.
“Over the past several years, we have strengthened our global supply chains, expanded domestic manufacturing in key markets, and launched new product innovations such as the NX Horizon® low carbon tracker,” said Dan Shugar, founder and CEO. “These actions are delivering carbon improvements while creating additional value for our customers. The SBTi validation is another important milestone for our company and reinforces our strategy and the progress we are making.”
In recent years, Nextpower has optimized regional supply chains and increased adoption of lower-carbon electric arc furnace (EAF) steel. The NX Horizon low carbon tracker solution now reduces embodied carbon emissions by up to 42% compared to traditional trackers, supported by third-party verified lifecycle assessments.
The SBTi validation follows Nextpower’s formal establishment of its ESG program in 2024 and its recent upgrade to “Prime” status in the ISS Corporate ESG rating in Q3 FY26. Together, these independent evaluations strengthen the company’s competitive position in global markets where ESG performance is an increasingly important consideration for investors and customers.
To learn more about Nextpower’s global sustainability initiatives, read the fiscal year 2025 Sustainability Report, or visit nextpower.com/sustainability.
About Nextpower (formerly Nextracker)
Nextpower™ (Nasdaq: NXT) designs, engineers, and delivers an advanced energy technology platform for solar power plants, innovating across structural, electrical, and digital domains. Our integrated solutions are designed to streamline project execution, increase energy yield and long-term reliability, and enhance customer ROI. Building on over a decade of technology and market leadership, the company delivers intelligent power generation systems and services to meet rapidly expanding global electricity demand. Nextpower partners with the world’s leading energy companies to power what’s next. Learn more at www.nextpower.com.
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including: statements regarding the potential benefits from the SBTi validation; statements regarding Nextpower’s commitment to SBTi targets and emissions reductions; statements regarding carbon improvements and value creation for customers; and statements concerning Nextpowers’s optimized regional supply chain.
These forward-looking statements are only predictions and may differ materially from actual results due to a variety of factors including, but not limited to: the market demand for products, solutions and services; the benefits our customers and the market places on such validation, including the value placed on the reduction in emissions; projections regarding the global demand for electricity and solar power; macro-economic trends; and legislative, regulatory and economic developments, including changing business conditions in our industry or markets overall and the economy in general.
These statements involve risks and uncertainties that could cause the actual results to differ materially from those anticipated by these forward-looking statements, including risks and uncertainties that are also described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in Nextpower’s most recent Quarterly Report on Form 10-Q, Annual Report on Form 10-K and other documents that Nextpower has filed or will file with the Securities and Exchange Commission.
There may be additional risks that Nextpower is not aware of or that Nextpower currently believes are immaterial that could also cause actual results to differ from these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements. Nextpower assumes no obligation to update these forward-looking statements.