POSCO will supply steel to the U.S. Array Technologies Inc. (ATI), the world’s No.2 photovoltaic power generation equipment manufacturing company.

The two companies signed a MOU agreement online Tuesday, and decided to cooperate in the supply and design of new materials such as “PosMAC, ” which is a special steel material that is resistant to corrosion, solar energy structures, related accessories, and development of technology.

ATI is a Nasdaq-listed photovoltaic power generation equipment and facilities manufacturing company located in New Mexico, the U.S. It is currently participating in solar power projects in various countries, including Australia, Europe, and the U.S.

As of 2020, ATI is a global leading power generation company with a market share of 17 percent.

POSCO is planning to work with Korean domestic small and medium-sized steel companies and POSCO International to process materials such as PosMAC into photovoltaic energy generation components, and then supply them to global photovoltaic power generation project involving ATI.