TurboGen completes direct listing on NASDAQ under TRBG

TurboGen, an Israeli company building microturbines that generate both electricity and heat, officially began trading on the Nasdaq Capital Market under the ticker TRBG on August 31, 2026. The direct listing marks the company’s leap from the Tel Aviv Stock Exchange to a US exchange, though the move came without any fresh capital flowing into TurboGen’s coffers. Unlike a traditional IPO, a direct listing lets existing shareholders sell their stakes on a new exchange without the company issuing new shares. In TurboGen’s case, 2.07 million existing ordinary shares were made available for resale at roughly $4.42 per share, which could generate around $9.14 million for those selling shareholders. TurboGen itself walks away with a Nasdaq ticker and zero new dollars. A pre-revenue company with a big energy bet TurboGen was founded in 2014 and currently employs 18 people. The company has not generated any revenue. Over the past 12 months, it reported a net loss of approximately $9.23 million. TurboGen’s flagship offering is the TG-40, a multifuel microturbine designed for combined heat and power applications. It produces up to 40 kW of electricity and 60 kW of heat simultaneously, targetin...