TurboGen (TRBG) entered into a long-term agreement with an EU-based engineering and manufacturing provider to develop and produce its 20kW systems.
The agreement covers serial development and production for defense and civilian markets, with an initial five-year term and automatic annual renewals. TurboGen expects its compact systems to be ready for commercialization upon completion of the development phase. The agreement aims to support product sales in both markets; commercial readiness remains dependent on completing development.
TurboGen (TRBG) reported a $4.2 million net loss for the first half of 2026 as it prepared its microturbines for commercialization.
The company generated no revenue. Its net loss narrowed 45% from $7.6 million a year earlier, mainly reflecting a $6.4 million favorable change in warrant fair-value and debt-extinguishment effects that partly offset higher operating expenses. Operating loss rose to $5.2 million from $2.3 million, while cash used in operations increased to $2.7 million from $1.4 million. Cash was $7.2 million and shareholders’ equity was $1.6 million at June 30.
TurboGen raised $5 million in gross proceeds through an August 2026 private placement, and its ordinary shares began Nasdaq trading on August 31. It completed assembly of its first TR8000, an 80kW model, and expects initial installations of 32kW to 80kW systems toward the end of 2026.
TurboGen (TRBG) signed a non-binding memorandum of understanding with a U.S. operator of residential care and rehabilitation centers for an anticipated purchase of approximately 40 units of its 80Kw combined heat and power (CHP) systems.
The MOU envisions installing these microturbine-based systems across the operator’s facilities, based on TurboGen’s estimate of their energy demand, and is subject to negotiation and execution of a definitive purchase agreement. TurboGen’s CEO said the 80Kw CHP units are tailored for larger residential and commercial operations and views this interest as recognition of the technology’s benefits and as potential support for shareholder value following the company’s recent Nasdaq listing. TurboGen plans to provide further updates on this MOU and other business developments.
TurboGen (TRBG) entered a strategic business consulting and development agreement with a strategic group that includes former New York City Mayor Eric Adams, who will join the company’s Advisory Board.
The collaboration is intended to expand TurboGen’s access to strategic customers and partners in the United States and internationally, enhance business development, and create new commercial opportunities for its multi-fuel microturbine distributed power-generation technology. Adams is expected to provide strategic guidance, support market-access initiatives, assist with introductions to potential customers and partners, and represent TurboGen in U.S. media and other external forums across applications such as buildings, hotels, nursing homes, data centers, and off‑grid energy users.
Turbogen (NASDAQ:TRBG) announced that its ordinary shares have been approved for listing on the Nasdaq Capital Market and will begin trading on August 31, 2026, under ticker TRBG. The company will continue to trade on the Tel Aviv Stock Exchange under symbol TURB.
Management expects the dual listing to support broader investor access, increased liquidity, and higher visibility among global capital markets participants.