Turbo Energy, S.A. - American Depositary Shares (TURB)

Company Granted UL Certifications After Undergoing U.S.’s Most Demanding Testing and Evaluation Processes

VALENCIA, Spain, March 26, 2025 (GLOBE NEWSWIRE) -- Turbo Energy, S.A. (NASDAQ:TURB) (“Turbo Energy” or the “Company”), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, today announced that it has filed a lawsuit in the Mercantile Court of Madrid in the Kingdom of Spain against Sigenergy International S.L. in an action for the cessation and rectification of illegal advertising relating to its baseless claim that its product marketed as SigenStor is the “world’s first highly integrated 5-in-1 energy storage system.”

Introduces New Energy-as-a-Service (EaaS) Financing Model to Mitigate Large Initial Investments in Sustainable Energy Technologies by Customers in Chile

100 Units Shipped to Spain-Based Solar360 for Immediate Installations in Smaller Homes Requiring Less Than 15kWh in Battery Storage Capacity to Meet Energy Needs

VALENCIA, Spain, Feb. 11, 2025 (GLOBE NEWSWIRE) -- Turbo Energy, S.A. (NASDAQ:TURB) (“Turbo Energy” or the “Company”), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, today announced the appointment of Julian Groves to the Company’s Board of Directors, which was approved by the Company’s shareholders on December 18, 2024 at the Extraordinary General Meeting of Shareholders.

VALENCIA, Spain, Dec. 19, 2024 (GLOBE NEWSWIRE) -- Turbo Energy, S.A. (NASDAQ:TURB) (“Turbo Energy” or the “Company”), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, today announced voting results from the Company’s Extraordinary General Meeting of Shareholders (the “Meeting”) held yesterday, December 18, 2024, in Valencia, Spain. 

Turbo Energy (NASDAQ: TURB), a global leader in AI-optimized solar energy storage solutions, announced the results of its Extraordinary General Meeting held on Dec. 18, 2024, in Valencia, Spain. Representing 92.80% of issued and outstanding shares, shareholders approved several measures, including the expansion of the board to eight members with the appointment of Julian Groves as an executive director and the ratification of Deloitte as the Company’s accounting firm for 2024. Additional approvals included amendments to the 2023 Equity Incentive Plan, increasing the share allotment to 5.5 million shares, with annual automatic adjustments beginning in 2026, and granting powers for resolution formalization and registration. The Meeting minutes were also approved.

Turbo Energy (NASDAQ: TURB) provided an update on the operational and financial effects of the devastating October 2024 flash floods in southeastern Spain. While the company’s headquarters and supply chain remained largely unaffected, its warehouse sustained damage, compromising $2.3 million in legacy product inventory. Turbo Energy confirmed full insurance coverage for the losses, with reimbursement expected within 60-90 days. CEO Mariano Soria expressed gratitude for the team’s efforts in cleanup and community recovery, emphasizing the company’s strength and optimism for growth and global expansion in 2025, while extending condolences to those affected by the disaster.

VALENCIA, Spain, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Mariano Soria, Chief Executive Officer of Turbo Energy, S.A. (NASDAQ:TURB) (“Turbo Energy” or the “Company”), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, today issued a formal update to shareholders on the financial and operational impact of the historical flash flooding disaster that left much of Valencia and surrounding regions in southeastern Spain in ruins in late October 2024. Soria stated:

Turbo Energy (NASDAQ: TURB), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, today announced its plans to hold an extraordinary general meeting of shareholders beginning at 1:00 P.M. CET (UTC+01:00) on Wednesday, Dec. 18, 2024. The meeting will be held at the registered office of the parent company, Umbrella Global Energy, S.A., located in Valencia, Spain. Shareholders will be asked to vote on a number of proposals as addressed in the announcement. Remote attendance will be through a link to a live webcast that will be provided by the company at least five days prior to the meeting. To receive the webcast link directly, shareholders must send the request by e-mail to the address dodihandy@turbo-e.com or comply with the requirements established for registration on the company’s website.

