VALENCIA, Spain, June 27, 2025 (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 resolutions were approved at its 2025 Annual General Meeting of Shareholders held on June 24, 2024 in Valencia, Spain: To elect eight persons to the Board of Directors of the Company, each to serve until the next annual general meeting of shareholders, or until such person’s successor is duly elected a ...

Core Insights - Turbo Energy S.A. has been granted a new patent for an innovative system that integrates energy storage and expands photovoltaic generation in upstream installations, enhancing energy efficiency and flexibility in self-consumption solar power systems [1][2][4] Patent Details - The patent (iP202430282) allows for the addition of energy storage and/or new photovoltaic panels to existing installations without complex retrofitting, optimizing energy usage and reducing reliance on the external power grid [2][3] - The patented solution introduces a "compensation value" concept that maintains a minimum grid consumption level, maximizing surplus energy capture and storage during peak production hours [3] Company Vision and Products - The CEO of Turbo Energy stated that this patent represents a significant advancement in distributed energy innovation, enabling users to control their energy production and storage capabilities [4] - The patented technology is incorporated into Turbo Energy's next-generation energy management solutions, including SUNBOX Home, SUNBOX Industry, and SUNBOX Utility for various applications [4][5] Company Background - Founded in 2013, Turbo Energy is recognized for its proprietary solar energy storage technologies managed through AI, aiming to reduce dependence on traditional energy sources and lower electricity costs [5] - Turbo Energy's flagship product, SUNBOX, is one of the first high-performance, competitively priced all-in-one home solar energy storage systems, featuring patented EV charging capability and AI processes for optimizing solar energy management [5]

Core Insights - Turbo Energy S.A. is showcasing its AI-optimized solar energy storage solutions at Intersolar Europe 2025, a leading exhibition for the solar industry, which attracts over 110,000 participants annually [1][2] Company Overview - Founded in 2013, Turbo Energy is recognized for its proprietary solar energy storage technologies, utilizing AI to enhance energy management [5] - The company's flagship product, SUNBOX, is one of the first high-performance, competitively priced all-in-one home solar energy storage systems, featuring patented EV charging capability [5] Event Participation - Turbo Energy will be present at Booth B1.430 in Hall B1 during Intersolar Europe 2025, where senior executives and technical representatives will discuss the impact of AI-enabled SUNBOX solutions on energy storage and management [2][4]

Core Insights - Turbo Energy S.A. has partnered with Saesa to expand smart battery systems in Chile, marking a significant step in its Latin American expansion [1][2] - The first joint project involves a smart battery energy storage system at Bayas del Sur, enhancing energy optimization and reducing fuel dependence [2][3] - The project features lithium batteries with 200 kW power and 880 kWh storage capacity, designed to support operations during peak demand and grid outages [3] Company Overview - Turbo Energy, founded in 2013, specializes in AI-optimized solar energy storage technologies, aiming to reduce dependence on traditional energy sources [5] - The company has launched Turbo Energy Solutions, focusing on photovoltaic generation, energy storage, and smart energy management in Latin America [4] - Turbo Energy's flagship product, the SUNBOX, is a high-performance solar energy storage system with EV charging capability [5]

