GBLT Relaunches Solar Energy Division and Announces Initial €200,000 Order
TORONTO and DUEREN, Germany, March 12, 2021 /CNW/ - GBLT Corp. (TSXV: GBLT) (OTCQB: GBLTF) (FSE: 4G9) ("GBLT" or the "Company") is pleased to announce that as a result of a strategic partnership and overwhelming customer demand, the Company will relaunch its Solar Energy division. GBLT, in partnership with German engineering firm Gebäude Technologie Center GmbH, will deliver solar panel hardware to one of Europe's largest chemicals & consumer goods companies that surpasses €25 billion in turnover annually. The initial order received is for €200,000 and is expected to grow to a total of €500,000 over the remaining parts of 2021.
The global solar panels market exceeded USD $115 billion 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% of their 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, CEO 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:
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.
Forward-Looking Information
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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
____________________________________________________________________ |
SOURCE GBLT Corp.
GBLT Corp., Dr. Thilo Senst, CEO, Tel.: +49(0)2421-20856-0, Email: [email protected]; Investor Relations: Virtus Advisory Group, Tel: 416-644-5081, Email: [email protected]
Share this article