FTC Solar, Inc. (NasdaqGM:FTCI) entered into an agreement to acquire HX New Energy Technology Co. Ltd. for $19.1 million on March 15, 2022. Overall, it is estimated that the transaction can generate $4 million of EBITDA accretion in 2023, and $7 million in 2024.

The transaction is expected to close in the second quarter of 2022, subject to satisfaction of customary closing conditions and confirmatory due diligence.