New York (Patrika English News): Shares of Turbo Energy S.A. (NASDAQ:TURB) surged more than 535% on Tuesday, after the Spanish energy storage company announced a $53 million contract to deliver projects totaling 366 MWh over the next two years.
The agreement covers more than 10 industrial sites in Spain, operated by a major construction industry client. Turbo Energy will integrate its systems with the facilities, using its AI-driven management platform to reduce power costs, boost efficiency, and accelerate electrification.
CEO Mariano Soria said the deal highlights market confidence in the company’s technology. “By entrusting us with the deployment of our C&I systems across multiple facilities, this project validates our differentiated storage technology and enables substantial cost savings,” Soria noted.
SUNBOX Industry at the Core
The deployments will use Turbo Energy’s SUNBOX Industry system, introduced in 2024, with power ranges from 30 kW to 2,000 kW and storage from 30 kWh to 4,000 kWh. The system’s brand-agnostic design allows integration with legacy infrastructure, making it suitable for industries facing volatile energy costs.
The initiative supports customer sustainability targets and Europe’s broader decarbonization goals, further strengthening Turbo Energy’s presence in the large-scale storage market.
Uber Partnership Expands Reach
Just last week, Turbo Energy disclosed a separate deal with Uber Technologies (NYSE:UBER) to support its EV fleet in Spain. The project created a 1 MW / 2 MWh smart hub capable of charging over 300 vehicles, helping Uber address grid constraints while advancing fleet electrification.
Stock Market Reaction
Following the announcement, TURB shares skyrocketed 535.19% to $17.15 at last check Tuesday, putting the company in sharp focus among investors tracking renewable energy plays.
ETFs such as the Invesco Solar ETF (NYSE:TAN) and iShares Global Clean Energy ETF (NASDAQ:ICLN) also provide broader exposure to the sector.
