Canadian Manufacturing

GBLT Corp. announces relaunching of its Solar Energy division

The global solar panels market exceeded USD $115 billion in 2019 and is expected to exceed $176 billion by 2027.

March 12, 2021  by CM Staff

TORONTO and DUEREN — On Mar. 12, GBLT Corp. announced that as a result of a strategic partnership and 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. 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.

“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.”

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