Shoals Technologies to Deploy Fuel by Shoals® eMobility Solution for Department of the Air Force

Rhea-AI Summary

Shoals Technologies Group, Inc. will deploy its Fuel by Shoals® eMobility solution for the U.S. Department of the Air Force to support an EV Charging-as-a-Service (EVCaaS) pilot project. The solution aims to provide secure and cost-effective above-ground EV charging infrastructure for the Air Force's fleet of non-tactical vehicles, helping them transition to zero-emissions vehicles in line with their Climate Action Plan.

Positive

• Shoals Technologies Group will deploy its Fuel by Shoals® eMobility solution for the U.S. Department of the Air Force's EV Charging-as-a-Service pilot project. This will support the Air Force's fleet of non-tactical vehicles to transition to zero-emissions vehicles, aligning with their Climate Action Plan to achieve 100 percent carbon-free electricity by 2030 and net-zero emissions at Air Force facilities by 2046.

Negative

• None.

Deployment supports Air Force’s Climate Action Plan to achieve 100 percent carbon-free electricity by 2030 and net-zero emissions at Air Force facilities by 2046

PORTLAND, Tenn., Oct. 25, 2023 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. (“Shoals” or the “Company”) (Nasdaq: SHLS), a leading provider of electrical balance of systems (“EBOS”) solutions for solar, storage, and electric vehicle (EV) charging infrastructure, today announced that the Company will deploy its Fuel by Shoals^® eMobility solution for the U.S. Department of the Air Force.

The Fuel by Shoals deployment supports an EV Charging-as-a-Service (EVCaaS) pilot project to be provided by Leidos (NYSE: LDOS), a FORTUNE^® 500 science and technology leader, to the Department of the Air Force. Leidos will design and implement a modern, resilient, scalable and secure power infrastructure solution to provide the necessary resources for the Air Force’s fleet of non-tactical vehicles to be charged and ready for use at multiple installations across the continental United States.

Fuel by Shoals, an innovative above-ground EV charging infrastructure solution, was selected by Leidos to minimize construction costs and schedule delays through secure and hardened above-ground raceways and power stations. The Fuel by Shoals solution meets the unique efficiency and resiliency needs of each installation location. It also leverages analytics and engineering to mitigate the impact on local installation grids.

Leidos will integrate ChargePoint EV chargers with the Fuel by Shoals solution to enable the Air Force to transition its fleet of more than 49,000 non-tactical vehicles to zero-emissions using EVCaaS. Transitioning the Air Force’s fleet to Zero Emissions Vehicles is a key component of its Climate Action Plan, which aims to achieve 100 percent carbon-free electricity on a net annual basis by fiscal 2030 and net-zero emissions at Air Force facilities by fiscal 2046.

“As a ‘Made in Tennessee’ company, we are incredibly proud to work with Leidos on this first-of-its-kind deployment for U.S. Air Force,” said Jeff Tolnar, President of Shoals. “Fuel by Shoals is the ideal solution to cost-effectively support the Air Force’s Climate Action Plan and we are excited to play a role in helping the Air Force achieve their net-zero goals.”

“This innovation pilot seeks to deploy cutting-edge private sector technologies to achieve the Air Force’s electrification goals," said Paul Grimes, Leidos’ Vice President for Energy Infrastructure. “We’re excited to work with Shoals and incorporate their eMobility solution to ensure quality and cost-efficiency for this contract.”

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/.

Forward Looking Statements

This press release contains forward looking statements, including statements regarding the initial public offering. These statements are not historical facts but rather are based on the Company’s current expectations and projections regarding its business, operations and other factors relating thereto. 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.

Contact:
Shoals@icrinc.com

FAQ

What is Shoals Technologies Group deploying for the U.S. Department of the Air Force?

Shoals Technologies Group is deploying its Fuel by Shoals® eMobility solution for the U.S. Department of the Air Force's EV Charging-as-a-Service pilot project.

What is the goal of the Air Force's Climate Action Plan?

The goal of the Air Force's Climate Action Plan is to achieve 100 percent carbon-free electricity by 2030 and net-zero emissions at Air Force facilities by 2046.

What is the purpose of the Fuel by Shoals solution?

The purpose of the Fuel by Shoals solution is to provide secure and cost-effective above-ground EV charging infrastructure for the Air Force's fleet of non-tactical vehicles, helping them transition to zero-emissions vehicles.