This Energy Company Just Scored A $53 Million Contract And The Stock Is On Fire

Turbo Energy S.A. (NASDAQ:TURB) stock skyrocketed Tuesday after the company announced it won a $53 million contract to deliver energy storage projects in Spain with a total capacity of 366 MWh over the next two years.

The deal involves more than 10 sites operated by a major construction industry client. Turbo Energy will integrate its systems fully and use its AI-based management platform to help the facilities cut power costs, improve efficiency, and expand electrification.

Mariano Soria, CEO of Turbo Energy, said the agreement highlights confidence in the company's storage technology. "By entrusting us with the deployment of our C&I systems across multiple industrial facilities, this project is not only validating our competitively differentiated storage technology but also enabling substantial operational cost savings," he said.

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The initiative will use Turbo Energy's SUNBOX Industry system, launched in 2024. With a range from 30 kW to 2,000 kW and storage capacity of 30 kWh to 4,000 kWh, SUNBOX Industry offers flexibility for industrial users. Its brand-agnostic design allows it to work with legacy infrastructure, easing expansion for customers facing volatile energy markets.

The project advances both customer sustainability goals and Europe's decarbonization push. Turbo Energy said the expansion strengthens its role in large-scale storage and its commitment to cost-efficient clean power.

Turbo Energy also revealed last week that it signed a landmark deal with Uber Technologies (NYSE:UBER) to power the company's EV fleet in Spain. The project uses its SUNBOX Industry system to overcome grid constraints by adding flexible storage capacity, creating a 1 MW / 2 MWh smart hub capable of charging more than 300 vehicles. CEO Mariano Soria said the initiative showcases a scalable model for fleet electrification, underscoring the role of advanced storage in Europe's transportation decarbonization.

ETFs such as the Invesco Solar ETF (NYSE:TAN) and iShares Global Clean Energy ETF (NASDAQ:ICLN) also provide exposure to the renewable energy market.

Price Action: TURB shares were trading higher by 535.19% to $17.15 at last check Tuesday.

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