Shoals Technologies Group Prevails in Patent Infringement Case Against Voltage in North Carolina

Rhea-AI Summary

Shoals Technologies Group (Nasdaq: SHLS) announced that a jury in the U.S. District Court for the Middle District of North Carolina found that Voltage, LLC and Ningbo Voltage Smart Production Co. willfully infringed Shoals’ patents and awarded Shoals over $96 million in damages. The Court indicated it will issue a preliminary injunction immediately barring manufacture, distribution, or sale of the Voltage LYNX product in the U.S., and the willfulness finding allows potential enhancement of damages at the Court’s discretion. Shoals also highlighted a June ITC determination, now final after the Presidential Review Period lapsed without intervention, which found Voltage’s LYNX product infringed Shoals’ patents and barred importation of the products.

Positive

• Jury award over $96 million in patent damages to Shoals
• Finding of willful infringement allows potential enhanced damages
• Preliminary injunction to halt Voltage LYNX sales in the U.S.
• ITC determination bars importation of infringing LYNX products
• Multiple rulings affirm strength of Shoals’ patent portfolio

Negative

• None.

Argus Aug 26 session 25 alerts

+6.10% close to close 1.7x rel. volume Open Argus

Details

News Market Reaction – SHLS

+7.4% Peak in 8 min

$1.25B Market Cap

On Aug 26, the day this news came out, SHLS closed 6.10% above the previous close. Argus tracked a peak move of +7.4% during that session. Our momentum scanner recorded 25 alerts for this stock that day. Relative volume reached 1.7x the daily average during tracking.

Data tracked by StockTitan Argus for the Aug 26 session.

Key Figures

Jury damages award: over $96 million

Jury damages award

over $96 million

North Carolina patent infringement case

Historical Context

5 past events · Latest: Aug 18

5 events

1. Aug 18

   Battery project partnership

   24h Move

   -6.7%

   Manufacturing and deliveries began for a 1.1 GW hyperscale data center battery project.

2. Aug 04

   Q2 earnings report

   24h Move

   -1.6%

   Revenue increased while gross margin and net income declined amid facility transition costs.

3. Aug 03

   Storage partnership

   24h Move

   +7.2%

   Shoals signed an MOU supporting TerraFlow's future energy storage deployment plans.

4. Jul 30

   Investor events announcement

   24h Move

   +12.1%

   The company announced participation in investor conferences and meetings from August through October.

5. Jul 08

   Earnings release scheduling

   24h Move

   -2.6%

   Shoals scheduled its second-quarter earnings release and conference call for August 4.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

patent infringement, preliminary injunction, international trade commission, presidential review period

4 terms

patent infringement regulatory

"announced a favorable outcome in its patent infringement lawsuit against Voltage"

Patent infringement occurs when someone makes, uses, sells or imports a product or process that is covered by another party’s patent without permission — like copying a chef’s secret recipe and selling the dish without consent. For investors it matters because alleged infringement can trigger costly lawsuits, damage awards, sales bans or forced licensing, any of which can reduce revenue, increase expenses and hurt a company’s stock value.

preliminary injunction regulatory

"the Court indicated that it will grant a preliminary injunction preventing the manufacture"

A preliminary injunction is a court order that temporarily stops a party from taking certain actions while a legal case is ongoing. It’s like a warning sign that prevents someone from moving forward with plans that could cause harm or unfair advantage until the court makes a final decision. For investors, it signals that there may be unresolved legal issues affecting the parties involved, which can impact a company's operations or value.

international trade commission regulatory

"Shoals’ June victory before the International Trade Commission (ITC)"

A government body that acts like a referee for cross-border commerce, reviewing complaints about unfair practices, banned imports, tariffs or patent violations and issuing rulings or penalties. Its decisions can quickly change which foreign products can be sold, add costs through duties or block imports entirely, so investors watch rulings for sudden impacts on a company’s sales, supply chains, profit margins and competitive position.

presidential review period regulatory

"The Presidential Review Period for the ITC determination has now lapsed"

A presidential review period is a fixed window of time during which the head of state or executive office reviews a proposed transaction or action for national security, regulatory, or public-interest concerns. For investors it matters because this review can delay closing, impose conditions, or block a deal entirely—similar to a final checkpoint that can change the value, timing, or certainty of an investment or corporate plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Another Win for U.S. Innovation, Domestic Manufacturing and Energy Infrastructure

PORTLAND, Tenn., Aug. 26, 2026 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. (“Shoals”) (Nasdaq: SHLS), a global leader in electrical infrastructure solutions for the energy transition market, today announced a favorable outcome in its patent infringement lawsuit against Voltage, LLC and Ningbo Voltage Smart Production Co. (collectively “Voltage”) in the U.S. District Court for the Middle District of North Carolina.

In a decisive win for Shoals during today’s ruling, the jury found that Voltage willfully infringed Shoals’ patents, awarded Shoals over $96 million in damages and soundly rejected Voltage’s arguments challenging the validity of Shoals’ patents. The judgment is subject to potential further increase at the Court’s discretion due to the jury’s finding of willfulness. Further, the Court indicated that it will grant a preliminary injunction preventing the manufacture, distribution or sale of the Voltage LYNX product in the United States with immediate effect.  

