Turbogen’s management opened trading this morning (Sunday), on the occasion of listing on the stock exchange. TurboGen is developing a multi-fuel micro-turbine for the local production of electricity and heat in buildings, which is based on natural biodiesel gas and diesel. The combined production of electricity and heat is intended to be used for heating buildings, increases overall energy efficiency, and is designed to solve the supply and transmission problems of electricity grid in city centers.
The company’s products are mainly intended for residential buildings, hotels, nursing homes, hospitals and more, especially in the US and Europe, where there are advanced infrastructures for transporting natural gas. 2023 and in Europe in 2024.
Turbogen has agreements to implement the technology at sites in New York State, and at digital currency server farms in the state of Wyoming in the United States. In Israel, the company entered into an agreement with “Supergas” for exclusive cooperation for the distribution of micro turbines.
The company issued NIS 18 million to the public, at a company value of NIS 143 million. The company’s share entered at the end of the trading day of February 3, 2022 as part of the fast track for new companies, to the TASE indices: TA-Growth, TA-Tech-Illit, TA-Global Bluetooth, TA-Technology, TA A-Cleantech, and Tel Aviv-Energy Infrastructure.
Yaron Gilboa, CEO of Turbogen said: “I am proud to stand here today and take part in this exciting class. We have come a long way, from a small start-up with a big vision to a public company issued on the stock exchange. Our first IPO with Israeli investors is a very important milestone in our journey. I want to thank the investors for the great trust they have placed in our product and vision. TurboGen is at the forefront of the global revolution and growing trend of self- and local electricity generation, in an age where the problem of generating electricity from renewable energies is growing, and the electricity industries can no longer cope with emerging consumption loads, especially in peak demand for electricity in cities. Electricity, and “peaks” in electricity consumption. The micro-turbine we have developed has a significant consumer promise along with a vision for producing greener and cleaner electricity. “
Lior Navon, Director of Sales and Market Development at the stock exchange, said: “Turbogen joins the Tel Aviv-Cleantech index, which was launched in November 2020, and currently includes 26 shares with a total value of approximately NIS 44 billion. We believe we will see more green companies join To the Tel Aviv Stock Exchange in the future as well. I wish the company great success in developing its activities for the benefit of the company, the investors and for the benefit of a greener and more developed world. “