FTC Solar Sells Stake in Dimension Energy for $22 Million
AUSTIN, Texas, June 28, 2021 (GLOBE NEWSWIRE) -- FTC Solar, Inc. (NASDAQ:FTCI), a fast-growing global provider of solar tracker systems, software and engineering services, today announced that it has received a net payout of approximately $22 million in connection with the sale of its minority investment position in Dimension Energy, LLC ("Dimension"), with the potential to receive an additional payout of up to approximately $14 million through an earn-out structure. FTC Solar made an investment of $4 million in Dimension, a community solar developer based in Atlanta, in 2018. Since the time of that investment, and prior to the sale, FTC Solar has received dividends of approximately $2.1
