German e-mobility solutions provider Voltabox AG has announced the termination of negotiations to sell its 80% stake in local solar energy equipment firm GreenCluster GmbH. Despite reaching advanced stages in discussions with an undisclosed party, Voltabox disclosed that no agreement could be reached.
In May, Voltabox initially revealed its intention to sell its stake in GreenCluster, along with shareholder loans extended to the firm, anticipating proceeds in the medium six-figure range from the potential transaction.
GreenCluster specializes in tailored photovoltaic solutions with integrated energy storage for residential and commercial use. Voltabox's division, VoltaStore, which encompasses its investment in GreenCluster, is projected to generate revenues of EUR 7 million (USD 7.48m) in 2024.
This revenue accounts for approximately two-thirds of Voltabox's total consolidated revenue, estimated at around EUR 10.5 million.
