Tennessee Gov. Bill Lee, Department of Economic and Community
Development Commissioner Stuart C. McWhorter and Shoals
Technologies Group officials announced today the company will
invest $80 million over the next five years to expand its existing
manufacturing and distribution operations to a new, larger location
in Portland, Tennessee.
Shoals will create approximately 550 new jobs over the next five
years in Sumner County, bringing the company’s total headcount in
the region to roughly 1,400.
As part of the expansion, Shoals will relocate its manufacturing
operations to a 638,000-square-foot plant at 1500 Shoals Way. The
additional staff and larger facility will enable Shoals to better
meet its growing customer demand for solar power.
Headquartered in Portland, Tennessee, Shoals Technologies Group
is a leading electrical balance of systems (EBOS) provider for
solar, energy storage and eMobility. The company serves its
customers worldwide from several locations in the U.S.
For those interested in a career at Shoals, please contact
Recruiting@shoals.com or visit Careers at Shoals Technologies Group
| Global EBoS Products.
Since 2020, TNECD has supported nearly 10 economic development
projects in Sumner County, resulting in approximately 1,000 job
commitments and $1 billion in capital investment.
QUOTES“Tennessee’s strong business climate and
unmatched quality of life are key reasons why companies like Shoals
choose to expand in our state. I thank Shoals for creating hundreds
of new jobs for Tennesseans and am confident Portland and Sumner
County have the skilled workforce to support these new positions.”
– Gov. Bill Lee
“Shoals is an innovative brand that we are proud to have
headquartered in Tennessee. Companies always have a choice in where
they choose to invest and do business, and we appreciate Shoals’
continued support in our state, specifically the Portland and
Sumner County communities.” – TNECD Commissioner Stuart C.
McWhorter
“Today’s announcement marks a pivotal moment for Shoals’ growth,
allowing us to enhance efficiency, create jobs and contribute even
more to the thriving economic landscape of Tennessee. I am
immensely proud of our dedicated team for their commitment and
success and am grateful to the State of Tennessee for their
partnership in making this transformative move a reality."
– Brandon Moss, CEO, Shoals Technologies Group
“Portland is excited to once again be a destination for
investment and industry. Shoals has already been a vital community
partner, and now, with $80 million of new capital and hundreds of
jobs, they will be a top employer in the region as well.” –
Portland Mayor Mike Callis
“Sumner County is excited to hear about Shoals’ continued
investment in our community. The additional job opportunities and
capital investment is indicative of their confidence in Sumner
County. As the mayor of Sumner County, I want to personally thank
Shoals and wish them success.” – Sumner County Mayor John
C. Isbell
“TVA and Cumberland Electric Membership Cooperation congratulate
Shoals on its decision to expand operations and create hundreds of
new job opportunities in Portland. We are proud to partner with the
City of Portland and the Tennessee Department of Economic and
Community Development to support companies committed to continued
growth in the region and we celebrate this announcement together.”
– John Bradley, TVA senior vice president of economic
development
“The expansion of Shoals is great news for Sumner County.
The creation of approximately 550 new jobs and the substantial
investment of $80 million demonstrates the company's commitment to
our community and economy. Congratulations to Shoals on
their success in Sumner County, and I look forward to the positive
impact this expansion will have on our local workforce and
economy.” – Sen. Ferrell Haile (R-Gallatin)
“I’m tremendously proud when companies who know us best choose
to grow their business in our community. Tennessee has become
a major player in the clean energy sector, and Shoals is helping to
lead the way to a greener, more sustainable future. I thank Shoals
for their continued investment in Portland, and I congratulate
their employees on their remarkable success.” – House
Majority Leader William Lamberth (R-Portland)
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.
About the Tennessee Department of Economic and Community
DevelopmentThe Tennessee Department of Economic and
Community Development’s mission is to develop strategies that help
make Tennessee the No. 1 location in the Southeast for high quality
jobs. To grow and strengthen Tennessee, the department seeks to
attract new corporate investment to the state and works with
Tennessee companies to facilitate expansion and economic growth.
Find us on the web: tnecd.com. Follow us on Twitter, Instagram and
LinkedIn. Like us on Facebook. Subscribe to our YouTube
channel.
Forward Looking StatementsThis press release
contains forward-looking statements, including statements regarding
the Company’s future growth and expansion plans. 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 Annual Report on Form
10-K. You are cautioned not to place undue reliance on
forward-looking statements, which reflect expectations only as of
this date. The Company does not undertake any obligation to
publicly update or review any forward-looking statement, whether as
a result of new information, future developments, or otherwise.
Media ContactsShoals Sara Jo
WalkerSenior Director of Communications(615)
500-4349Sarajo.walker@shoals.com
TNECDLindsey TiptonPublic Information
Officer(615) 339-6608Lindsey.Tipton@tn.gov
Photos accompanying this announcement are available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/485df35a-21ef-4700-8422-49f5e06afcf5https://www.globenewswire.com/NewsRoom/AttachmentNg/6fa4a88b-1973-4dec-b9f1-7515a3cbd907
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