VALENCIA, Spain, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Turbo Energy, S.A. (NASDAQ:TURB) (“Turbo Energy” or the “Company”), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, today announced that it will hold an extraordinary general meeting of shareholders (the “Meeting”) on Wednesday, December 18, 2024, beginning at 1:00 P.M. CET (UTC+01:00), and held at the registered office of the parent company, Umbrella Global Energy, S.A., located at Plaza America 2, 4º AB,46004 in Valencia, Spain. 

Turbo Energy (NASDAQ: TURB) has announced a strategic partnership with Florida-based Connection Holdings to introduce its AI-optimized SUNBOX Home solar energy storage system to the U.S. market. With a strong track record of installations in Europe, Turbo Energy aims to expand its market presence through this collaboration, leveraging Connection Holdings’ extensive network and expertise in performance marketing. The SUNBOX Home system offers homeowners scalable, fully integrated energy storage with AI-driven optimization, positioning it to meet the growing demand for solar-plus-storage solutions in the U.S.

Marks Pivotal Step Forward in Turbo Energy’s Global Expansion Initiatives

Turbo Energy (NASDAQ: TURB), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, today provided a formal operation update from CEO Mariano Soria to shareholders. The update discussed the company’s expansion strategies and key global growth objectives for the coming year. Soria also highlighted critical initiatives that the company is working to complete within the next 30-90 days. These include obtaining U.S. certifications for the adoption of its SUNBOX solutions for residential solar storage applications; identifying the right strategic partners in the U.S.; accelerating market penetration in South America; expanding and diversifying its sales and distribution channels serving western European regions; unveiling to the global market its next generation, cloud-based SaaS mobile app; and attaining fundamental and sustainable financial strength. “Turbo Energy is at an important strategic and financial inflexion point in our history and we are grateful that you are with us,” wrote Soria.

VALENCIA, Spain, Sept. 17, 2024 (GLOBE NEWSWIRE) -- Mariano Soria, Chief Executive Officer of Turbo Energy, S.A. (NASDAQ:TURB) (“Turbo Energy” or the “Company”), a global provider of leading-edge, AI-optimized solar energy storage technologies and solutions, today issued a formal operational update to the Company’s shareholders on Turbo Energy’s business expansion strategies and key global growth objectives for the coming year.  Soria stated:

Turbo Energy (NASDAQ: TURB) is a leader in the field of photovoltaic energy storage managed through artificial intelligence (“AI”). The company today announced proposals that were approved at its 2024 annual general meeting of shareholders held on June 25 in Valencia, Spain. Among the proposals approved were elections to the company’s board of directors, confirmation of the appointment of TAAD LLP as the company’s independent registered public accounting firm, and individual annual accounts (balance sheet, profit and loss account, statement of changes in equity for the year, cash flow statement and notes to the annual accounts), as well as the management report, as required under the Spanish law. See the announcement for the complete list of proposals approved in the meeting.

VALENCIA, Spain, June 26, 2024 (GLOBE NEWSWIRE) -- Turbo Energy, S.A. (NASDAQ:TURB) (“Turbo Energy” or the “Company”), a leader in the field of photovoltaic energy storage, today announced that the following proposals were approved at its 2024 Annual General Meeting of Shareholders held on June 25, 2024 in Valencia, Spain:

Several environmental groups have praised the European Commission’s recently released guidelines on how governments can use impact assessments to ensure that green-energy deployments do not harm the environment. The guidelines underscore the need for robust assessments of the potential environmental impact of green-energy infrastructure such as solar arrays and wind turbines as the regional bloc strives to rid itself of its dependence on Russian energy exports.

Turbo Energy S.A. (NASDAQ: TURB), a leader in the field of photovoltaic energy storage, has filed a patent application with the Spanish Patent and Trademark Office (“OEPM”); the patent covers Turbo’s Sunbox Commercial & Industrial (“Sunbox C&I”) product, which is already available on the market. The Sunbox product is designed to provide the most efficient, adaptable solution for both isolated and grid-connected projects. The Sunbox C&I software allows Turbo Energy’s proprietary technology to be combined with any previously operational facility, allowing for standardization of the system as well as being more cost effective. The Sunbox system is the most efficient electrical management system on the market today. “We are pleased to announce this patent application submission,” said Turbo Energy CEO Mariano Soria in the press release. “We are optimistic that the OEPM will approve our presentation after having thoroughly studied the technological base of the market and having already successfully tested our solution with our clients. Following Spanish approval, we plan to continue our expansion strategy for Sunbox by seeking an international patent that will provide Turbo Energy with substantial global revenue-growth opportunities.”

