- GBLT Expands into Solar Panel Industry to Bolster its Existing Energy Storage Business -
TORONTO and DUEREN, Germany, Jan. 11, 2022 /CNW/ - GBLT Corp. (TSXV: GBLT) (OTCQB: GBLTF) (FSE: 4G9) ("GBLT" or the "Company") is pleased to announce that it has acquired a majority stake in Gebäude Technologie Center ("GTC"), an engineering company focused on the renewable energy and solar panel industry. Through the acquisition, GBLT anticipates additional revenue of approximately €2m and over €275,000 in Adjusted EBITDA in fiscal year 2022.
GTC has a dedicated team of top engineers and is well 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 towards 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 André Trapp, Managing Director of Gebäude 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 objectives. Generating their own electricity using PV systems sends a clearly visible signal for climate protection directly on site and helps to save CO2 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, CEO of GBLT Corp. "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."
In addition, GBLT announces the resignation of Jean Bullukian from the Company's Board of Directors for personal reasons, effective December 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 endeavors."
GBLT Corp., 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.
For more information, please visit www.gbt-international.com and www.gbltcorp.com.
Certain statements in this news release, which are not historical in nature, constitute "forward looking statements" within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning the Company's proposed activities under the Agreement, the Company's ability to achieve sales, commercial or otherwise, from its products, and the expectations of the Company regarding funding payments due pursuant to the Agreement. These statements reflect management's current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Except as required pursuant to applicable securities laws, the Company will not update these forward-looking statements to reflect events or circumstances after the date hereof. More detailed information about potential factors that could affect financial results is included in the documents filed from time to time with the Canadian securities regulatory authorities by the Company. Readers are cautioned not to place undue reliance on forward looking statements.
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SOURCE GBLT Corp.
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