RayTracker has more than tripled its quarter-over-quarter revenue in the last two successive quarters, with a strong pipeline of demand expected in 2011. So far this year the company has received purchase orders for 11 projects, increasing its pipeline to over 1.5GW. The company will now continue to ramp production throughout the rest of the year and into 2011 in order to meet expected demand.
“As the credit crunch continues to thaw, we’re seeing an increased and strong demand from project developers looking for ways to improve the performance and economics of their new solar installations,” said Mark Henderson, president of RayTracker.
“With our product’s position as the industry’s most bankable horizontal single axis tracker available to solar EPC companies, we are asked to bid on an average of 10MW of new projects per day, and our pipeline indicates we will see a strong growth trend continuing into the future. Our factories are currently running at 7MW per month and we have recently increased our capacity to 25MW per month of total capacity to cover our expanding growth,” concluded Henderson.