World-leading solar energy company Lightsource BP is poised to begin working on a solar park in central Greece with the financial backing of Eurobank and the National Recovery and Resilience Plan Greece 2.0. Construction on the 560 MW photovoltaic park, Enipeas Solar Park, will end sometime in 2026, and the completed park will be the second largest in all of Europe, after Germany’s 605 MW Witznitz solar farm.

VALENCIA, Spain, May 06, 2024 (GLOBE NEWSWIRE) -- Turbo Energy, S.A. (NASDAQ: TURB) (“Turbo Energy” or “the Company”), a leader in the field of photovoltaic energy storage, today announced it has filed a patent application with the Spanish Patent and Trademark Office (“OEPM”) for its Sunbox Commercial & Industrial (“Sunbox C&I”) product. This product, which is already available on the market, offers the most efficient and adaptable solution for both isolated and grid-connected projects. Additionally, the product allows for existing solar installations of any brand to be managed by the Sunbox system, thus expanding a user’s photovoltaic production capability as needed.

The European Commission and representatives of the continent’s solar energy parts manufacturers came together on April 15th to sign a charter, aimed towards achieving resilient within the European Union’s solar value chain and help meet the bloc’s renewable energy targets ( https://ibn.fm/iVywL ). A key element of the European Solar Charter signed by 23 of the 27 EUR countries, signaled a commitment from the signatory governments to realize the pending Net-Zero Industry Act (“NZIA”), legislation which will aim to ensure that the EU will have the manufacturing capacity for renewable technologies, including photovoltaics, nears 40 percent of annual deployment needs by 2030.

Last year was a record year for wind-capacity installations with more than 100 gigawatts of new wind power installed, a recent industry trade association report says. According to the Global Wind Energy Council’s latest Global Wind Report, new installations across the globe increased by 50% from 2022 to last year, making 2023 the best year on record for new wind-project installations.

Turbo Energy S.A. (NASDAQ: TURB), a leading energy-saving technology company leveraging artificial intelligence software, is reporting its financial numbers and business highlights for the year ended Dec. 31, 2023. Specifically, the company reported revenues of $14.54 million and a net loss of $2.23 million. Cost of revenue decreased 55%, to an estimated $13 million with selling and administrative expenses up 24% to more than $2.8 million. The company noted that key accomplishments for the year included its new SunBox Industry product line, a storage solution focused on the solar, commercial and industrial self-consumption market; an initial public offering of 1 million American Depositary Shares (“ADSs”) resulting in gross proceeds of $5 million; receiving a patent from Spain for a software development that allows Turbo to offer SunBox as a combined AI-driven, smart-management home photovoltaic system and electric vehicle charger; and a strategic alliance with French multinational retailer Leroy Merlin to include Sunbox in its range of photovoltaic products. In addition, as 2023 ended, the company announced that its GoSolar offering would be available for sale through the energy branch of Movistar, a Fortune 500 telecommunications leader in Spain and Latin America. “In addition, the downward trend in the prices of components related to photovoltaic installations, especially batteries, has started again, which is increasing the already high profitability of these installations for end users,” said the company in the press release. “All sector forecasts issued by experts predict very significant growth in sales for the coming years. This is a global trend in all scales of installations. Turbo Energy expects to once again embark on strong growth resulting from good sector growth expectations and commercial and product/software expansion plans launched from 2023.”

Valencia, Spain, April 18, 2024 (GLOBE NEWSWIRE) -- Turbo Energy, S.A. (NASDAQ: TURB), a leading energy-saving technology company leveraging artificial intelligence software, today announced that for the year ended December 31, 2023, the Company reported revenues of €13.14 million ($14.54 million) and a net loss of €2.01 million ($2.23 million).