Shoals Technologies Group Achieves Certification For Above Ground eMobility Charging Solutions

Rhea-AI Summary

Shoals Technologies Group (Nasdaq: SHLS) has achieved certification for its eMobility charging solutions to UL standards, enhancing its position in the EV infrastructure market. The certified products include the Fuel Power Center and Big Lead Assembly, facilitating faster, lower-cost deployment of EV solutions. This milestone not only underscores Shoals' commitment to safety and performance but also expands its electrical balance of systems (EBOS) offerings from solar to electric vehicles. The company aims to support scalable EV charging infrastructure across various applications.

Positive

• Certification of eMobility charging solutions to UL standards enhances credibility.
• Faster and lower-cost deployment of EV solutions compared to traditional methods.
• The ability to be deployed on leased properties without stranded assets.

Negative

• None.

Achieving Certification to UL standards demonstrates Shoals successfully meets applicable industry requirements for safety and performance

PORTLAND, Tenn., Sept. 28, 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 completed certification of its first set of of above ground eMobility charging solutions to UL Standards.

The listed products include Shoals’ Fuel Power Center, Big Lead Assembly (BLA) for DC or AC power, raceways and quick connect bases for chargers. Through these products, Shoals has introduced EV solutions that can be deployed more rapidly and at a lower cost than traditional solutions. Additionally, an above ground solution provides a higher degree of portability, which is a major differentiator to customers that are operating on leased properties allowing them to change locations in the future while minimizing stranded assets.

This milestone showcases that the products have been tested to applicable industry standards for safety and performance, and are available to accelerate the deployment of EV infrastructure.

“Our EV solutions have been deployed across the country in fleet yards, school bus operations, and commercial applications. We are thrilled that our Phase 1 products have all completed this stage of certification testing, which can result in broader adoption of our technology to support the growth of EV charging infrastructure,” said Jeff Tolnar, Senior Vice President of EV Solutions at Shoals. “Achieving this important milestone will enable Shoals to support our customers as they deploy EV charging systems at scale.”

“The above-ground EV charging solution created by Shoals extends our industry-leading EBOS offerings from utility-scale solar into eMobility,” said Jason Whitaker, Chief Executive Officer of Shoals. “We have safely deployed more than 22 million feet of BLA in the solar industry and are now certified to leverage our EBOS expertise and technology for EV charging deployments. With this certification, the Authority Having Jurisdiction (AHJ) is able to certify the site deployment with comfort knowing that Shoals’ listed solutions can be installed to meet National Electric Codes and safely deliver energy from the power center to the chargers.”

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 

 

FAQ

What does the UL certification for Shoals Technologies' products mean for SHLS investors?

The UL certification indicates that Shoals' eMobility charging solutions meet industry safety and performance standards, potentially enhancing investor confidence.

When did Shoals Technologies announce its UL certification?

Shoals announced the UL certification on September 28, 2022.

What products did Shoals Technologies certify to UL standards?

Shoals certified its Fuel Power Center, Big Lead Assembly for DC or AC power, and other related charging solutions.

How does Shoals Technologies' UL certification impact its EV charging solutions?

The certification allows Shoals to deploy its EV charging systems more broadly and assures compliance with National Electric Codes.

What is Shoals Technologies' stock symbol?

The stock symbol for Shoals Technologies Group is SHLS.