PORTLAND, Tenn., Aug. 18, 2025 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. (Shoals) (Nasdaq: SHLS), a global leader in electrical balance of system (EBOS) solutions for the energy transition market, announced the official groundbreaking of the Maryvale Solar and Energy Storage Project in partnership with PCL Construction (PCL) and clean energy solutions provider, Gentari.

Australia has set ambitious targets to generate 82% of its electricity from renewable sources by 2030, with solar and storage playing a pivotal role. Located near Wellington in central western New South Wales, the Maryvale project is one of Australia’s largest DC-coupled solar and battery energy storage systems. PCL will leverage Shoals’ industry-leading string harnesses, SuperJumpers, and Super Combiners on the project to deliver approximately 243 MW of solar generation capacity, paired with 172 MW of battery storage. As one of the first of its kind in the region, Maryvale enables long-duration clean energy delivery and strengthens grid reliability.

“We are thrilled to shape the future of energy with partners who share our values and vision,” Gopi Govindraj, PCL Country Manager, Australia, stated. “Our collaboration with Shoals is driving a milestone achievement in renewable energy infrastructure. Together, we are delivering eastern Australia's first utility scale DC-coupled solar and battery hybrid system, blending technical innovation with a shared drive to accelerate the clean energy transition. Partnerships like this are how we create meaningful change, building smarter infrastructure and brighter futures for the communities we serve.”

Gentari serves as the project owner and visionary force behind the Maryvale Solar and Energy Storage Project. As a leading clean energy solutions provider in the Asia-Pacific region, Gentari is committed to accelerating the global transition to net-zero emissions.

“We are proud to partner with PCL Construction and Gentari on this landmark project,” said Jeff Tolnar, President at Shoals. “The Maryvale project marks a significant milestone in Australia’s clean energy journey, showcasing the power of solar and storage integration at scale. By combining Shoals’ advanced electrical balance-of-system solutions with the expertise of our partners, we’re helping to accelerate the deployment of solar and storage projects in the region.”

PCL has commenced construction of the project, with commercial operations expected to begin in early 2027. Once operational, the Maryvale project will contribute to Australia’s renewable energy targets and provide reliable, dispatchable power to the National Electricity Market.

About Shoals Technologies Group, Inc.

Shoals Technologies Group 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 is a recognized leader in the renewable energy industry. For additional information, please visit: https://www.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 execution of its contract related to the Maryvale project and the expected benefits thereofs. 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; we have modified, and in the future may modify, our business strategy to abandon lines of business or implement new lines of business; modifying our business strategy could have an adverse effect on our business and financial results; the imposition of trade restrictions, import tariffs, anti-dumping and countervailing duties could adversely affect the amount or timing of our revenue, results of operations or cash flows; and amounts included in our backlog and awarded orders may not result in actual revenue or translate into profits.

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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