PORTLAND, Tenn., Feb. 24, 2026 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. ("Shoals") (NASDAQ:SHLS), a global leader in electrical infrastructure solutions for the energy transition market, and ON.energy, a developer of custom grid-safe power architecture, today announced an agreement to deploy multiple gigawatts of critical power systems into the AI data center market.

SHLS-On.energy PR

AI and cloud workloads are accelerating data center growth and raising the bar for power reliability, build speed, and operational continuity. This agreement brings together two U.S. innovators with complementary strengths in power architecture and execution.

"AI data centers don't just need more power. They need a power architecture that's predictable under stress, fast to deploy, and designed to interact with the grid," said Alan Cooper, CEO of ON.energy. "By pairing our medium-voltage AI UPS™ platform with Shoals' DC Recombiner, we're delivering a simpler, more scalable path to resilient backup power, one that protects uptime and helps data centers become grid assets as they grow."

"As artificial intelligence and cloud computing drive unprecedented growth in energy demand, data centers are under pressure to secure long-term, reliable power, rapidly and at scale," Brandon Moss, CEO of Shoals, stated. "At Shoals, we are well-positioned to support that growth and are scaling our production capacity as we expand into our ~638,000 square foot manufacturing campus in Portland, TN. This agreement with ON.energy reflects a commitment to deliver solutions that combine manufacturing excellence with simple, innovative execution."

With a proven track record in developing advanced power systems for mission-critical environments, ON.energy brings the technological foundation and engineering leadership that anchor the agreement. The company's medium-voltage UPS architecture and utility-scale storage expertise form the core of a solution built to safeguard uptime, accelerate deployment, and future-proof data center energy infrastructure. Their deep experience designing resilient, high-performance systems ensures that customers benefit from reliable, scalable, and intelligently engineered power infrastructure.

To amplify these capabilities, Shoals complements ON.energy's technology with decades of engineering expertise in electrical systems, applying advanced simulations and rigorous modeling to reduce technical and financial risk. By integrating Shoals' prefabricated, durability-focused designs with ON.energy's cutting-edge UPS and storage technologies, the companies deliver a differentiated solution that meets today's urgent infrastructure demands while enabling long-term growth across AI, cloud computing, and digital infrastructure.

About Shoals Technologies Group, Inc.

Shoals Technologies Group is a leading manufacturer of advanced electrical infrastructure solutions for mission-critical applications 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 earnings release for Q3 2025 on our investor website at https://investors.shoals.com.

For media inquiries, please contact:

Public Relations

Lindsey Williams, VP of Marketing and External Communications

Lindsey.williams@shoals.com

Investor Relations

Matt Tractenberg, VP of Finance and Investor Relations

investors@shoals.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/589c69c9-0fc8-4da6-a60f-dc31ed52b96b

Shoals Technologies Group and ON.energy to Deploy Critical-Power Systems for Leading AI Data-Center Operator