GBLT buys majority in German solar installer Gebäude Technologie

Rooftop solar panels in Germany. Author: Tim Fuller. License: Creative Commons. Attribution 2.0 Generic

January 11 (Renewables Now) - GBLT Corp (CVE:GBLT), a supplier of mobile storage, battery and personal protection equipment, announced today it has taken control of German renewable energy engineering firm Gebaeude Technologie Center (GTC).

GTC offers private solar panel installations for residential homes and is now expanding into industrial and commercial projects in Germany, where solar arrays are already mandatory in many regions, the announcement notes.

"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,” said Thilo Senst, CEO of GBLT.

The buyer expects this transaction to bring in additional revenue of about EUR 2 million (USD 2.3m) and more than EUR 275,000 in adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) in fiscal year 2022.

(EUR 1.0 = USD 1.136)

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