TurboGen (TG) is a developer of a highly efficient micro gas turbine (mGT) for Combined Cooling, Heat, and Power (CCHP).
The market microturbines seemed flat, a new approach was needed + Funding.
We formulated a new Energy As A Service Business Model in which end users will have the ability to purchase electricity generated by the microturbine at their facility with no upfront capital investment while TG funds and operates the mGT. We received a BIRDF grant to finalize the development and validate the new business model in NYC. An additional grant from the Israeli Innovation Authority was also obtained (totaling $2.5M in grants) . The new funds and the innovative business model created a positive momentum with investors resulting in additional investment and a successful IPO.
$2.5M in funding, Successful IPO.