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
