TORONTO and DUREN, Germany, Jan. 31,
2023 /CNW/ - GBLT Corp. (TSXV: GBLT)
("GBLT" or the "Company") is pleased to announce that
its 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 has increased by 47% in 2022 compared
to 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, CEO 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."
*Source:
https://www.euronews.com/green/2022/12/20/eu-solar-power-soars-by-almost-50-in-2022-which-country-installed-the-most
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**Source:
https://cleantechnica.com/2022/12/28/eu-market-outlook-says-solar-production-is-soaring/
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About GBLT:
GBLT Corp., 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 healthcare
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 healthcare and wellbeing
products are primarily sold throughout Europe under Dr. Senst brand.
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.