TurboGen Advances in the European Market: Signs LOI for System Installation with New Strategic Partner in Europe

November 11, 2024 – TurboGen (TASE: TURB) (OTCPK: TURG.F), a leader in developing advanced innovative solutions for local energy production, is pleased to announce today that it has entered into a Letter of Intent (LOI) with the Gemran Company ‘IP Innovative Power GmbH’ for the supply and installation of the company’s micro-turbine systems in buildings where IP Innovative Power operates. The agreement, signed on  November 11th 2024, represents a significant step in TurboGen’s expansion into the European market and the German Market specifically, and in advancing TurboGen’s innovative “Energy as a Service” model.

 Yaron Gilboa, CEO of TurboGen, remarked: “The signing of this LOI marks another significant milestone in TurboGen’s global expansion. The growing demand for efficient and sustainable energy solutions in the European market underscores the need for TurboGen’s innovative technology. We believe that our ‘Energy as a Service’ model will enable customers to benefit from our technology while reducing costs and increasing energy efficiency.”

 This development follows recent successes reported by TurboGen, including the first installation of a commercial system in New York and the completion of successful trials at Technion laboratories, which validate the hydrogen combustion capabilities of the company’s systems.

About TurboGen:

TurboGen (TASE: TURB) specializes in developing advanced solutions for local energy production in buildings and various facilities. The company’s innovative technology is designed to provide efficient, reliable, and environmentally friendly energy solutions, addressing the growing global demand for distributed power generation.

For more information about the company: https://turbogenchp.com

About IP Innovative Power GmbH:

IP Innovative Power GmbH provides a micro-grid service platform (Energy as a Service) and specializes in advanced energy solutions for real estate. The company operates systems for leading real estate groups in Europe, integrating various technologies such as solar panels, heat pumps, and CHP systems under centralized management. The company provides comprehensive service including planning, installation, operation, and maintenance, with customization for each property and data-driven management. The key advantage is that the company fully finances the projects, allowing customers to enjoy efficient and green energy without investment on their part.

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Company Name: TurboGen CHP
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Website: https://turbogenchp.com/