PORTLAND, Tenn., Aug. 13, 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 the publication of its 2023 Environmental, Social, and Governance ("ESG") report. The ESG report highlights Shoals' notable progress and achievements in advancing environmental, social, and governance priorities in the 2023 fiscal year.

Highlights of the report include:

• First-time reporting on Shoals Scope 1 and 2 emissions, as well as reporting on our total energy usage.
• Creation of a cross-functional ESG team to identify and monitor ESG priorities and help ensure these are connected to the overall company strategy.
• Addition of key roles to solidify ESG integration across the organization, including a first-ever Director of Sustainability and Director of Quality.
• Integration and expansion of our environmental and health and safety programs
• Investment in robust data infrastructure, creating a centralized data hub to guide enhanced reporting efforts in future years.
  

"We are thrilled to present Shoals Technologies Group's third annual ESG report. With this year's report, we've made significant progress toward integrating ESG principles into everything we do. I'm excited about a future at Shoals where ESG is not just a commitment, but a core component of our identity and strategy," said Shoals CEO, Brandon Moss.

The report was developed under the direction of management and the Board and features ESG activities from teams across the company.

The full report is publicly accessible on Shoals' website at:

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:

Contacts:
Andrew Ross, Director of Sustainability
sustainability@shoals.com

Investors:
investors@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, expectations, projections and assumptions about the Company's ESG program, including priorities and intentions related thereto. 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; the effectiveness of the Company's ESG program, including investors' reception thereto, and other risks and uncertainties described in the Company's most recent Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission.

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.