SECsense Logo

Turbo Energy, S.A. Reports €619K Fundraising for Global Expansion in Renewable Energy

$TURB
Form 6-K
Filed on: 2025-01-10
Source
Turbo Energy, S.A. Reports €619K Fundraising for Global Expansion in Renewable Energy

Here's a summary of the key information extracted from the financial report:

  1. Form Type and Filing Details:
  • This is a Form 6-K submitted by Turbo Energy, S.A., a foreign private issuer, to the SEC.
  • The filing date is January 10, 2025, covering the month of January 2025.
  • Commission File Number: U001-41813.
  1. Company Information:
  • Name: Turbo Energy, S.A.
  • Address: Street Isabel la Católica, 8, Door 51, Valencia, Spain 46004.
  1. Recent Financial Activity:
  • Turbo Energy has entered into an agreement with Enerfip, a French crowdfunding platform for renewable energy projects, dated August 26, 2024.
  • On January 7, 2025, the company closed a second tranche of subscriptions from European individual investors, raising €619,410 (approximately US$643,666).
  • This funding was through a simple debt bond with an interest rate of 8.75% and a maturity of 36 months from October 24, 2024 (the first tranche closing date).
  1. Future Plans:
  • Turbo Energy is planning a third fundraising campaign with Enerfip, which may have similar terms to the previous offerings.
  • The proceeds from these fundraising efforts will support the company's international expansion initiatives, particularly focusing on introducing their proprietary SUNBOX solar energy storage solutions to the U.S. and South American markets.
  1. Management:
  • The report is signed by Mariano Soria, Chief Executive Officer of Turbo Energy, S.A.

This report highlights Turbo Energy's ongoing efforts to raise capital through innovative financing mechanisms to support its expansion into new markets, particularly in the renewable energy sector.