Turbo Energy

A New Chapter Following its NASDAQ Debut

IPO Proceeds Devoted to Building Competitive Advantages and Fueling Global Expansion

Valencia, Spain, Sept. 28, 2023 (GLOBE NEWSWIRE) -- Turbo Energy, S.A. (Nasdaq: TURB) (the “Company”), a company engaged in the design, development, and production of equipment for the generation, management, and storage of photovoltaic (PV) energy, officially announced its successful debut on the Nasdaq stock exchange last Friday, September 22, 2023.

“We are thrilled to complete our Initial Public Offering,” said Chairman and CEO, Enrique Selva Bellvis. “Turbo Energy's entry into the stock market is considered a success in terms of capital raising. As detailed in our SEC filings, we expect that the IPO funds will be instrumental in driving Turbo Energy’s next phase of growth and expansion.”

“A major area of emphasis is product development, where Turbo Energy is firmly committed to staying at the forefront. With a vision focused on innovation, the Company aims to lead the PV storage energy in the residential, commercial, and industrial markets in high-tech areas such as software and artificial intelligence. We also intend to accelerate our international expansion schedule. While the company has already laid solid foundations in Europe, we are now gearing up to start operations in South America, with a newly formed team based in Chile. We also have an established team in place to plan expansion for the North American market, and anticipate announcing our initial moves there in 2024.”

In closing, Mr. Bellvis commented, “Turbo Energy sincerely thanks its investors, collaborators, and customers for their ongoing trust and support. I can assure you that our Company is committed to excellence, innovation, and sustainability, and believes that this new chapter on Nasdaq will be pivotal in consolidating our industry leadership.”

About Turbo Energy, S.A.

Turbo Energy, S.A. is a designer, developer, and manufacturer of equipment for the generation, management, and storage of photovoltaic (PV) energy. The Company’s energy storage products are managed, from the cloud by an advanced software system which is optimized by artificial intelligence (“AI”). The key advantage is that its products, compared to conventional battery storage systems, are focused on reducing the electricity bill in addition to protecting from power outages.