Financial Performance - The company reported a net loss of €3,337,000 (approximately US$3,454,130) for the year ended December 31, 2024, compared to a net loss of €2,013,788 for 2023[43]. - Turbo Energy's total revenues for the year ended December 31, 2024, declined by 27% to €9,638,012 (approximately US$9,976,306) from €13,140,771 in 2023[166]. - Revenue from the top 10 customers accounted for approximately €4,391,090 (approximately $4,242,189) or 44.9% of total revenue for the fiscal year ended December 31, 2024, up from 35.9% in 2023[44]. - The company has a history of losses and may not achieve or sustain profitability in the future[43]. Research and Development - Research and development expenses for the fiscal year ended December 31, 2024, were €361,333 (approximately US$374,016), with similar expenses of €361,420 in 2023, indicating a focus on developing new solar energy storage and management products[31]. - The company expects to incur significant research and development costs, which could reduce profitability and may not result in revenue[31]. - The implementation and use of AI and machine learning technologies are critical for the company, with significant investments being made to enhance the Turbo Energy App[80]. - The continuous development and maintenance of AI technologies are complex and expensive, with potential unforeseen difficulties impacting performance[84]. Market Conditions and Competition - The energy storage market is highly competitive, with established and new companies entering, potentially leading to lower sales and market share[33]. - Future growth is contingent on the adoption of solar energy solutions, which may be impacted by regulatory changes and market conditions[35]. - The company faces significant competition in AI and machine learning, which could adversely affect its operating results and growth if it cannot keep pace with competitors[85]. - The global solar energy market was valued at $253.69 billion in 2023 and is projected to reach $273 billion in 2024, with a CAGR of 6% expected until 2032[167]. Operational Risks - Supply chain disruptions and increased costs of raw materials could adversely affect production and product delivery[26]. - The company is dependent on a few customers for a significant portion of net revenues, which poses a risk to financial stability[25]. - The company is dependent on a limited number of suppliers for critical components, including batteries, inverters, and photovoltaic modules, which poses a risk to its operations[51]. - The company faces risks related to product quality, which could lead to negative publicity, litigation, and decreased revenues[25]. Cybersecurity and Compliance - The company is exposed to risks from cybersecurity threats that could affect its energy monitoring and management systems[28]. - Umbrella Global has identified cybersecurity as a key risk area and has assigned oversight to the IT manager, collaborating with local vendors[88]. - A material network breach could lead to significant reputational damage and potential claims against the company, affecting business operations[90]. - The company is exposed to risks related to environmental regulations and potential compliance costs associated with lithium-ion battery manufacturing and disposal[61]. Strategic Expansion - The company plans to expand into new markets, which could introduce additional business and competitive risks[26]. - The company plans to enter the U.S. market in 2025, but tariffs on lithium-ion batteries imported from China may increase costs and affect gross margins[58]. - Turbo Energy acquired 100% of IM2 Energía Solar Proyecto 35 S.L.U. for a total consideration of €2,250, which has since become a wholly-owned subsidiary[156]. - A new wholly-owned subsidiary, Turbo Energy USA, LLC, was formed to expand business into the United States, with incorporation effective January 1, 2025[158]. Product Development and Innovation - The SUNBOX Home system offers scalable capacity of up to 40 kW in backup battery power, managed through the Turbo Energy App[184]. - The SUNBOX Industry system, introduced in 2024, can scale from 30 kW to 2000 kW in power and 30 kWh to 4000 kWh in storage capacity[187]. - The Turbo Energy App, which optimizes energy management, is expected to generate recurring SaaS revenues starting in 2025[207]. - The company has developed a proprietary inverter to enhance its value proposition in energy storage solutions[217]. Governance and Shareholder Matters - Mr. Enrique Selva Bellvis owns approximately 71.22% of the outstanding ordinary shares, giving him significant control over shareholder decisions[122]. - The company qualifies as a "controlled company" under Nasdaq rules, allowing it to opt out of certain corporate governance requirements, which may affect shareholder protections[123]. - The company is classified as an "emerging growth company" under the JOBS Act, permitting it to rely on exemptions from certain disclosure requirements, potentially resulting in less information for shareholders[124]. - Future issuances of ADSs or ordinary shares could lead to a decline in market price and dilution of existing holdings[128].

Core Insights - Turbo Energy, S.A. has received UL 5500 and 9540 certifications for its SUNBOX Home solar energy storage system, marking a significant milestone in its U.S. market entry [1][3] - The UL certification is essential for permitting and insurance, confirming that Turbo Energy's products meet stringent safety and regulatory standards [3][5] - The company plans to launch SUNBOX Home in five U.S. states, with initial installations scheduled in California, Florida, Georgia, Louisiana, and Texas [3][4] Company Overview - Turbo Energy, founded in 2013, specializes in AI-optimized solar energy storage technologies and solutions, aiming to reduce reliance on traditional energy sources [6] - The SUNBOX Home system features a modular energy storage capacity of up to 20.48 kWh and is supported by a cloud-based SaaS solution for optimized energy management [4][6] - Turbo Energy is a subsidiary of Umbrella Global Energy, S.A., a collective focused on solar energy solutions [6]

