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Symbol GBLT
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Close 2020-10-21 C$ 0.09
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GBLT signs flash media distribution deal in Europe

2020-10-21 09:41 ET - News Release

Dr. Thilo Senst reports


GBLT Corp. has signed an agreement with one of Europe's largest retail drugstore chains to act as an exclusive provider of private lavel flash media products. The company expects a minimum of 1.2 million euros of annual revenue from this agreement, with the potential for significant increase.

The all-flash array market is expected to grow to $17.8-billion (U.S.) by 2023 growing at a 24.5-per-cent compound annual growth rate (CAGR).

"Our long-standing relationships with manufacturers and our established supply chain processes make us a trusted partner for large distribution retailers such as this drugstore chain," said Dr. Thilo Senst, chief executive officer of GBLT. "While we have had a long relationship with this group, having delivered many products to their shelves, this is our first foray into offering private label flash media products for them, a testament to their faith in GBLT to be able to deliver any product they see demand for from consumers."

Dr. Senst continued: "We continue to see growing demand for flash media products from consumers, in line with our traditional business of selling battery and storage solutions. Private label products have become a staple in our business as retailers trust GBLT to deliver high-quality products at a reasonable price. We also see tremendous upside to increase inventory turnover should consumer demand exceed our expectations."

In addition, GBLT is pleased to announce that has expanded its product line of personal protection equipment (PPE) to include FFP2 face masks under the Dr. Senst brand. FFP2 is the European standard of PPE for high-risk candidates.

"The addition of FFP2 masks to our product line is significant as we are now able to serve a new market," continued Dr. Senst. "High-risk candidates, as well as individuals who are required to have higher than recommended contact with people, such as service staff, require medical-grade quality masks for their safety. We are now able to offer these products and we are already seeing significant expansion in our scope of prospective clients."

About GBLT Corp.

GBLT, indirectly through its operating company, GBT GmbH, is a diversified lighting and battery company and the official licensee for Polaroid light products (LED and all other lighting technology, including retail and projects), Polaroid energy storage systems (mobile and fixed systems) and AGFAPHOTO mobile energy products (such as batteries).

GBT is focused on capitalizing on the current global trends in the rapidly growing energy storage and lighting sectors through the branding, sale and distribution of electronic products, including some under private labels, for residential and commercial markets. Through its licensing and branding partnership with Polaroid for lighting and mobile energy storage products, GBT has an immediate focus on launching its line of energy storage products in Europe, North America and internationally. GBT is also pursuing various large global commercial lighting projects.

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