09:53:41 EST Sat 27 Nov 2021
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Symbol GBLT
Shares Issued 113,047,839
Close 2021-03-12 C$ 0.29
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GBLT re-establishes solar energy division

2021-03-12 08:19 ET - News Release

Dr. Thilo Senst reports


As a result of a strategic partnership and overwhelming customer demand, GBLT Corp. will relaunch its solar energy division. GBLT, in partnership with German engineering firm Gebaude Technologie Centre GmbH, will deliver solar panel hardware to one of Europe's largest chemical and consumer good companies that surpasses 25 billion euros in turnover annually. The initial order received is for 200,000 euros and is expected to grow to a total of 500,000 euros over the remaining parts of 2021.

The global solar panel market exceeded $115-billion (U.S.) in 2019 and is expected to exceed $176-billion by 2027 (1). The German government has undertaken initiatives to implement solar power in the country and target having 50 per cent of its energy being derived from renewable sources by 2025 (2).

"Solar-panel-derived energy is the way of the future and GBLT is well positioned to be one of the leading suppliers of hardware for this technology in Germany. As an energy storage company, we pride ourselves at being at the forefront of change, and the environmentally friendly nature of solar energy make it an attractive alternative to other traditional energy sources," said Dr. Thilo Senst, chief executive officer of GBLT. "We explored this idea in 2018, however, we ultimately were too early to the market with our solutions. As solar energy is becoming more mainstream and consumers have grown acceptance towards the idea, we believe now is the time to revisit this initiative and invest in being able to deliver the necessary infrastructure required to enable solar energy."

Dr. Senst continued: "We will work closely with our engineering partners and invest to ensure that we are able to deliver top-tier products to the German market. Our first client alone, an extremely large European consumer goods company, highlights how big this market opportunity is and how fast it is growing. This is an exciting new opportunity for GBLT and we are enthusiastic about the prospects this market vertical can offer moving into the future."

About GBLT Corp.

GBLT, through its operating company, GBT GmbH, designs, manufactures and supplies mobile storage, battery and personal protection equipment to some of the largest retail chains across the globe. GBT is also an official licensee for Kodak mobile storage systems and Agfaphoto mobile energy products. The company's personal protection equipment is primarily sold throughout Europe under Dr. Senst brand, which is owned and operated by GBT GmbH.

(1) Solar PV Panels Market Size, Share & Trends Analysis Report By Technology (Thin Film, Crystalline Silicon), By Grid Type, By Application (Residential, Commercial), By Region, And Segment Forecasts, 2020 to 2027.

(2) Energy-Charts.

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