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Companies to collaborate on opportunities across solar, storage and EV solutions, as part of broader decarbonation-as-a-service-strategy
NEW YORK and PORTLAND, Tenn., Jan. 05, 2022 (GLOBE NEWSWIRE) -- Luminace, the North American decarbonization-as-a-service business of Brookfield Renewable and the largest fully integrated provider of distributed energy solutions to commercial, industrial and public sector customers in the U.S. and Shoals Technologies Group, Inc. (“Shoals”) (Nasdaq: SHLS), a leading provider of electrical balance of systems (“EBOS”) solutions for solar, storage, and electric vehicle (“EV”) charging infrastructure, today announced a strategic agreement to pursue distributed renewable energy generation and EV charging solutions across the U.S.
The companies will collaborate on the deployment of renewable energy and EV projects, providing all development, operational and technical solutions at no upfront cost to the customer. Leveraging Luminace’s leading distributed generation platform and Shoals’ leading position in EBOS solutions for solar and EV technology, this collaboration will drive the broader expansion and adoption of renewables and EV charging solutions into the market.
"We are excited to collaborate with Luminace and join forces to bring our customers an unprecedented level of efficiency in the implementation of solar and eMobility projects," said Jason Whitaker, Chief Executive Officer of Shoals. "Together we will leverage our innovative technology and Luminace’s operational expertise to accelerate the adoption of renewables and EV charging infrastructure across the U.S."
“This collaboration combines the best of Luminace’s high-quality distributed generation platform and Shoals’ leading-edge eMobility solutions to provide comprehensive EV charging, solar, storage and energy efficiency solutions,” said Valerie Hannah, CEO of Luminace. “With the addition of EV charging infrastructure solutions to our toolkit, we are pleased to further advance Luminace’s mission of partnering with customers to provide them with cost-effective, reliable and renewable onsite decarbonization solutions.”
"I’m as convinced now as much as ever that a broad ecosystem is required to meet the transformation of the transportation market,” said Jeff Tolnar, Senior Vice President of eMobility at Shoals. “This relationship has the depth and breadth to move the needle in advancing the eMobility market and accelerating its growth.”
Luminace is a leading fully integrated decarbonization-as-a-service provider in North America, sponsoring accessible, reliable, and renewable energy infrastructure to empower the zero-emissions future. Luminace has an operational and development portfolio of more than 4,000 megawatts of distributed energy resources, serving hundreds of customers in the educational, commercial, industrial, utility, and municipal sectors across the U.S. and Canada. Luminace offers a full suite of decarbonization solutions including solar, energy storage and energy efficiency upgrades and retrofits as well as grid-resiliency options, all at no upfront cost.
Luminace is a Brookfield Renewable company. Brookfield Renewable operates one of the world’s largest publicly traded, pure-play renewable power platforms.
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 20 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.
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