The North Carolina verdict follows multiple rulings that upheld Shoals' intellectual property, including Shoals’ June victory before the International Trade Commission (ITC), which found that Voltage’s LYNX product infringed Shoals’ patents covering aspects of its Big Lead Assembly (BLA) products and barred importation of Voltage’s infringing products. The Presidential Review Period for the ITC determination has now lapsed without intervention, bringing that matter to final resolution.

Together, the North Carolina verdict and ITC determination reinforce the strength of Shoals’ intellectual property portfolio and mark important victories for U.S.-developed technologies that support critical energy infrastructure, domestic manufacturing, and fair competition.

“Shoals’ patented BLA solution helped revolutionize the solar industry,” said Brandon Moss, CEO of Shoals. “These outcomes affirm the strength of our intellectual property and the importance of protecting the innovations behind our differentiated solutions. We are grateful to the Court and jury for their time, attention, and careful consideration. Shoals will continue to compete aggressively, invest in American manufacturing, and defend the technology that supports our long-term growth.”

Shoals has consistently maintained that intellectual property protections are essential to advancing U.S. innovation, encouraging domestic investment, and ensuring companies can compete on the strength of their technology.

That principle is especially important in Tennessee, where advanced manufacturers like Shoals are investing in engineering talent, skilled jobs, and technologies that strengthen the state’s economy.

"Tennessee's manufacturers and innovators rely on a strong intellectual property system to support investment, job creation, and economic growth,” said Josh Brown, President and CEO of the Tennessee Chamber of Commerce. “We applaud the protections afforded by the rule of law and the recognition of the importance of intellectual property rights. Companies like Shoals that invest in innovation, engineering, and advanced manufacturing help strengthen Tennessee's economy and America's competitiveness."

About Shoals Technologies Group

Shoals Technologies Group is a leading manufacturer of advanced electrical infrastructure solutions for mission critical applications across utility scale solar, battery storage, and data center power systems. Since its founding in 1996, the Company has designed innovative technologies and systems solutions that allow its customers to substantially increase installation efficiency and safety while improving system performance and reliability at scale. Shoals Technologies Group is a recognized leader in the energy transition industry. For additional information, please visit: https://www.shoals.com. 

Forward-Looking Statements:

This press release contains forward-looking statements. All statements other than statements of historical fact are “forward-looking statements” for purposes of federal and state securities laws. Words, and variations of words, such as “will,” “may,” “expect,” “would,” “could,” “might,” “intend,” “plan,” “believe,” “likely,” “estimate,” “anticipate,” “objective,” “predict,” “project,” “drive,” “seek,” “aim,” “target,” “potential,” “commitment,” “outlook,” “continue,” “goal” or any other similar words are intended to identify our forward-looking statements. Although we believe that the expectations and assumptions reflected in any of our forward-looking statements are reasonable, actual results or outcomes could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, many of which are beyond our control, which could cause our actual results to differ materially from those indicated in these forward-looking statements. We disclaim and do not undertake any obligation to update or revise any forward-looking statement in this presentation except as required by applicable law or regulation. For important information on forward-looking statements, please see our most recent earnings release for Q2 2026 on our investor website at https://investors.shoals.com.

Shoals Media Relations
Lindsey Williams, VP of Marketing and External Communications
Lindsey.williams@shoals.com

Shoals Investor Relations
Matt Tractenberg, VP of Finance and Investor Relations
investors@shoals.com

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What was the outcome of Shoals Technologies Group’s patent case against Voltage on August 26, 2026 (SHLS)?

Shoals secured a jury verdict finding Voltage willfully infringed its patents and was awarded over $96 million in damages. According to Shoals, the Court also indicated it will grant a preliminary injunction stopping U.S. manufacture, distribution, or sale of the Voltage LYNX product.

How much did the jury award Shoals Technologies Group (SHLS) in its lawsuit against Voltage?

The jury awarded Shoals Technologies Group over $96 million in damages for patent infringement. According to Shoals, the finding of willful infringement means the Court may further increase the damages, subject to its discretion and subsequent judgment processes.

What does the preliminary injunction against the Voltage LYNX product mean for Shoals Technologies Group (SHLS)?

The Court indicated it will grant a preliminary injunction immediately blocking manufacture, distribution, or sale of Voltage’s LYNX product in the U.S. According to Shoals, this order helps protect its patented Big Lead Assembly technology in the domestic market.

How does the ITC ruling relate to Shoals Technologies Group’s patent dispute with Voltage (SHLS)?

Shoals reported that the ITC previously found Voltage’s LYNX product infringed Shoals’ patents and barred its importation. According to Shoals, the Presidential Review Period expired without intervention, so that ITC determination is now final and complements the North Carolina jury verdict.

What does the patent verdict mean for Shoals Technologies Group’s intellectual property strategy (SHLS)?

The verdict and ITC ruling support Shoals’ approach of actively defending its patents for Big Lead Assembly products. According to Shoals, these outcomes reinforce the perceived strength of its intellectual property portfolio and its focus on protecting U.S.-developed energy infrastructure technologies.

Did the court find Voltage’s infringement of Shoals Technologies Group’s patents to be willful (SHLS)?

Yes, the jury found Voltage willfully infringed Shoals’ patents related to its Big Lead Assembly products. According to Shoals, this willfulness finding makes the judgment subject to potential enhancement, allowing the Court to consider increasing the total damages awarded.