Join Turbo Energy at Intersolar Europe 2025 in Munich, Germany at Booth B1.430 in Hall B1 Join Turbo Energy at Intersolar Europe 2025 in Munich, Germany at Booth B1.430 in Hall B1 VALENCIA, Spain, May 07, 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 the Company is showcasing its growing line of smart SUNBOX energy storage solutions at Int ...

VALENCIA, Spain, April 30, 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, has teamed with Saesa, one of Chile’s largest electric utilities, to expand the deployment of smart battery systems across the Andean country. This partnership marks a significant step forward in Turbo Energy’s expansion into Latin America, resulting in the completion of the companies’ first jo ...

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][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 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 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]

Core Insights - Turbo Energy has launched the SUNBOX Home Lite, a new solar energy storage solution designed for smaller residential installations requiring less than 15kWh of battery storage capacity [1][2][6] - The product is supported by a cloud-based SaaS solution that utilizes AI for data collection, energy management, and predictive analytics [2][6] - Turbo Energy has shipped 100 units of SUNBOX Home Lite to Solar360 for immediate installation, enhancing its partnership with the joint venture of Repsol and Telefónica España [3][4] Company Overview - Turbo Energy, founded in 2013, specializes in AI-optimized solar energy storage technologies and solutions, aiming to reduce dependence on traditional energy sources [7] - The company is a subsidiary of Umbrella Global Energy, S.A., and operates across Europe, North America, and South America [7] - Turbo Energy's innovations, including the SUNBOX, are designed to provide affordable and sustainable energy solutions for residential, commercial, and industrial users [7] Market Position - The introduction of SUNBOX Home Lite is expected to enhance Turbo Energy's product offerings and reinforce its commitment to customer-centric innovation in the solar energy sector [6] - Solar360, as a partner, leverages its expertise in photovoltaic installations and IoT capabilities to optimize market offerings [3][4] - The collaboration aims to meet the growing demand from smaller homeowners for efficient solar energy storage solutions [4][6]

Core Viewpoint - Turbo Energy, S.A. has appointed Julian Groves to its Board of Directors, a decision approved by shareholders on December 18, 2024, which is expected to enhance the company's strategic initiatives and market expansion efforts [1][3][9]. Company Overview - Turbo Energy is a global provider of AI-optimized solar energy storage technologies, founded in 2013, focusing on reducing dependence on traditional energy sources and promoting sustainable energy solutions [9]. - The company offers modular energy storage systems that cater to residential, commercial, and industrial users across Europe, North America, and South America [9]. Appointment of Julian Groves - Julian Groves brings extensive experience in commercial strategy, market expansion, product distribution, capital formation, and corporate governance, with nearly three decades in various leadership roles [4][9]. - His previous roles include Chief Operating Officer at MGO Global, where he facilitated significant financing efforts, and CEO of EC2M Holdings, focusing on lifestyle brand development [5][6]. - Groves has a proven track record in retail and e-commerce, having held senior positions at notable brands such as GUESS, Burberry, and LVMH [7]. Strategic Impact - The appointment of Groves is anticipated to significantly impact Turbo Energy's planned expansion, particularly in the commercialization of its SUNBOX Home solar energy storage technologies in the United States [9].