2023-04-27 10:18:31 ET
Shoals Technologies ( NASDAQ: SHLS ) +5% in Thursday's trading after announcing a partnership Thursday with Brookfield Renewable Partners ( NYSE: BEP ) to introduce a Charging-as-a-Service solution for electric vehicle charging infrastructure.
The companies said the new product offering eliminates large up-front payments and enables streamlined deployment of charging networks for fleets, retail, multi-unit dwellings, and other large commercial properties.
Building on previous collaborations between the two companies, the new partnership will combine Brookfield's ( BEP ) global scale as one of the largest fully integrated providers of distributed energy and renewable power solutions with Shoals' ( SHLS ) Fuel by Shoals product offering which reduces installation time and labor requirements while offering charger flexibility.
Shoals' ( SHLS ) stock price also may be enjoying a boost from strong guidance issued by Sunnova Energy .
More on Shoals Technologies:
- See financial and valuation comparisons to sector peers
- SA analysis: Shoals Technologies Ramps Up International Expansion Efforts
- Stock price return: 10.5% loss YTD, 118% gain in the past 12 months
For further details see:
Shoals, Brookfield Renewables team up for new EV charging service