German e-mobility solutions provider Voltabox AG said on Thursday that it has terminated discussions to sell its 80% stake in local solar energy equipment firm GreenCluster GmbH to an unnamed party.
Although negotiations have already been well advanced, no agreement could be reached, Voltabox said.
The German e-mobility solutions provider first disclosed in May that it had been in talks regarding the sale of GreenCluster stake as well as shareholder loans granted. Voltabox expected proceeds of a medium six-figure amount from the potential deal.
GreenCluster is offering customised photovoltaic solutions with energy storage for households and businesses. Voltabox’s division VoltaStore, which exclusively comprises the investment in GreenCluster, is expected to book revenue of EUR 7 million (USD 7.48m) in 2024. The amount forms roughly two-thirds of Voltabox’s total consolidated revenue of around EUR 10.5 million.
