November 19, 2024 – TurboGen (TASE: TURB) (OTCPK: TURG.F), a leader in developing advanced innovative solutions for local energy production, is pleased to announce the signing of a Memorandum of Understanding (MOU) with a leading Israeli defense company. The agreement, signed on November 19th 2024, focuses on integrating TurboGen’s cutting-edge technology into a portable energy production system.
This collaboration leverages TurboGen’s unique technology, which features high energy efficiency and superior performance. As validated by Technion laboratories, TurboGen’s systems operate effectively at high temperatures in combustion chambers powered by hydrogen, natural gas, diesel, and other green fuels. These capabilities enable the creation of compact and lightweight mobile energy systems, perfectly suited for field operations.
Yaron Gilboa, CEO of TurboGen, commented: “The signing of this MOU marks a major milestone in expanding the applications of our technology. The rising demand for efficient mobile energy solutions presents a strategic opportunity for TurboGen to enter new markets and offer reliable, independent energy systems where no power grid exists. We are proud to collaborate with a top-tier player in the defense sector, solidifying our reputation as a provider of innovative and dependable technology.”
This partnership adds to TurboGen’s recent milestones, including the first installation of its commercial system in New York, an MOU for system installations in Germany, and another MOU for installations in the U.S.
For full details please refer to TurboGen’s filing on the ISA’s Maya Site.
About TurboGen:
TurboGen (TASE: TURB) (OTCPK: TURG.F) 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 the Defense Company:
A leading defense company in Israel and globally, which is part of a large corporation that provides systemic solutions in both civilian and military domains. The corporation is a multinational technology company specializing in systems development and energy solutions for mobile systems designed for field conditions.
Forward-Looking Statements
Some of the information contained in this press release contains forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The Company undertakes no obligation to publicly update or revise any forward-looking statements.
Media ContactCompany Name: TurboGen CHPContact Person: Investor ContactEmail: Send EmailCountry: IsraelWebsite: https://turbogenchp.com/
