PETAH TIKVA, Israel, Sept. 16, 2026 (GLOBE NEWSWIRE) -- TurboGen Ltd. (NASDAQ:TRBG) (TASE:TURB) (“TurboGen” or the “Company”), developer of combined heat and power systems based on multifuel microturbines, today announced the signing of a non-binding memorandum of understanding (“MOU”) with a U.S. entity that owns and operates residential care and rehabilitation centers in the United States to purchase approximately 40 units of the Company’s 80Kw combined heat and power (“CHP”) systems to be placed in their facilities, based on the Company's estimate of the energy demand in those facilities. The MOU contemplates an initial purchase of 40 units, subject to entry into a definitive agreement setting forth the terms of the purchase.
“Our microturbine-based CHP systems provide versatile and efficient power and heat, with our 80Kw systems being specifically designed for larger residential and commercial operations,” stated Yaron Gilboa, TurboGen’s Chief Executive Officer. “This MOU represents recognition within a substantial U.S.-based operation for the specific benefits of our technology, and we look forward to continuing the negotiation process and acquiring this customer. We further believe this MOU may lead to several potential contracts that represent both the attraction of our uniquely designed technology, and demonstration of shareholder value even in the early days of our Nasdaq listing.”
The Company anticipates providing further updates related to the MOU as they develop, as well as other ongoing business developments.
About TurboGen
Founded in response to technologically address the threat of climate change and the lack of grid capacity, TurboGen Ltd. (NASDAQ:TRBG) (TASE:TURB) develops combined heat and power systems based on multifuel microturbines. These microturbines are used for local electricity, energy, and heat production. To learn more, please visit: https://turbogenchp.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. For example, TurboGen is using forward looking statement in this press release when it discusses the MOU and entry into a definitive agreement; the potential purchase of approximately 40 units of its CHP systems; the benefits of its technology; and, its future entry into potential contracts. Because such statements deal with future events and are based on TurboGen’s current expectations, they are subject to various risks and uncertainties and actual results, performance or achievements of TurboGen could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company’s Registration Statement on Form F-1 filed with the Securities and Exchange Commission (the “SEC”) on March 12, 2026. Copies are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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