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TurboEnergy, S.A. (NASDAQ:TURB) (“TurboEnergy” or the “Company”), a global provider of leading-edge, AI-optimizedsolar energy storage technologies and solutions, today announced that it hasfiled a lawsuit in the Mercantile Court of Madrid in the Kingdom of Spain againstSigenergy International S.L. in an action for the cessation andrectification of illegal advertising relating to its baseless claim that itsproduct marketed as SigenStor is the “world’s first highly integrated5-in-1 energy storage system.”
OnJune 12, 2023, China-based Sigenergy announced that it was “set to astound theworld with its all-scenario energy solution, featuring the world’s first highlyintegrated 5-in-1 energy storage system,” at the EES Europe industry conferencewhich was held in Munich, Germany that same week. Over the next year, Sigenergy followed with theimplementation of a multi-channel promotional campaign, routinely broadcastingits claim to be the “world’s first…” on YouTube, its social media sites, its websiteand website blog and at industry trade show and conferences.
Byway of the lawsuit, Turbo Energy is alleging that Sigenergy’s promotionalstatements were blatantly false and misleading, particularly in light of thefact that Turbo Energy has been marketing its patented SUNBOX EV product,a highly integrated, all-in-one energy storage system, since its announced launchon April 22, 2022 and its official debut at the InterSolar Europe industryevent held in Europe on May 11-13, 2022 – more than one year ahead of theintroduction of SigenStor.
MarianoSoria, Chief Executive Officer of Turbo Energy, stated, “While it is our beliefthat Turbo Energy’s SUNBOX EV may indeed be the world’s first all-in-oneenergy storage innovation, we know for a fact that Sigenergy’s competingproduct, SigenStor, is not. Therefore, we have filed this lawsuit withthe objective of compelling Sigenergy to set the record straight byfirst acknowledging that the promotional statements they have made wereunlawful and misleading, by publishing formal corrections in the press and ontheir website and by agreeing to refrain from continuing its unlawfuladvertising practices in the future.”
Continuing,Soria said, “Turbo Energy is a global company defined, guided and inspired byour pioneering spirit, technological innovation and deeply embedded core values.Further, we recognize that we have chosen to pursue leadership in one of thefastest growing sectors of the sustainable energy industry – solar energystorage solutions -- which has attracted a wide range of competitors to thespace. Turbo Energy actually welcomes competitive pressure, because it servesto challenge us to be that much better and to reach further, faster. What we don’t appreciate – and will not standfor -- are competitors who elect to use deceptive advertising practices tomisinform and mislead the customers we are all out there competing to win.”
At Turbo Energy, S.A.
Dodi Handy, Director ofCommunications
Phone: 407-960-4636
Email: dodihandy@turbo-e.com
