Turbo Energy faces Nasdaq delisting warning over equity shortfall
Turbo Energy S.A., a leader in AI-driven solar energy storage, has received a warning from Nasdaq today. The company's stockholders' equity stands at roughly $1.5 million—below the $2.5 million minimum required for continued listing on the Nasdaq composite. The notice from Nasdaq highlights Turbo Energy's failure to meet listing standards. The firm now has 45 days to propose a plan for regaining compliance. If approved, Nasdaq could grant an extension of up to 180 days to resolve the issue. Turbo Energy specialises in smart energy storage solutions for homes, businesses, and industries. Its systems help users cut reliance on traditional power, reduce costs, and improve energy reliability. As a subsidiary of Umbrella Global Energy, S.A., the company may seek financial backing from its parent to meet Nasdaq's equity threshold. The firm has stated its intention to submit a compliance plan within the deadline. However, there is no guarantee that Nasdaq will accept the proposal or that Turbo Energy will regain compliance even with an extension. Turbo Energy remains focused on maintaining its Nasdaq listing and protecting shareholder value. The outcome depends on whether the exchange approves its plan and whether the company can meet the equity requirement within the given timeframe.
