Sunlight Group keeps investing in a Sustainable Future with the full Acquisition of Ubatt GmbH
Athens, Greece, 7 February 2024 – Sunlight Group, a member of Olympia Group and a technology company specializing in innovative industrial electrification solutions for the intralogistics sector and energy storage systems from renewable energy sources, announces the signing of a binding agreement for the acquisition of the remaining 50% stake in its German subsidiary Ubatt GmbH. This strategic move reflects Sunlight's unwavering commitment to advancing the renewable energy landscape based on sustainably sourced materials.
By acquiring the remaining stake in Ubatt GmbH, Sunlight enhances its foothold in the German renewable energy market, fostering innovation and accelerating the transition to clean and sustainable practices. Ubatt GmbH has been a key player in pioneering eco-friendly recycling practices, and this acquisition marks a significant milestone in our journey towards a greener future. The acquisition will be carried out through Sunlight Recycling SA, a subsidiary of Sunlight Group, subject to the approval of the acquisition by the competent competition authorities.
Ubatt GmbH currently collects more than58.000 tons of used batteries on an annual basis, both lead and lithium, and plays a pivotal role in the Group's recycling business alongside Sunlight Recycling and ECORBA in Italy. The agreement for the acquisition of Ubatt follows the milestone decision announced in November 2023, wherein Sunlight Group successfully completed the spin-off of its Lead-Acid Accumulators and Other Lead Materials (Recycling Sector), establishing Sunlight Recycling to accelerate the expansion in the global used batteries market.
Lampros Bisalas, CEO of Sunlight Group highlighted: “The acquisition of Ubatt represents an additional step in expanding our footprint in the global batteries recycling market. This strategic move aligns with Sunlight’s mission to drive positive change in the renewable energy sector, empowering communities, and industries with clean, efficient, and reliable battery solutions. We are confident that this acquisition will contribute to the realization of our vision for a more sustainable and environmentally conscious world across all the geographies we operate, while it will fortify our supply chain by integrating additional and sustainable materials.”
The acquisition of Ubatt's 100% equity aligns with Sunlight's strategy, emphasizing a platform-based approach for subsidiary unification. The initiative enhances operational efficiency, fostering synergies in the collection and recycling of used batteries for the benefit of customers, shareholders, stakeholders, and the over 3,600 employees. At the same time, it strengthens Sunlight's position in the recycling of used batteries for both lead and lithium technologies, marking a notable milestone and emphasizing the Group’s unwavering dedication to sustainability as a pivotal global player in the energy storage business.
About Sunlight Group Energy Storage Systems
Sunlight Group, with over 30 years of experience in the production of lead-acid and lithium-ion batteries, holds a leadership position in motive power batteries for intralogistics, and specifically electric forklifts, as well as in Energy Storage Systems for on-grid, off-grid, and residential applications. Sunlight supplies the international market with innovative and cost-efficient products, manufactured and assembled in its state-of-the-art facilities in Greece, Italy, Germany, Israel and the USA, and distributed either directly or via authorized partners’ network to more than 115 countries. It also operates sales offices and provides customer support, after-sales, and warehousing services in the countries it carries production activities, as well as Romania, the Netherlands, Denmark, Luxemburg, France, UK, Spain, Portugal and Australia.
With a specialized team of scientists at dedicated R&D centers and more than 15 years of experience in lithium-ion innovation, Sunlight Group invests in emerging technologies to support the sustainable development of integrated, software-based, energy storage solutions. The company combines its circular economy business model, facilitated by the operation of one of Europe’s most advanced recycling units, with a technology-agnostic approach and data-driven insights to develop environmentally friendly storage solutions for the industrial mobility, leisure mobility, and ESS sectors. Solutions that render sustainable energy more accessible and reliable, supporting energy transition and security. As a proud Participant of the United Nations Global Compact, Sunlight Group is committed to aligning strategies and operations with universal principles on human rights, labor, environment, and anti-corruption; and to take actions that advance societal goals.
Sunlight is a member of Olympia Group, an international investment group. For additional information please visit: https://www.the-sunlight-group.com/en/global/
Or contact:
Sunlight Group Press Office, press(at)sunlight.gr; +30 2106245420
Angeliki Eleftheriou a.eleftheriou(at)sunlight.gr +30 210 624 5800
Stefan Westemeyer, stefan.westemeyer(at)triathlon.group; +49 911 14691260 / +49 160 951 287 54