Core Insights - Turbo Energy, S.A. has received UL 5500 and 9540 certifications for its SUNBOX Home solar energy storage system, marking a significant milestone in its U.S. market entry [1][5][7] - The UL certification is essential for permitting and insurance, validating that Turbo Energy's products meet stringent safety and regulatory standards [5][7] - The company plans to launch SUNBOX Home in five U.S. states, with initial installations scheduled in California, Florida, Georgia, Louisiana, and Texas [5][6] Company Overview - Turbo Energy, founded in 2013, specializes in AI-optimized solar energy storage technologies and solutions, aiming to reduce reliance on traditional energy sources [8] - The SUNBOX Home system features a modular energy storage capacity of up to 20.48 kWh and utilizes AI for optimized energy management and predictive analytics [6][8] - Turbo Energy is a subsidiary of Umbrella Global Energy, S.A., a collective focused on solar energy solutions [8]

Core Viewpoint - Turbo Energy, S.A. has filed a lawsuit against Sigenergy International S.L. for false advertising regarding its product claims about the SigenStor energy storage system [1][2][3] Company Overview - Turbo Energy is a pioneer in solar energy storage technologies, founded in 2013, and offers AI-optimized solutions for residential, commercial, and industrial users [4] - The company's flagship product, SUNBOX EV, is marketed as a highly integrated, all-in-one energy storage system, which includes patented EV charging capabilities [4] Legal Action - The lawsuit aims to compel Sigenergy to acknowledge that its promotional statements about SigenStor being the "world's first highly integrated 5-in-1 energy storage system" are misleading and unlawful [2][3] - Turbo Energy asserts that it has been marketing its SUNBOX EV product since April 22, 2022, well before Sigenergy's claims [2] Industry Context - The solar energy storage sector is rapidly growing, attracting numerous competitors, and Turbo Energy welcomes competitive pressure as it drives innovation [3] - The company emphasizes the importance of ethical advertising practices in the industry to maintain integrity and transparency [3]

Core Insights - Turbo Energy, S.A. has launched Turbo Energy Solutions (TES) in Chile to provide advanced solar energy solutions for commercial and industrial customers, marking its expansion into Latin America [1][2] - The company introduced an Energy-as-a-Service (EaaS) financing model, allowing customers to utilize solar energy systems without large upfront investments, potentially creating a new recurring revenue stream for Turbo Energy [2][3] - The first installation of the SUNBOX Industry system at Alto Labranza Shopping Center in Temuco, Chile, has been completed, featuring a capacity of 102.4 kWh and expected to generate over 147 MWh of clean energy annually [4][5] Company Developments - The installation at Alto Labranza is the first project in partnership with the Molina Brothers' Smart Dock group, showcasing Turbo Energy's innovative business model in a leading renewable energy market [4][6] - Following the activation of the system, a nationwide blackout occurred, but the shopping center remained operational, demonstrating the reliability and efficiency of the solar energy and smart storage system [5][6] - The CEO of Turbo Energy highlighted the significance of this project as a milestone for the company's global expansion and the introduction of smart storage systems in Latin America [6]

Core Insights - Turbo Energy, S.A. has launched a new Energy-as-a-Service (EaaS) financing model aimed at reducing the initial investment burden for customers adopting sustainable energy technologies in Chile [1][4] - The company has successfully completed the first installation of its SUNBOX Industry system at the Alto Labranza Shopping Center in Temuco, Chile, which remained operational during a nationwide blackout shortly after activation [6][7] Company Expansion - Turbo Energy Solutions, a wholly owned subsidiary of Turbo Energy, has been established to provide integrated solar energy solutions for commercial and industrial customers in Chile [1][3] - The collaboration with the Molina Brothers' Smart Dock group marks Turbo Energy's entry into the Latin American market, focusing on renewable energy and innovative business models [5][7] Technological Implementation - The SUNBOX Industry system installed at Alto Labranza features a hybrid solar generation and active storage system with a capacity of 102.4 kWh, expected to generate over 147 MWh of clean energy annually [5][6] - The EaaS financing program allows customers to utilize advanced solar energy systems without large upfront costs, creating a recurring revenue stream for Turbo Energy [4][3] Market Impact - The successful operation of the Alto Labranza system during a blackout demonstrates the reliability and efficiency of renewable energy solutions in commercial settings [6][7] - The introduction of the EaaS model is anticipated to drive significant growth for Turbo Energy as acceptance of the SUNBOX Industry system increases in the region [4]