ARRAY Technologies Introduces Reusable Packaging Option

Rhea-AI Summary

ARRAY Technologies (NASDAQ: ARRY), a leader in utility-scale solar tracking, has launched a reusable packaging solution to replace traditional cardboard boxes with durable plastic casing. This innovation aims to reduce waste and support customers' sustainability goals. The new packaging offers several advantages:

1. Increased efficiency: More tracker components can be transported per bulk.
2. Reduced transportation: Fewer trucks required on-site.
3. Decreased labor: Less handling, receiving, and transportation work.
4. Long lifespan: 15 years of use across the supply chain.
5. Cost savings: Potential for significant reductions in packaging expenses.

ARRAY has already successfully deployed this concept on a recent project, garnering strong customer interest for future installations. The company is actively seeking additional customers to pilot this initiative and further analyze its potential savings and environmental impact.

Positive

• Introduction of reusable plastic packaging to replace cardboard boxes, reducing waste and costs
• New packaging allows for more efficient transportation of tracker components
• Reduction in the number of trucks required on-site, decreasing labor and transportation costs
• 15-year lifespan of the reusable packaging, improving supply chain efficiency
• Successful deployment of the concept on a recent project, generating strong customer interest

Negative

• None.

Insights

Financial Analyst

ARRAY Technologies' introduction of reusable packaging is a strategic move with potential long-term financial benefits. While initial implementation costs may be higher, the 15-year lifespan of the packaging suggests significant cost savings over time. Reduced transportation needs and improved efficiency in material handling could lead to lower operational expenses. However, the immediate financial impact is likely to be minimal, as adoption and integration will take time. Investors should monitor customer adoption rates and any changes in ARRAY's profit margins in the coming quarters to gauge the success of this initiative. The move aligns with growing ESG trends, potentially enhancing ARRAY's appeal to sustainability-focused investors.

Supply Chain Expert

ARRAY's reusable packaging initiative represents a significant shift in supply chain management for the solar industry. The ability to transport more tracker components per bulk shipment could lead to substantial logistics cost reductions. This innovation addresses two critical aspects of supply chain optimization: waste reduction and efficiency improvement. The seamless movement between suppliers, customer sites and 3PL warehouses suggests a well-thought-out closed-loop system. If successful, this could become an industry standard, potentially giving ARRAY a competitive edge. However, the success hinges on effective implementation and customer adoption, which will require careful monitoring and potential adjustments in the early stages.

Environmental Sustainability Consultant

ARRAY's reusable packaging initiative is a commendable step towards sustainability in the solar industry. By replacing single-use cardboard with durable plastic casing, the company is addressing the often-overlooked packaging waste issue in renewable energy projects. The 15-year lifespan of the packaging significantly reduces the environmental footprint compared to traditional methods. Moreover, the reduction in transportation needs will contribute to lower carbon emissions throughout the supply chain. This aligns well with the growing emphasis on comprehensive sustainability practices beyond just the end product. However, it's important to consider the full lifecycle impact of the plastic casing, including its eventual disposal or recycling, to ensure a net positive environmental effect.

The Company launches reusable plastic packaging to enhance sustainability and reduce costs

ALBUQUERQUE, N.M., Sept. 10, 2024 (GLOBE NEWSWIRE) -- ARRAY Technologies (NASDAQ: ARRY) (“ARRAY” or the “Company”), a global leader in utility-scale solar tracking, today announced the launch of a groundbreaking reusable packaging solution designed to replace traditional cardboard boxes with durable, reusable plastic casing. This innovative packaging is set to significantly reduce waste and contribute to the sustainability goals of ARRAY’s customers.

The new reusable bulk packaging is designed to maximize efficiency, allowing for the transportation of more tracker components per bulk compared to traditional cardboard packaging. This improvement allows more material to be shipped in each pallet, reducing the total number of trucks required on-site and decreasing the overall labor associated with material handling, receiving, and transportation. With a lifespan of 15 years, the reusable packaging seamlessly moves between the finished goods supplier, customer sites, and third-party logistics (3PL) warehouses as needed, streamlining the entire supply chain and enhancing its eco-friendly impact.

“It is critical for the renewable energy sector to lead the way in promoting and implementing reusable options that reduce waste and create a healthier environment,” said Kevin G. Hostetler, chief executive officer at ARRAY. “ARRAY’s business model inherently revolves around making the world more sustainable, and part of being renewable means embracing reusable. We’re eager to begin working with our customers to introduce new packaging and help make the supply chain for solar products as environmentally friendly and cost-effective as the energy source itself.”

Reusable packaging is already proving its significant value on solar project sites. After deploying this concept on a recent project, ARRAY’s customers have shown strong interest in implementing it for future installations, recognizing the potential for cost savings and sustainability benefits. This initiative aligns with ARRAY’s ongoing commitment to reducing its environmental impact and promoting sustainable practices within the renewable energy sector.

ARRAY continues to set industry standards, not only through its innovative solar tracking solutions but also by ensuring that its operations and products are as sustainable as the energy they help generate. The company is actively looking to pilot this initiative with additional customers to further analyze the potential savings and environmental impacts, reinforcing our commitment to sustainability across the solar industry.

About ARRAY
ARRAY Technologies (NASDAQ: ARRY) is a leading global renewable energy company and provider of utility-scale solar tracking technology. Engineered to withstand the harshest conditions on the planet, ARRAY’s high-quality solar trackers and sophisticated software maximize energy production, accelerating the adoption of cost-effective and sustainable energy. Founded and headquartered in the United States, ARRAY relies on its diversified global supply chain and customer-centric approach to deliver, commission, and support solar energy developments around the world, lighting the way to a brighter, smarter future for clean energy. For more news and information on ARRAY, please visit arraytechinc.com.

Forward Looking Statements
This press release contains forward-looking statements. These statements are not historical facts but rather are based on the Company’s current expectations and projections regarding its business, operations and other factors relating thereto. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors. Forward-looking statements should be evaluated together with the risks and uncertainties that affect our business and operations, particularly those described in more detail in the Company’s most recent Annual Report on Form 10-K and other documents on file with the SEC, each of which can be found on our website www.arraytechinc.com. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

Media Contact 
ARRAY Technologies
Nicole Stewart 
505-589-8257 
nicole.stewart@arraytechinc.com 

Investor Relations Contact
ARRAY Technologies
Investor Relations 
investors@arraytechinc.com 

FAQ

What new product has ARRAY Technologies (ARRY) introduced in September 2024?

ARRAY Technologies has introduced a reusable packaging solution, replacing traditional cardboard boxes with durable, reusable plastic casing for their solar tracking components.

How long is the lifespan of ARRAY's new reusable packaging?

The new reusable packaging from ARRAY Technologies has a lifespan of 15 years.

What are the benefits of ARRAY's reusable packaging for solar projects?

Benefits include reduced waste, increased transportation efficiency, fewer trucks required on-site, decreased labor for handling and receiving, and potential cost savings for customers.

How is ARRAY Technologies (ARRY) planning to implement the new packaging solution?

ARRAY is actively seeking to pilot the reusable packaging initiative with additional customers to further analyze potential savings and environmental impacts.