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TurboGen Gains Traction in International Energy Market with a Boost from Real Estate Entrepreneur Alex Katz

TurboGen (TASE: TURB) (OTC: TURGF), the innovative Israeli energy technology company, has secured a substantial investment from leading real estate entrepreneur Alex Katz. The funding, a convertible loan amounting to 4 million shekels, reflects Katz’s confidence in TurboGen’s potential, represented by a notable~60% premium on the current share price. According to the company’s filing this week, the loan will convert at a price of 12 NIS per share, compared to current share prices of approximately 7.379 NIS, or alternatively, 10%. interest

TurboGen, known for developing advanced turbines for independent power generation, has received significant validation with this latest investment. Katz’s investment is a testament to TurboGen’s value, indicating a bright future as the company secures patents and prepares for installations in New York. This investment is not Katz’s first show of faith in TurboGen. In 2022, he invested in the company via a convertible loan amounting to 3.5 million shekels.

Katz, a veteran of the American real estate sector with over two decades of experience, is also joining TurboGen as an advisor. His extensive network within the real estate industry and familiarity with energy, emissions, and sustainability issues will likely accelerate TurboGen’s penetration into the American market.

“The innovative technology developed by TurboGen will transform the energy market and provide a solution for the increasing demand for energy in urban areas,” Katz expressed. “The company’s product maturity and the growing demand for energy motivated me to join the company.”

As mentioned, the conversion price associated with Katz’s loan is 12 NIS per share, suggesting Katz’s belief that the company is undervalued or on the cusp of significant achievements. The recent approval of substantial patents and progress towards installations in New York, one of the busiest and most energy-demanding cities globally, may be a tipping point for TurboGen’s future success.

TurboGen’s CEO, Yaron Galboa, welcomed Katz’s involvement, stating: “The addition of Mr. Katz underlines the value and potential he sees in TurboGen. Katz’s familiarity with the real estate field and the close relationships he has developed with leading players in the industry, particularly in the American market, will assist us in accelerating our expansion into international markets, and the US specifically.”

In a world where the electricity industry is wrestling with a myriad of challenges, such as outdated infrastructures and difficulties in the transmission of renewable energy, TurboGen’s cutting-edge cooling system offers significant solutions. TurboGen’s technology empowers microturbines to function at elevated temperatures, thereby boosting power output and operational efficiency. This could provide a crucial answer to the escalating global need for electricity.

Looking at the numbers, the Hydrogen Generation market, where TurboGen plays a pivotal role, is expanding at an impressive rate of 10% annually. As of 2022, it represented a sizeable market, boasting a valuation of roughly $155 billion, with the green hydrogen market continuing to grow aswell. Concurrently, the microgrid market, an area that TurboGen’s offerings cater to, is showing remarkable growth, increasing about 14% per year. It is projected to attain a market value close to $25 billion in the foreseeable future

TurboGen’s market expansion plans underscore its promise to meet the world’s growing energy demand with innovative solutions. With Katz’s financial backing and strategic input, TurboGen is better positioned to make significant strides in the US and international energy markets.

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