04:57 AM EDT, 09/11/2024 (MT Newswires) -- (Updates with the latest stock move in the last paragraph.)

FTC Solar ( FTCI ) said late Tuesday it got an initial three-year deal from Strata Clean Energy to supply about 500 megawatts of its Voyager 2P solar tracker technology for multiple projects in the US.

The first project under the deal is anticipated to start in Q4.

The company, which didn't disclose the value of the contract, also expects the deal to expand to more than a gigawatt in volume.

Shares of FTC Solar ( FTCI ) surged more than 79% in premarket activity Wednesday.

Price: 0.4039, Change: +0.18, Percent Change: +79.43