Turbo Energy to Supply Energy Storage for Uber's Electric Vehicles in Spain
Turbo Energy S.A. has announced a flagship agreement to power Uber’s electric vehicle fleet in Spain using its proprietary, AI-optimized SUNBOX Industry system. This partnership is poised to significantly impact both companies and the broader electric vehicle charging infrastructure.
VALENCIA, Spain – Turbo Energy S.A. (NASDAQ: TURB) has formalized an agreement to provide its advanced SUNBOX Industry energy storage solution to power Uber Technologies, Inc.'s (NASDAQ: UBER) electric vehicle (EV) fleet in Spain. The announcement, made on Wednesday, outlines a strategic collaboration that underscores the growing demand for innovative energy management in the expanding EV sector.
The Agreement in Detail
Under the terms of the agreement, Turbo Energy will establish 10 high-capacity charging points for Uber's EV fleet. The core of this deployment is the SUNBOX Industry system, an artificial intelligence-optimized solar energy storage solution. This system is designed to create a 1 MW / 2 MWh smart storage hub. Notably, this technology addresses critical infrastructure challenges by expanding the total available power to 1.6 MW from an initial 600 Kw grid connection, thereby overcoming limitations often encountered in existing electrical grids. The AI control embedded within the system dynamically adjusts charging power based on grid supply and battery status, ensuring consistent and uninterrupted operations even in power-constrained environments. This capability allows for the charging of over 300 vehicles at a single site.
Market Reaction and Company Performance
The announcement has generated a bullish sentiment for Turbo Energy, with its stock (NASDAQ: TURB) recording a surge of over 10% in the past week. The company, which has a market capitalization of $27.78 million, is currently trading above its InvestingPro Fair Value estimate. For Uber, the agreement aligns with its ambitious sustainability objectives, aiming for a fully zero-emission fleet by 2040. This initiative complements Uber's broader financial success, as evidenced by its Q1 2025 results, which saw revenue increase by 13.8% to $11.53 billion and adjusted EBITDA surge by 35% to $1.87 billion, reflecting both business growth and effective cost management. The partnership provides Uber with a scalable solution to electrify its fleet, a key operational challenge in its path to decarbonization.
Broader Context and Implications
This collaboration represents a significant step forward for industrial electric mobility, particularly in regions where grid capacity can impede EV adoption. Turbo Energy's SUNBOX Industry system offers a replicable model for overcoming such infrastructural hurdles, promoting energy autonomy and operational continuity through the integration of renewable generation, advanced storage, and intelligent control. Turbo Energy, founded in 2013 and a subsidiary of Umbrella Global Energy, S.A., operates across Europe, North America, and South America, developing AI-managed solar energy storage technologies. While the company recorded annual revenue of $9.76 million, it faces profitability challenges, as highlighted by financial analyses.
For Uber, this strategic move underscores its commitment to environmental, social, and governance (ESG) initiatives and its ongoing investment in EV adoption, which includes providing incentives for drivers to switch to electric vehicles. The partnership with Turbo Energy exemplifies a practical approach to achieving its zero-emission targets.
Expert Commentary
Mariano Soria, Chief Executive Officer of Turbo Energy, commented on the significance of the project, stating:
> "This project represents a milestone in industrial electric mobility, proving that renewable generation, advanced storage and intelligent control can be combined to ensure energy autonomy and operational continuity. Through this partnership with Uber, we are demonstrating a scalable, replicable model for fleet electrification that can help to accelerate the decarbonization of transportation."
Looking Ahead
The successful deployment of Turbo Energy's solution with Uber in Spain could serve as a vital validation of its technology, potentially attracting further partnerships and boosting its market presence across Europe. For Uber, the agreement offers a pathway to scalable and reliable EV charging infrastructure, which is crucial for accelerating the electrification of its vast fleet globally. The broader implications point towards an increased adoption of advanced energy storage solutions within the EV charging infrastructure market, particularly in urban areas and regions with limited grid capabilities, thereby contributing to the wider decarbonization of transportation. Investors will closely monitor the operational efficiency and scalability of this solution as both companies continue to navigate the evolving landscape of sustainable mobility and energy management.
