Shoals Technologies Group Files Patent Infringement Complaint Against Voltage, LLC with U.S. International Trade Commission

Shoals Technologies filed a patent infringement complaint against Voltage, aiming to protect its BLA technology from unauthorized imports.

Quiver AI Summary

Shoals Technologies Group, Inc. announced that it has filed a new patent infringement complaint with the U.S. International Trade Commission against Voltage, LLC concerning two recently issued patents that protect its Big Lead Assembly (BLA) solutions for solar panel arrays. This follows a previous complaint filed in 2023 regarding another patent. The new patents aim to prevent Voltage from using alternative designs that could infringe on Shoals' intellectual property. CEO Brandon Moss emphasized the company’s commitment to protecting its innovations and supporting domestic manufacturing in the clean energy sector. Shoals is also awaiting a decision on an ongoing patent infringement case expected on January 15, 2025, which they are optimistic will be favorable.

Potential Positives

• Shoals filed a new patent infringement complaint with the U.S. International Trade Commission, further protecting its intellectual property regarding the Big Lead Assembly solutions.
• The issuance of the new patents (‘375 and ‘376) strengthens Shoals’ position against potential infringement, demonstrating the company's commitment to innovation and safeguarding its technologies.
• The company expressed optimism regarding a favorable outcome in its pending ‘153 Patent infringement complaint, which could bolster its market position and reinforce its intellectual property strategy.
• CEO Brandon Moss highlighted the commitment to American jobs and domestic manufacturing, aligning the company with national interests in the energy transition market.

Potential Negatives

• The company is involved in multiple patent infringement complaints, indicating potential ongoing legal battles that could lead to significant financial and operational costs.
• The outcome of the pending ‘153 Patent infringement complaint is uncertain, which could negatively impact the company's market position and confidence in its IP portfolio.
• The press release highlights a competitive market for EBOS solutions, suggesting that Shoals may face challenges in maintaining market share against new and existing competitors.

FAQ

What recent legal action has Shoals Technologies Group taken?

Shoals filed a patent infringement complaint with the U.S. International Trade Commission against Voltage, LLC regarding their Big Lead Assembly solutions.

What patents are involved in the Shoals complaint?

The complaint cites the newly issued ‘375 and ‘376 Patents, related to an improved trunk bus lead assembly for solar panel arrays.

Why is Shoals pursuing this patent infringement case?

Shoals aims to protect its intellectual property and prevent illegal importation of trunk bus lead assembly products by Voltage, LLC.

What is the expected outcome from the pending ‘153 Patent infringement complaint?

Shoals remains optimistic that the ITC will uphold the favorable initial determination regarding their previous ‘153 Patent complaint.

How does Shoals plan to support the energy transition market?

Shoals is committed to investing in American jobs and domestic manufacturing while protecting its intellectual property rights.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$SHLS Congressional Stock Trading

Members of Congress have traded $SHLS stock 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $SHLS stock by members of Congress over the last 6 months:

• REPRESENTATIVE JOSH GOTTHEIMER purchased up to $15,000 on 07/19.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$SHLS Insider Trading Activity

$SHLS insiders have traded $SHLS stock on the open market 7 times in the past 6 months. Of those trades, 2 have been purchases and 5 have been sales.

Here’s a breakdown of recent trading of $SHLS stock by insiders over the last 6 months:

• INEZ LUND (Chief Accounting Officer) has traded it 2 times. They made 0 purchases and 2 sales, selling 1,200 shares.
• JEFFERY TOLNAR (President) has traded it 2 times. They made 0 purchases and 2 sales, selling 3,420 shares.
• DOMINIC BARDOS (Chief Financial Officer) has traded it 2 times. They made 1 purchase, buying 15,000 shares and 1 sale, selling 4,300 shares.
• BRANDON MOSS (Chief Executive Officer) purchased 22,300 shares.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$SHLS Hedge Fund Activity

We have seen 113 institutional investors add shares of $SHLS stock to their portfolio, and 133 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

