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Turbo Energy, S.A. American Depositary Shares - $TURB STOCK NEWS

Welcome to our dedicated page for Turbo Energy, S.A. American Depositary Shares news (Ticker: $TURB), a resource for investors and traders seeking the latest updates and insights on Turbo Energy, S.A. American Depositary Shares stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Turbo Energy, S.A. American Depositary Shares's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

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Rhea-AI Summary

Turbo Energy, a leader in photovoltaic energy storage, has filed a patent application for its Sunbox C&I product with the Spanish Patent and Trademark Office. The product offers efficient and adaptable solutions for solar installations, allowing for increased production capacity and cost savings. CEO Mariano Soria expressed optimism for approval and plans for international expansion.

Rhea-AI Impact
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End-of-Day
-6.67%
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Rhea-AI Summary
Turbo Energy, S.A. reported revenues of €13.14 million ($14.54 million) and a net loss of €2.01 million ($2.23 million) for the year ended December 31, 2023. The company faced challenges in the photovoltaic sector due to high interest rates, energy price decreases, and subsidy reductions, leading to a decline in sales volumes, particularly in Spain.
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End-of-Day
-3.97%
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Rhea-AI Summary
Turbo Energy's GoSolar solution is now available for sale at El Corte Inglés S.A., the third largest department store group globally, marking a significant step towards sustainability and innovation in photovoltaic energy storage.
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-2.53%
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Rhea-AI Summary
Solar360 and Turbo Energy have formed an alliance to revolutionize the solar photovoltaic self-consumption sector by providing smart battery technology to maximize user savings and provide energy when needed. The strategic alliance will see Turbo Energy providing intelligent batteries, while Solar360 will act as an energy services promoter, installing these batteries in homes, commercial areas, and industries across the country. The innovative product, Sunbox, combines an inverter, battery, and software, with AI algorithms to maximize energy savings and provide personalized performance for the user. The proposal includes a user-friendly mobile application for customization of the device's operation.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.06%
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partnership
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Rhea-AI Summary
Turbo Energy, S.A. (NASDAQ: TURB) announced a transition in management structure due to governance policies of Umbrella Solar Investment (USI), resulting in Enrique transitioning from CEO to Chairman of the Board. Mariano Soria, with 20+ years of experience, becomes the new CEO to lead the company's development and fulfillment of its business plan.
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Rhea-AI Sentiment
End-of-Day
-3.91%
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management
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Rhea-AI Summary
Turbo Energy, S.A. (NASDAQ: TURB) reported revenues of €7.2 million and a net income of € (697) thousand for the six months ended June 30, 2023. The company's management highlighted challenges in the residential and industrial self-consumption photovoltaic sector due to external factors such as high interest rates, energy price decreases, and subsidy reductions. This led to weak demand and significant reduction in revenue volumes, particularly in Europe, the company's main market.
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-3.91%
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Turbo Energy, S.A. (Nasdaq: TURB) announced that Movistar is selling their GoSolar offering through Solar360, marking a step towards sustainability. This revolutionary solution includes a small microinverter and lightweight, flexible panels, allowing users to install it themselves. Movistar's commitment to innovation and sustainability aligns with Turbo Energy's pursuit of cleaner and more efficient photovoltaic generation solutions.
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Rhea-AI Sentiment
End-of-Day
-7.65%
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Rhea-AI Summary
Turbo Energy, S.A. (Nasdaq: TURB) announced a strategic alliance with Leroy Merlin to include its residential photovoltaic product, Sunbox, in Leroy Merlin's range of photovoltaic products available in Spain. The collaboration is expected to drive the adoption of photovoltaic energy in Spain and contribute to the global effort to combat climate change.
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End-of-Day
-5.36%
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Turbo Energy, a Spain-based company specializing in photovoltaic solar energy storage, has obtained a patent for its software development that allows its product, SUNBOX, to be positioned as one of the most innovative residential photovoltaic equipment on the market. SUNBOX combines an algorithm powered by Artificial Intelligence (AI) with an electric vehicle charger, providing a comprehensive smart management experience for home photovoltaic installations.
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4.6%
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AI
Rhea-AI Summary
Turbo Energy successfully completes IPO on Nasdaq, raising capital for growth and expansion.
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-14.5%
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Turbo Energy, S.A. American Depositary Shares

Nasdaq:TURB

TURB Rankings

TURB Stock Data

13.33M
4.55M
0.54%
0.06%
Optical Instrument and Lens Manufacturing
Manufacturing
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United States of America
Valencia