Mobile storage and battery maker GBLT Corp has forayed into the renewables industry with the majority acquisition of German solar EPC company Gebäude Technologie Center (GTC) calling it a natural fit for the company's existing business.
GTC installs solar systems for residential solar segment, and is now expanding itself into the industrial and commercial domain as well foreseeing growing opportunities in the space as the new German government moves to make solar mandatory for all new commercial and private buildings (see Germany Pushing Renewables For Climate Targets).
On the other hand, GBLT operates through GBT GmbH manufacturing and supplying mobile storage, battery and personal protection equipment to some of the largest retail chains across the globe, it said.
Calling solar-powered energy solutions complements its existing client base, according to GBLT Corp CEO Dr. Thilo Senst. "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," he said.
GBLT expects to report additional revenue of around €2 million and more than €275,000 in adjusted EBITDA in fiscal year 2022 through this acquisition.