Dr. Thilo Senst reports
GBLT ANNOUNCES VERTICAL EXPANSION OF ITS SOLAR BUSINESS BY INTRODUCING ITS OWN BRAND OF SOLAR PANELS, EXTRAVOLT(TM)
GBLT Corp.'s solar energy business has established its own supply of solar panels under the Extravolt brand. GBLT will be distributing its solar panels alongside its GBT Solar Green Energy business, where the company currently delivers solar panel engineering, design, installation and maintenance services to residential and commercial properties across Germany.
The demand for solar energy panels in Europe increased by 47 per cent in 2022 compared with 2021 with Germany leading the European countries in panels installed as the high energy prices made renewable energy a cost-effective solution.
"We are experiencing undeniably high demand for our solar energy solutions in Germany, and given the macro environment challenges affecting global supply chain, we are pleased to have our own stable supply of solar panels," said Dr. Thilo Senst, chief executive officer of GBLT. "Compared to our competitors, the Extravolt solar panels offer a higher-electricity output with less footprint, making it more adaptable for various roof shapes and sizes. These solar panels will be an additional revenue stream in our solar business, vertically integrating with the GBT Solar Green Energy brand. Additionally, we aim to further scale our solar panel business through supplying our Extravolt solar panels to other renewable energy companies that provide installation and engineering services. With double-digit annual growth expected in the foreseeable future, we look forward to meeting energy needs in Germany and in Europe while maximizing GBLT's product scalability and further diversifying our revenue streams."
About GBLT Corp.
GBLT, through its operating company, GBT GmbH, designs, manufactures and supplies mobile storage and battery solutions. GBLT is also a leading provider of renewable energy solutions via its solar division, participating in the rapidly growing solar energy market. In addition, the company offers consumer health care and wellness products to some of the largest retail chains across the globe. GBT is also an official licensee for Agfaphoto mobile energy products. The company's branded health care and well-being products are primarily sold throughout Europe under the Dr. Senst brand.
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