PORTLAND, Tenn., July 08, 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 execution of a contract with CJR Renewables to deliver its innovative Big Lead Assembly (BLA) for the 110 MW Alcones project in the Marchigüe, Región del Libertador Bernardo O´Higgins (VI), Chile.

CJR Renewables, a leading Engineering, Procurement, and Construction (EPC) firm, has installed 1.6 GW of solar across the globe. The 110 MW Alcones project will be the first built with BLA in Chile, enabling the acceleration of installation and enhancing long-term system reliability. Shoals' BLA system is designed to improve energy yield and reduce the levelized cost of energy. The BLA system simplifies installation, reduces the need for skilled labor, and enhances the long-term reliability of solar installations.

The partnership also supports Shoals' strategic expansion into attractive new markets, like South America. Shoals has built a strong track record of delivering high-quality, reliable EBOS solutions that exceed industry standards. “We are excited about the opportunity to partner with CJR Renewables to support the Alcones project,” said Juan Manuel Carbajosa García, Director of Sales at Shoals. “Our continued execution within our strategic global markets remains a priority. This project not only marks our expansion into the South American market but also showcases the effectiveness of our BLA system in addressing regional challenges.”

Once operational, the Alcones project will generate enough electricity to power over 86,000 households, while avoiding more than 62,000 tons of CO₂ emissions annually.

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 Alcones project and the expected benefits thereof; and the Company’s expansion into new market segments. 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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Matt Tractenberg, VP of Finance and Investor Relations
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