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.