Shoals Technologies Group Opens New Manufacturing Facility to Support Significant Growth Opportunities

PORTLAND, Tenn., March 10, 2022 (GLOBE NEWSWIRE) — 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.

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(GlobeNewsWire)