Shoals Technologies Group Opens New Manufacturing Facility to Support Significant Growth Opportunities
11 March 2022 - 8:15AM
Shoals Technologies Group, Inc. (“Shoals” or “the Company”)
(Nasdaq: SHLS), a leading provider of electrical balance of systems
(EBOS) solutions for solar, storage, and electric vehicle (EV)
charging infrastructure, today announced that it has opened a new
manufacturing facility in Portland, TN, positioning the company to
capitalize on the significant growth opportunities ahead.
The new 219,000 square foot facility, which is
expected to be operational in Q2 2022, further optimizes Shoals’
manufacturing processes to achieve higher operational efficiency,
and provides Shoals with the ability to double its EBOS
manufacturing capacity. In addition to the expanded and enhanced
manufacturing output, the new manufacturing space will bolster
Shoals' ability to introduce innovations to the market by
capitalizing on new product opportunities in the solar, energy
storage, and electric vehicle charging sectors.
“Our new facility will allow us to optimize our
manufacturing lines to increase operational efficiency, expand
production capacity and bring new innovations to market to deliver
even more value to our customers,” said Jason Whitaker, CEO of
Shoals Technologies Group. “Furthermore, the new facility gives us
a significant footprint for the growth of new product lines,
especially our Fuel by Shoals® eMobility solutions for electric
vehicle charging, which deliver a more simple, reliable, and
scalable way to deploy EV charging systems.”
About Shoals Technologies Group,
Inc.
Shoals Technologies Group, Inc. is a leading
provider of electrical balance of systems (EBOS) solutions for
solar, storage, and electric vehicle charging infrastructure. Since
its founding in 1996, the Company has introduced innovative
technologies and systems solutions that allow its customers to
substantially increase installation efficiency and safety while
improving system performance and reliability. Shoals Technologies
Group, Inc. is a recognized leader in the renewable energy industry
whose solutions are deployed on over 20 GW of solar systems
globally. For additional information, please visit:
https://www.shoals.com/.
Forward Looking Statements
This press release contains forward looking
statements, including statements regarding the initial public
offering. 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, including those in the Company’s
registration statement filed with the Securities and Exchange
Commission.
Contacts:
Investors:Email: investors@shoals.com Phone:
615-323-9836
Media: Email: media@shoals.com
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