TurboGen Ltd. (NASDAQ: TRBG; TASE: TURB), an Israel-based developer of combined heat and power systems using multifuel microturbines, reported $7.2 million in cash and cash equivalents as of June 30, 2026, up from $3.9 million at the end of 2025.
The company raised gross proceeds of $5 million through a private placement completed in August 2026. Shareholders’ equity turned positive at $1.6 million as of June 30, an improvement of $4.7 million from December 31, 2025. TurboGen attributed the net loss narrowing to a $6.4 million favorable change in warrant fair-value and debt-extinguishment effects, partially offset by rising operating expenses.
For the six months ended June 30, 2026, the company recorded a net loss of $4.2 million, down from $7.6 million in the year-ago period. Revenue was zero, consistent with its development-stage status. Operating loss widened to $5.2 million from $2.3 million, driven by higher general and administrative expenses of $3.1 million, up from $1.4 million, and research and development spending of $1.9 million, up from $0.6 million. Net cash used in operating activities rose to $2.7 million from $1.4 million.
Operationally, TurboGen completed assembly of its first TR8000 model, an 80-kilowatt microturbine system. The company expects first installations of microturbine units ranging from 32kW to 80kW toward the end of 2026. Ordinary shares began trading on the Nasdaq on August 31, 2026.