• JOHO CAPITAL LLC removed 9,642,545 shares (-100.0%) from their portfolio in Q3 2024
• POINT72 ASSET MANAGEMENT, L.P. added 5,622,207 shares (+460.1%) to their portfolio in Q3 2024
• T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 5,005,978 shares (-100.0%) from their portfolio in Q3 2024
• FIRST TRUST ADVISORS LP removed 4,832,668 shares (-89.1%) from their portfolio in Q3 2024
• BLACKROCK, INC. added 3,901,771 shares (+16.9%) to their portfolio in Q3 2024
• CITADEL ADVISORS LLC removed 3,418,226 shares (-96.0%) from their portfolio in Q3 2024
• MORGAN STANLEY removed 3,388,652 shares (-73.6%) from their portfolio in Q3 2024

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Full Release

PORTLAND, Tenn., Jan. 09, 2025 (GLOBE NEWSWIRE) -- Shoals Technologies Group, Inc. (“Shoals”) (Nasdaq: SHLS), a global leader in electrical balance of system (“EBOS”) solutions for the energy transition market, announced today that it has filed a new patent infringement complaint with the U.S. International Trade Commission (“ITC”) against Voltage, LLC and related foreign entity. This complaint cites two new patents (‘375 and ‘376 Patents) that cover Shoals' Big Lead Assembly (“BLA”) solutions.

After filing the pending ‘153 Patent infringement complaint in 2023, Shoals was issued the ‘375 and ‘376 Patents. These new patents relate to an improved trunk bus lead assembly for solar panel arrays and Shoals believes they provide protection against alternative designs that Voltage may create to bypass the original ‘153 Patent. The complaint aims to prevent the illegal importation of trunk bus lead assembly that infringes on Shoals' intellectual property, specifically the patented BLA solutions.

“We have always maintained the commitment to protecting our intellectual property and valuable product portfolio against infringement,” Brandon Moss, CEO of Shoals Technologies Group asserted. “We will continue to invest in American jobs, domestic manufacturing, and support the increasing energy demands. To do that we need to remain vigilant against foreign entities to help accelerate the reshoring of domestic clean energy manufacturing.”

In addition, Shoals remains optimistic that the final determination in the pending ‘153 Patent infringement complaint, expected from the ITC on January 15

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, will uphold the positive initial determination by the Commission.

About Shoals Technologies Group

Shoals Technologies Group is a leading provider of electrical balance of systems (“EBOS”) solutions for the energy transition market. 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 is a recognized leader in the renewable energy industry. For additional information, please visit:

https://www.shoals.com

.

Forward-looking Statements:

This press release contains certain forward-looking statements, that are based on the Company’s management’s beliefs and assumptions and on information currently available to the Company’s management.

These forward-looking statements relate to, among other things, the outcome and timing of the new patent infringement case filed with the ITC, as well the Company's existing patent infringement case filed with the ITC, the Company’s future growth, including growth of the Company’s IP portfolio, and possible effects on the Company’s business strategies and operations. Forward-looking statements include statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would” or similar expressions and the negatives of those terms.

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Some of the key factors that could cause actual results to differ from the Company’s expectations include, among other things; we are subject to risks associated with the patent infringement complaints that we filed with the U.S. International Trade Commission and two District Courts; if we fail to, or incur significant costs in order to, obtain, maintain, protect, defend or enforce our intellectual property and other proprietary rights, including those that are subject to the patent infringement complaints we filed with the ITC and two District Courts, our business and results of operations could be materially harmed; changes in the U.S. trade environment, including the imposition of trade restrictions, import tariffs, anti-dumping and countervailing duties could adversely affect the amount or timing of our revenue, results of operations or cash flows; and the market for our products is competitive, and we may face increased competition as new and existing competitors introduce EBOS system solutions and components, which could negatively affect our results of operations and market share.

These and other important risk factors are described more fully in the Company’s most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q and other documents filed with the Securities and Exchange Commission and could cause actual results to vary from expectations. Given these uncertainties, you should not place undue reliance on forward-looking statements. Also, forward-looking statements represent the Company’s management’s beliefs and assumptions only as of the date of this report. You should read this report with the understanding that the Company’s actual future results may be materially different from what the Company expects. Except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.