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Turbo Energy, S.A. (Nasdaq: TURB) is a pioneering company based in Valencia, Spain, renowned for its innovative solutions in the field of photovoltaic (PV) energy. The company excels in the design, development, and distribution of equipment for the generation, management, and storage of PV energy.
Turbo Energy's core business involves the acquisition, distribution, and sale of electrical and electronic materials essential for renewable energy projects. These include solar panels, inverters, chargers, regulators, batteries, and structural components. The company's flagship product, the Sunbox, integrates advanced software systems and artificial intelligence (AI) to optimize energy storage and usage, providing significant savings on electricity bills and enhancing reliability during power outages.
The company's advanced software system, managed from the cloud, allows for seamless control and optimization of energy storage. This AI-powered system monitors energy generation, consumption patterns, market prices, and weather conditions to maximize efficiency and cost savings. Turbo Energy primarily serves residential consumers in Spain, selling its products through installers and other distributors.
In recent developments, Turbo Energy successfully launched its Initial Public Offering (IPO) on the Nasdaq Capital Market, raising $5,000,000 to fuel its growth and innovation strategies. The company has been expanding its international presence, with sales initiatives in 14 countries across Europe and plans to enter the South American and North American markets.
Recent Achievements and Projects:
- Partnership with major retailers like Leroy Merlin to distribute the Sunbox in Spain.
- Launch of a portable photovoltaic product for home balconies and a commercial/industrial scale version.
- Strategic alliance with Solar360 to install intelligent batteries across various sectors.
- Expansion of product lines incorporating AI and advanced software for energy optimization.
Financial Condition: Despite market challenges, Turbo Energy remains optimistic about its future, driven by continuous innovation and strategic expansion plans. The company reported revenues of €7.2 million for the six months ended June 30, 2023, and is committed to leveraging its technological advancements to sustain growth.
For more detailed information, visit the company’s website at www.turbo-e.com.
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