FTC Solar Announces $75 Million Strategic Financing

$14.3 million received July 2Additional $23.2 million expected to close in third quarter of 2025Total funding scalable to $75 million

AUSTIN, Texas, July 07, 2025 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a leading provider of solar tracker systems, software and engineering services, today announced that it entered into a new $75 million strategic financing facility (the "Financing Facility") with Cleanhill Partners and affiliates, AV Securities and other long-term investors.

The Financing Facility provides for an initial term loan financing of up to $37.5 million. Of this amount, $14.3 million of term loan financing and an associated warrant issuance closed and funded on July 2, 2025. The balance of $23.2 million of the initial financing is expected to close in the third quarter of 2025, subject to shareholder approval of the maximum number of shares for which the warrants issued in connection with the Financing Facility may be exercised and the other conditions under the Financing Facility.

The Financing Facility also provides for up to an additional $37.5 million in funding to be available to the company as may be needed in the future upon mutual agreement between the company and the investors under the Financing Facility, for a total potential financing of $75 million.

"We couldn't be more excited to invest in what we view as a clear future industry leader in FTC Solar," said Ash Upadhyaya and Rakesh Wilson, Managing Partners at Cleanhill Partners. "Discussions with multiple industry participants led us to reach out to FTC Solar, and our research and feedback from developers and EPCs has only led us to be even more excited about the future prospects of the company. We believe FTC Solar has one of the most revolutionary technology platforms in the industry and a great team to drive strong future performance. ...