23:08:06 EST Fri 28 Jan 2022
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Symbol GBLT
Shares Issued 113,328,091
Close 2022-01-11 C$ 0.16
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GBLT acquires majority stake in Gebaude Technologie

2022-01-11 11:18 ET - News Release

Dr. Thilo Senst reports


GBLT Corp. has acquired a majority stake in Gebaude Technologie Center (GTC), an engineering company focused on the renewable energy and solar panel industry. Through the acquisition, GBLT anticipates additional revenue of approximately two million euros and over 275,000 euros in adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) in fiscal year 2022.

GTC has a dedicated team of top engineers and is known for premium and innovative planning and solutions. GTC offers private installations of solar panels for residential homes and is currently expanding into industrial and commercial projects, supported by an existing contract with one of the largest industrial companies in Germany.

Solar panel systems are already mandatory in many regions throughout Germany, in both commercial and private use cases. As government policy continues to shift toward a greener economy, the German government is mandating to increase solar energy solutions massively not just on a voluntary basis but with strong legal guidelines.

"We help our customers to realize sustainable and, at the same time, economical energy solutions," said Andre Trapp, managing director of Gebaude Technologie Center. "Photovoltaic (PV) systems play an important role in this today as they enable their operators to use self-generated electricity directly on site. In this way, economically attractive self-supply for the housing industry and industrial and commercial companies is linked to the topic of sustainability in a clearly visible way. For more and more industrial and commercial enterprises, a sustainable energy supply plays an important role in their ESG [environmental, social and governance] objectives. Generating their own electricity using PV systems sends a clearly visible signal for climate protection directly on site and helps to save CO2 [carbon dioxide] emissions."

"Solar-powered energy solutions continue to be a growing energy vertical and this acquisition further bolsters our position in this burgeoning market," said Dr. Thilo Senst, chief executive officer of GBLT. "This is a natural fit for our existing client base by delivering supplementary energy solutions to our existing mobile energy business that is scalable and growing in demand. Furthermore, government policies only solidify our belief that this rapidly growing market vertical can become a massive win for GBLT and drastically increase revenue turnover in the coming years as consumers continue to turn to solar-powered energy."

Jean Bullukian has resigned from the company's board of directors for personal reasons, effective Dec. 31, 2021.

Dr. Senst continued, "We would like to thank Jean for his time and service on our board of directors and wish him the best of luck in his future endeavours."

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 the Dr. Senst brand, which is owned and operated by GBT.

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