Turbo Energy (NASDAQ: TURB) provided an update on the operational and financial effects of the devastating October 2024 flash floods in southeastern Spain. While the company’s headquarters and supply chain remained largely unaffected, its warehouse sustained damage, compromising $2.3 million in legacy product inventory. Turbo Energy confirmed full insurance coverage for the losses, with reimbursement expected within 60-90 days. CEO Mariano Soria expressed gratitude for the team’s efforts in cleanup and community recovery, emphasizing the company’s strength and optimism for growth and global expansion in 2025, while extending condolences to those affected by the disaster.
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About Turbo Energy S.A.
Founded in 2013, Turbo Energy is a globally recognized pioneer of proprietary solar energy storage technologies and solutions managed through Artificial Intelligence (“AI”). Turbo Energy’s elegant all-in-one and scalable, modular energy storage systems empower residential, commercial and industrial users expanding across Europe, North America and South America to materially reduce dependence on traditional energy sources, helping to lower electricity costs, provide peak shaving and uninterruptible power supply and realize a more sustainable, energy-efficient future. A testament to the company’s commitment to innovation and industry disruption, Turbo Energy’s introduction of its flagship SUNBOX represents one of the world’s first high performance, competitively priced, all-in-one home solar energy storage systems, which also incorporates patented EV charging capability and powerful AI processes to optimize solar energy management. Turbo Energy is a proud subsidiary of publicly traded Umbrella Global Energy, S.A., a vertically integrated, global collective of solar energy-focused companies. For more information, visit the company’s website at www.Turbo-E.com.
NOTE TO INVESTORS: The latest news and updates relating to TURB are available in the company’s newsroom at https://ibn.fm/TURB
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