17.06.2024 12:00:07 - dpa-AFX: GNW-Adhoc: Shoals Technologies Group to Launch Global Suite of Solutions at Intersolar Europe
PORTLAND, Tenn., June 17, 2024 (GLOBE NEWSWIRE) -- Shoals Technologies Group,
Inc. (Nasdaq: SHLS), a global leader in electrical balance of system (EBOS)
solutions for the energy transition market, today announced its launch of a
comprehensive range of system-solutions focused on international developers and
engineering, procurement and construction (EPC) contractors.
The new product launch will take place at Intersolar Europe, June 19-21 and will
introduce the most comprehensive suite of solutions by Shoals to-date,
specifically designed with global customers in mind. The rollout will include
solutions that enable unobstructed rows, agri-solar, as well as North-South
configurations in addition to existing East-West configuration solutions.
"Our new suite of solutions is bringing exciting innovations in the utility
scale solar industry," explains Josep Tienda, Vice-President of International
Sales at Shoals. "These new plug-and-play solutions were developed leveraging
Shoals DNA and maintain the high standard we have set over the past two decades,
which our customers have come to expect."
In developing this new line of solutions, Shoals has listened to customers and
market feedback, and recognized that the world of utility scale solar is
evolving. The innovation team has delivered plug-and-play, industrialized
product solutions to meet the needs of today and the future. Shoals products are
prefabricated and negate the need for insulation piercing connectors that do not
meet developers' strict quality standards needed to withstand the time and
extreme weather experienced in large scale systems. In addition to globally
certified versions of existing products which Shoals offers in the US, the new
innovations include:
1. SuperJumper - a prefabricated home-run solution.
2. Trenched BLA - for applications where a messenger wire is an obstacle.
3. Mini BLA - for smaller installations or where topography dictates a
segmented configuration of trackers.
4. Smart Combiner - boxes that integrate seamlessly with SCADA systems.
These solutions are supported by Shoals Cable Management Solution, a
comprehensive package containing the essential components for solar project
wiring systems. The solution offers the easiest EBOS installation, operation,
and maintenance in the industry, setting a new standard.
In addition to the new system solutions, Shoals is also localizing some of its
solutions. The new ranges of combiner boxes will be built in Europe and in
Australia, ensuring that in addition to offering industry leading EBOS
solutions, the company can also meet delivery expectations for Europe,
Australia, and other expansion markets.
About Shoals Technologies Group, Inc.
Shoals Technologies Group, Inc. is a leading provider of electrical balance of
systems (EBOS) solutions for the energy transition market. 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 62 GW of solar systems globally. For additional
information, please visit: https://www.shoals.com/
Contacts
Investor Relations
Matt Tractenberg, VP of Finance and Investor Relations
Email: investors@shoals.com (mailto:investors@shoals.com)
Media Relations
Sara Jo Walker
Senior Director of Communications
(615) 500-4349
Sarajo.walker@shoals.com (mailto:Sarajo.walker@shoals.com)
Forward-looking Statements:
This press release contains certain forward-looking statements that are based on
the Company's management's beliefs and assumptions and on information currently
available to the Company's management. These forward-looking statements relate
to, among other things, the Company's new product offerings and the Company's
international expansion and growth efforts. Forward-looking statements include
statements that are not historical facts and can be identified by terms such as
"anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan,"
"potential," "predict," "project," "seek," "should," "will," "would" or similar
expressions and the negatives of those terms.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors that may cause the Company's actual results, performance, or
achievements to be materially different from any future results, performance or
achievements expressed or implied by the forward-looking statements. Some of the
key factors that could cause actual results to differ from the Company's
expectations include, among other things; our expansion outside the U.S. could
subject us to additional business, financial, regulatory and competitive risks;
a further increase in interest rates or a reduction in the availability of tax
incentives or project debt capital in the global financial markets could make it
difficult for end customers to finance the cost of a solar energy system and
could reduce the demand for the Company's products; defects or performance
problems in our products or their parts, including those related to the wire
insulation shrinkback matter, could result in loss of customers, reputational
damage and decreased revenue, and may have a material adverse effect on our
business, financial condition and results of operations; we may experience
delays, disruptions, quality control or reputational problems in our
manufacturing operations in part due to our vendor concentration; the market for
our products is competitive, and we may face increased competition as new and
existing competitors introduce EBOS system solutions and components, which could
negatively affect our results of operations and market share; developments in
alternative technologies may have a material adverse effect on demand for the
Company's offerings; and if demand for solar energy projects does not continue
to grow or grows at a slower rate than the Company anticipates, the Company may
not be able to achieve the Company's anticipated level of growth and the
Company's business will suffer.
These and other important risk factors are described more fully in the Company's
most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form
10-Q and other documents filed with the Securities and Exchange Commission and
could cause actual results to vary from expectations. Given these uncertainties,
you should not place undue reliance on forward-looking statements. Also,
forward-looking statements represent the Company's management's beliefs and
assumptions only as of the date of this report. You should read this report with
the understanding that the Company's actual future results may be materially
different from what the Company expects.
Except as required by law, the Company assumes no obligation to update these
forward-looking statements, or to update the reasons actual results could differ
materially from those anticipated in these forward-looking statements, even if
new information becomes available in the future.
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