PORTLAND, Tenn., March 07, 2024 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. (“Shoals” or the “Company”) (Nasdaq: SHLS), a leading provider of electrical balance of system (“EBOS”) solutions for solar, battery storage, and electric vehicle charging infrastructure, today announced the Board of Directors appointed the Company’s Chief Executive Officer, Brandon Moss, to the Board.

“Since joining Shoals as our Chief Executive Officer in 2023, Brandon has been instrumental in refining our company strategy, continuing to build our organizational capacity and implementing a more robust operating model to sustain our strong execution,” said Brad Forth, Chairman of the Board of Shoals. “On behalf of the Board of Directors, I would like to congratulate him on his well-deserved appointment to our Board. We look forward to his continued contributions as the leader of the Company.”

"I am honored to join the Board at this exciting time, where Shoals has grown revenue at approximately 50% over the last two years, gained significant market share, and deleveraged the balance sheet with our strong cash flow,” said Moss. “We have built an enviable market position and are excited about the growth opportunity for Shoals in U.S. and international utility scale solar markets."

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 62 GW of solar systems globally. For additional information, please visit: https://www.shoals.com/.

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Forward-Looking Statements

This press release contains forward looking statements, including potential contributions of our management and Board of Directors. These statements are not historical facts but rather are based on the Company’s current expectations. 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.